901 Walnut Avenue

Long Beach, CA 90813

$895,000
Last Sold Price
4
Beds
3
Baths
2,302 Sq. Ft.
$389 / Sq. Ft.
2,302
Sq. Ft.
$389
per Sq. Ft.

Description

Rare Investment opportunity located in Historic Craftsman Village! Fantastic corner lot location consisting of a traditional Craftsman home with beautiful architectural lines & a gracious front porch on Walnut Ave., along with a recently remodeled Duplex consisting of 2 (1x1) Units plus a separate studio located on the 9th st side of the lot. So many possibilities, along with a huge upside potential on the rents! All of these have long term tenants of 3 plus years or more. This could go as an owner...Rare Investment opportunity located in Historic Craftsman Village! Fantastic corner lot location consisting of a traditional Craftsman home with beautiful architectural lines & a gracious front porch on Walnut Ave., along with a recently remodeled Duplex consisting of 2 (1x1) Units plus a separate studio located on the 9th st side of the lot. So many possibilities, along with a huge upside potential on the rents! All of these have long term tenants of 3 plus years or more. This could go as an owner user who would want to remodel the House and live in it, or for the investor looking for a nice addition to their portfolio, or for the investor who would want to remodel the front house as well as the studio for resale. Multi unit remodels in the area are going up right now due to the lack of inventory. This really is a must see as these do not hit the market very often. The Duplex was fully remodeled in 2015 with permits. Please note that interior photos are of the duplex upon its remodel prior to being occupied. There is also a fully transferable Oil & Gas lease that will provide approx $2000 annually of passive income. Showings will be conducted on weekends only, so call listing agent to schedule your showing today.
  1. Listed by Scott Niles • DRE #01923986 • Brokerage DRE #01524211 • Elements Real Estate

Property Details for 901 Walnut Avenue

Architectural Style
Craftsman
View
None
Parking Spaces Total
2
Private Pool
No
Cooling Type
Wall/Window
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of Elements Real Estate, Scott Niles, DRE #01923986

Sold By Elements Real Estate, Scott Niles, DRE #01923986

Add your commute
LISTING UPDATED: 04/01/2021 12:12 PM

Property Details for 901 Walnut Avenue

StatusClosed
MLS #SB21038087
Days on Market6
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
CountyLos Angeles County

Location

Listing Courtesy of Elements Real Estate, Scott Niles, DRE #01923986

Sold By Elements Real Estate, Scott Niles, DRE #01923986

Add your commute

Building Information for 901 Walnut Avenue

Building/Complex901 Walnut AveFloor-Stories2Residences-Pet Policy-Year Built1922Building Size-

Payment Calculator

$5,915 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,884

Property Taxes

$1,031

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 901 Walnut Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $53,220
  • Gross Scheduled Income: $53,220
  • Net Operating Income: $51,020
  • Financing: Conventional
Expense Details
  • Operating Expense: $2,200
  • New Taxes Expense: $10,980
  • Electric Expense: $25
  • Insurance Expense: $150
  • Trash Expense: $200
  • Water Sewer Expense: $400
  • Total Expenses: $11,755
Tax / Assessment Info
  • Tax Tract Number: 5764
  • Tax Census Tract: 5764.02
  • Tax Lot: 6
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Park, Sidewalks, Storm Drains
Property / Structure Info
Interior Features
  • Appliances: Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Water Heater
  • Equipment: Dryer, Microwave, Refrigerator, Washer, Gas Oven, Gas Range
  • Interior Features: Coffered Ceiling(s), Copper Plumbing Partial, Granite Counters, Laminate Counters
  • Room Type: All Bedrooms Down
  • Main Level Bathrooms: 1
  • Main Level Bedrooms: 2
  • Bedroom Features: All Bedrooms Down
  • Water Heater Features: Gas
  • Water Heater Type: Gas
  • Laundry: Yes
  • Laundry Features: Dryer Included, In Kitchen, Washer Included
  • Laundry Location: Kitchen
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Fireplace: N/K
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
  • Heat Equipment: Wall/Gravity
  • Floor Coverings: Tile, Wood
  • Flooring: Tile, Wood
Exterior Features
  • Roof: Composition, Flat, Shingle
  • Fence: Yes
  • Fence: Chain Link
  • Fencing: Chain Link
  • Structure Type: Quadruplex
  • Property Condition: Building Permit, Updated/Remodeled
  • Miscellaneous: Storm Drains
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Sign on Property: No
  • Lot Features: Corner Lot, Front Yard, Level with Street, Near Public Transit
  • Lease Considered: No
  • Number Of Units: 4
  • Available For Lease: No
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Maintained, Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Sewer/Septic: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Unassigned
  • Parking Non-Garage: Unassigned
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Attached Garage: No
  • Parking Features: Unassigned
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
  • Architectural Style: Craftsman, Craftsman/Bungalow
  • Residential Styles: All Other Attached
  • Residential Unit Location: 1 common wall
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: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,365
  • Unit Type Total Rent: $1,365
  • Unit Type Pro Forma: 2495
  • Unit Type Type: 1
Unit 2
  • 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: No
  • Unit Type Actual Rent: $1,065
  • Unit Type Total Rent: $1,065
  • Unit Type Pro Forma: 1450
  • Unit Type Type: 2
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: No
  • Unit Type Actual Rent: $1,150
  • Unit Type Total Rent: $1,150
  • Unit Type Pro Forma: 1450
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $855
  • Unit Type Total Rent: $855
  • Unit Type Pro Forma: 1000
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 0
  • Number With Range: 4
  • Number With Refrigerator: 2
  • Number With Disposal: 0
  • Number Wall AC: 0

Property History for 901 Walnut Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 901 Walnut Avenue

Taxable ValueLand$603,432Additions$327,726Total$931,158
Tax Record2023$12,375 ($1,031 / month)
Home Facts
Total Finished SqFt2,302 SqFtAbove Grade Finished SqFt2,302 SqFtLot Size5,715 SqFtStyleQuadraplexYear Built1922ZoningLBR2NCountyLOS ANGELESAPN7267-019-007

Schools near 901 Walnut Avenue

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 - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic 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.

Similar Homes

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Similar Sold Homes

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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 Elements Real Estate, Scott Niles, DRE #01923986

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.