2325 North Earl Avenue

Long Beach, CA 90806

$1,385,000
Last Sold Price
2
Beds
5
Baths
4,666 Sq. Ft.
$297 / Sq. Ft.
4,666
Sq. Ft.
$297
per Sq. Ft.

Description

We are proud to offer a 5-unit apartment building in the Wrigley Area of Long Beach California. The subject property is located at 2325 Earl Avenue, just two blocks East of Pacific Avenue. and three blocks South of Willow Avenue. Located within close proximity to numerous forms of public transportation, a strong Walk Score of 86 indicating most errands can be accomplished by foot. This unit mix consists all two bedrooms/ one-bathroom units that offer a range of floor plans and square footages. Built...We are proud to offer a 5-unit apartment building in the Wrigley Area of Long Beach California. The subject property is located at 2325 Earl Avenue, just two blocks East of Pacific Avenue. and three blocks South of Willow Avenue. Located within close proximity to numerous forms of public transportation, a strong Walk Score of 86 indicating most errands can be accomplished by foot. This unit mix consists all two bedrooms/ one-bathroom units that offer a range of floor plans and square footages. Built in 1964, this property is a two-story garden style building with four enclosed garages in the rear. With approximately 4,666 rentable square feet, and a lot size of 5,325 sq. ft. the property is individually metered for gas and electricity. The income on the property has been very consistent with a sub 3% vacancy rate and very little to no turnover over the past 24 months. Rents have been averaging $1.84 sq.ft. over the past year, but with some interior improvements, and an upcoming vacancy, the rents can be over elevated to over $2 sq.ft. in today’s rental market. With rents 15% below market, an investor looking to “add value” could dramatically improve their cash flow by upgrading the units, bumping rents up to market rate, activating the garages for additional income and thus making this acquisition a valuable addition to any investor’s portfolio.
  1. Listed by Justin White • DRE #01267826 • Brokerage DRE #01267826 • Justin White

Property Details for 2325 North Earl Avenue

Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4666
Assessor Parcel Number
7205-018-022

Location

Listing Courtesy of Justin White, Justin White, DRE #01267826

Sold By Keller Williams Studio City, Michael Pesci, DRE #01274379

Add your commute
LISTING UPDATED: 10/08/2021 07:26 AM

Property Details for 2325 North Earl Avenue

StatusClosed
MLS #PW21037559
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
CountyLos Angeles County

Location

Listing Courtesy of Justin White, Justin White, DRE #01267826

Sold By Keller Williams Studio City, Michael Pesci, DRE #01274379

Add your commute

Building Information for 2325 North Earl Avenue

Building/Complex2325 N Earl AveFloor-Stories2Residences-Pet Policy-Year Built1964Building Size-

Payment Calculator

$7,559 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,559

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2325 North Earl Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities, Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $103,908
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $100,791
  • Net Operating Income: $68,577
  • Number Of Rented Garages: 0
  • Garage Income: $0
  • Other Income Description: 4 Garages Not Earning Money
  • Gross Multiplier: 14.2
  • Cap Rate: 4.65
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $32,214
  • New Taxes Expense: $16,594
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $2,100
  • Maintenance Expense: $3,250
  • Professional Management Expense: $5,195
  • Other Expense Description: 1075
  • Trash Expense: $0
  • Water Sewer Expense: $4,000
  • Total Expenses: $32,214
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 3572
  • Tax Census Tract: 5731.00
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Biking, Curbs, Dog Park, Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Disposal, Gas Oven, Gas Range, Refrigerator
  • Equipment: Refrigerator
  • Interior Features: Balcony
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: Electric, Gas
  • Fireplace Rooms: Electric, Gas
  • Cooling: None
  • Heating: Wall Furnace
  • Flooring: Carpet
Exterior Features
  • Door Features: Sliding Doors
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Exterior: Stucco
  • Roof: Shingle
  • Fence: Yes
  • Fencing: Good Condition
  • Foundation Details: Concrete Perimeter, Raised
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 2-5 Units/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Levels: Two
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned
Property / Structure Info
  • Builders Tract Name: Wrigley Area
  • Builders Tract Code: Wrigley Area (WR)
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $8,659
  • Unit Type Total Rent: $8,659
  • Unit Type Pro Forma: 10100
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1

Property History for 2325 North Earl Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2325 North Earl Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Robinson Academy
PublicK to 8

Polytechnic High School
Public9 to 12

Educational Partnership High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Justin White, Justin White, DRE #01267826

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.