Sold for $1,300,000

Listed by: Pabst, Kinney & Associates • Mark Kachigan • Contact: 562-987-3244

Bought with: Fiv Realty Co

Tax assessed value

$1,300,000

387 Freeman Ave, Long Beach, CA 90814

6beds

6baths

4,066sqft

Multi Family

Built in 1923

-- sqft lot

$-- Zestimate^®

$320/sqft

$1,768 Estimated rent

Home value

Not available

Estimated sales range

Not available

$1,768/mo

Zestimate^® history

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$8,245/mo

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What's special

***Priced Reduced*** Prime Bluff Heights location. First time for sale in 30+ years! Front Craftsman duplex plus 4 units in rear of lot. Excellent low-vacancy rental area! Unit mix: 6-(1 Br's), 4-(Parking). The low rents make this an excellent $ opportunity to create add-on value! Tenants all pay their own gas and electric. There is a laundry room in the front house shared with the whole property. The front house is a duplex with a small one bedroom in front. It has new vinyl floors but is otherwise dated. The other unit back/front is a gorgeously renovated one bedroom with new kitchen , floors , vinyl windows , dishwasher and gets great light. Pictures of this unit included. Units are appx. 600 SF each. The back four units are large one bedrooms. They have nice sized living rooms and the kitchens are connected to small dining area. Units are appx. 720 SF each. There is a large basement (access from back) but it's unused. Owner may carry 1st TD with 50% down at 5.5% for 5 years.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 6

Cooling

None

Appliances

Laundry: Common Area

Features

Common walls with other units/homes: 2+ Common Walls

Interior area

Total structure area: 4,066
Total interior livable area: 4,066 sqft

Property

Parking

Total spaces: 4
Parking features: Driveway
Uncovered spaces: 4

Features

Levels: Two
Stories: 2
Entry location: front
Pool features: None
Spa features: None
Has view: Yes
View description: None

Lot

Size: 6,502 Square Feet
Dimensions: 50 x 130
Features: Near Public Transit, Street Level, Walkstreet

Details

Parcel number: 7257011016
Zoning: LBR2A
Special conditions: Trust

Construction

Type & style

Home type: MultiFamily
Architectural style: Bungalow,Spanish
Property subtype: Multi Family
Attached to another structure: Yes

Materials

Stucco, Wood Siding
Foundation: Raised
Roof: Composition

Condition

New construction: No
Year built: 1923

Utilities & green energy

Electric: Electricity - On Property
Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Community & HOA

Community

Features: Sidewalks
Security: Carbon Monoxide Detector(s), Smoke Detector(s)
Subdivision: Belmont Heights (Bh)

Location

Region: Long Beach

Financial & listing details

Price per square foot: $320/sqft
Tax assessed value: $1,300,000
Annual tax amount: $17,764
Date on market: 5/29/2024
Cumulative days on market: 167 days
Listing terms: Cash,Cash to New Loan
Total actual rent: 8900
Tenant pays: Electricity, Gas
Road surface type: Paved

Price history

Date	Event	Price
11/22/2024	Sold	$1,300,000-6.8%$320/sqft
Source: CRMLS #PW24106426 Report a problem
11/13/2024	Contingent	$1,395,000$343/sqft
Source: CRMLS #PW24106426 Report a problem
10/24/2024	Price change	$1,395,000-5.4%$343/sqft
Source: CRMLS #PW24106426 Report a problem
9/11/2024	Price change	$1,475,000-3.3%$363/sqft
Source: CRMLS #PW24106426 Report a problem
7/31/2024	Price change	$1,525,000-4.7%$375/sqft
Source: CRMLS #PW24106426 Report a problem
5/29/2024	Listed for sale	$1,600,000$394/sqft
Source: CRMLS #PW24106426 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$17,764 +185.5%	$1,300,000 +220%
2024	$6,222 +1.9%	$406,215 +2%
2023	$6,107 +6.1%	$398,251 +2%
2022	$5,758 +2.6%	$390,443 +2%
2021	$5,611 +0.3%	$382,788 +1%
2020	$5,596	$378,864 +2%
2019	$5,596 +4.9%	$371,436 +2%
2018	$5,332	$364,154 +2%
2017	$5,332 +1.1%	$357,015 +2%
2016	$5,275 +7.6%	$350,015 +1.5%
2015	$4,901 +3.8%	$344,758 +2%
2014	$4,721	$338,005 +4.5%
2011	--	$323,415 +0.8%
2010	--	$320,999 +3.8%
2007	--	$309,270 +2%
2006	--	$303,207
2005	--	$303,207 +6%
2003	--	$286,093 +2%
2002	--	$280,485