362 East Louise Street
362 East Louise Street
Long Beach, CA 90805
$3,275,000
Last Sold Price
20
Beds
12
Baths
9,648 Sq. Ft.
$339 / Sq. Ft.
9,648
Sq. Ft.
$339
per Sq. Ft.
Closed 10/5/22
Closed 10/5/22
Description
Easy to own asset that is a great addition to any portfolio! This clean and well-maintained 12-unit property consists of eight 2bed/1bath units and four 1bed/1bath units with eight garages and private laundry/ storage rooms. The entire property is secured with coded entry and a brand new camera system. Plus, two of the units were recently refurbished and the entire roof is brand new. Each unit is in good condition, offers a functional layout, and provides plenty of space for the tenants to enjoy....Easy to own asset that is a great addition to any portfolio! This clean and well-maintained 12-unit property consists of eight 2bed/1bath units and four 1bed/1bath units with eight garages and private laundry/ storage rooms. The entire property is secured with coded entry and a brand new camera system. Plus, two of the units were recently refurbished and the entire roof is brand new. Each unit is in good condition, offers a functional layout, and provides plenty of space for the tenants to enjoy. Located in the path of progress - this dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Bixby Knolls and all the new large scale redevelopment projects (The Beat, The Uptown, Uptown Commons, etc.) by nationally acclaimed developers coming online along the Atlantic corridor brings a ton of long-term value to the local market. Downtown Long Beach, the beach, parks, public transportation, easy freeway access, and other community amenities/ attractions are close by for all to enjoy. Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community.
- Listed by Matthew Mahowald • DRE #02001732 • Brokerage DRE #01914434 • Buckingham Investments, Inc
Property Details for 362 East Louise Street
View
None
Parking Spaces Total8
Private PoolNo
Cooling TypeN/K
Total Units12.0
Building TypeAttached
Lot Size SourceAssessor
Living Area9648
Location
Listing Courtesy of Buckingham Investments, Inc, Matthew Mahowald, DRE #02001732
Sold By Buckingham Investments, Inc, Anthony Walker, DRE #01908153
Add your commute
LISTING UPDATED: 10/05/2022 11:48 PM
Property Details for 362 East Louise Street
| Status | Closed |
|---|---|
| MLS # | SB22131119 |
| Days on Market | 38 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1964 |
| Lot Size | 0.28 AC / 12,000 SF |
| County | Los Angeles County |
Location
Listing Courtesy of Buckingham Investments, Inc, Matthew Mahowald, DRE #02001732
Sold By Buckingham Investments, Inc, Anthony Walker, DRE #01908153
Add your commute
Building Information for 362 East Louise Street
Stories2Residences-Year Built1964Building Size-Lot Size0.28 AC / 12,000 SF
Payment Calculator
$21,473 per month
30 year fixed, 7.25% Interest
Principal and Interest
$17,873
Property Taxes
$3,600
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 362 East Louise Street
Rental Info
Rental Info
- Tenant Pays: Cable TV, Electricity, Gas, Telephone
Income / Expense / Tax Details
Income Details
- Gross Income: $0
- Gross Scheduled Income: $237,756
- Vacancy Allowance: 7133
- Vacancy Allowance Rate: 3
- Gross Operating Income: $230,623
- Net Operating Income: $147,671
- Number Of Rented Garages: 8
- Gross Multiplier: 14.7
- Cap Rate: 4.2
- Current Financing: Conventional
- Financing: Conventional
Expense Details
- Operating Expense: $82,952
- Operating Expense Percent: 36.00%
- Insurance Expense: $4,800
- Professional Management Expense: $0
- Trash Expense: $3,000
- Water Sewer Expense: $5,400
- Total Expenses: $13,200
Tax / Assessment Info
- Tax Tract Number: 5134
- Tax Census Tract: 5703.04
- CFD/Mello-Roos Fee: $0
- Tax Lot: 1154
Community / Development
Community / Development
- Accessibility Features: 2+ Access Exits, Parking
- Disability Access: 2+ Access Exits, Other Main Level Modifications
- Assessments YN: Yes
- Assessments: Buyer to Verify, Unknown
- Community Features: Curbs, Park, Sidewalks
Property / Structure Info
Interior Features
- Appliances: Free-Standing Range, Gas Oven, Gas Range, Gas Cooktop, Refrigerator
- Equipment: Community, Laundry Area, Refrigerator, Room
- Interior Features: 2 Staircases
- Room Type: Family Room, Kitchen, Laundry, Living Room, Master Bathroom, Utility Room
- Laundry: Yes
- Laundry Features: Common Area, Community, Individual Room
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: None
- Heating Type: Wall
- Heating: Wall Furnace
- Flooring: Carpet, Laminate, Vinyl
Exterior Features
- Security Features: Carbon Monoxide Detector(s), Card/Code Access, Closed Circuit Camera(s), Gated Community, Security System, Smoke Detector(s)
- Security: Gated Community
- Roof: Composition, Shingle
- Fence: Yes
- Fence: Privacy, Wrought Iron
- Fencing: Privacy, Security, Wrought Iron
- Foundation Details: Slab
- Property Condition: Repairs Cosmetic, Turnkey, Updated/Remodeled
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
Land/Lot Info
- Lot Features: Front Yard, Landscaped, Lot 10000-19999 Sqft, Near Public Transit, Park Nearby
- Number Of Units: 12
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Paved
- Road Frontage Type: City Street
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Electric: Standard
- Water Source: Public
Parking Info
- Garage Spaces: 8
- Parking Garage Spaces: 8
- Carport Spaces: 0
Property / Structure Info
- Builders Tract Name: North Long Beach
- Builders Tract Code: North Long Beach (NLB)
Unit Information
Unit 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,662
- Unit Type Total Rent: $1,662
- Unit Type Pro Forma: 2000
- Unit Type Type: 1
Unit 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,448
- Unit Type Total Rent: $1,448
- Unit Type Pro Forma: 2000
- Unit Type Type: 10
Unit 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,550
- Unit Type Total Rent: $1,550
- Unit Type Pro Forma: 1600
- Unit Type Type: 11
Unit 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,625
- Unit Type Total Rent: $1,625
- Unit Type Pro Forma: 1625
- Unit Type Type: 12
Unit 5
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,532
- Unit Type Total Rent: $1,532
- Unit Type Pro Forma: 2000
- Unit Type Type: 2
Unit 6
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,895
- Unit Type Total Rent: $1,895
- Unit Type Pro Forma: 2000
- Unit Type Type: 3
Unit 7
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,833
- Unit Type Total Rent: $1,833
- Unit Type Pro Forma: 2000
- Unit Type Type: 4
Unit 8
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,449
- Unit Type Total Rent: $1,449
- Unit Type Pro Forma: 1600
- Unit Type Type: 5
Unit 9
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,462
- Unit Type Total Rent: $1,462
- Unit Type Pro Forma: 1600
- Unit Type Type: 6
Unit 10
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,900
- Unit Type Total Rent: $1,900
- Unit Type Pro Forma: 2000
- Unit Type Type: 7
Unit 11
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,662
- Unit Type Total Rent: $1,662
- Unit Type Pro Forma: 2000
- Unit Type Type: 8
Unit 12
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,795
- Unit Type Total Rent: $1,795
- Unit Type Pro Forma: 2000
- Unit Type Type: 9
Unit Information
- Number Of Units Leased: 12
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 12
- Number Of Separate Gas Meters: 12
- Number Of Separate Water Meters: 1
Property History for 362 East Louise Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 362 East Louise Street
Taxable ValueLand$675,000Additions$2,600,000Total$3,275,000
Tax Record2023$43,201 ($3,600 / month)
Home Facts
Total Finished SqFt9,648 SqFtAbove Grade Finished SqFt9,648 SqFtLot Size12,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLBR1NCountyLOS ANGELESAPN7126-033-023
Schools near 362 East Louise Street
This home is within Long Beach Unified School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Addams Elementary School PublicK to 5 | ||
Lindsey Academy Public6 to 8 | ||
Jordan High School Public9 to 12 | ||
IVA - Intellectual Virtues Academy Middle School Charter6 to 8 |
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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Listing Courtesy of Buckingham Investments, Inc, Matthew Mahowald, DRE #02001732
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.