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SOLD 9/16/2022

851 Gladys Avenue, Long Beach, CA 90804$2,500,000

17
beds
10
baths
6858
ft2
· 6489
ft2 lot
$368 / ft2

Listing provided courtesy of Listing Broker: W. Kurt Wood, Belmont Brokerage & Mgmt. INC.
Source CRMLS;
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Well kept 9 unit apartment built in 1963 in great Eastside area. Two 1bdr/1bath, six 2bdrm/1 bath, and one 3bdrm/2 bath units. Six garages. Many long term tenants with lower than market rents. Current monthly rents total $12,967 including $300 for garages and $69 for laundry (current rents are based on scheduled rent increases between 7/1/22 through 9/1/22). RentOmeter indicates market rents should total $20,855 per month ($1,663 for 1 bdrms, $2,335 for 2 bedrms, and $3,150 for 3 bdrms) that's a 10.0 GRM. Operating Expenses are estimated. Call Listing Agent for actual operating statements.

HOA

$0/month

On market

6 days

Year built

1963

Property type

Multi-Family

Parking

6

MLS

PW22148511

Price / Sq.Ft.

$368 / ft2

Status

Closed

Buyer’s Brokerage Commission

2.5%

Home details for 851 Gladys Avenue

Interior Features & Layout
Appliances
•   
Laundry Details: Common Area
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Interior Size
•   
Building Area Total: 6858.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Garage Faces Front, Garage Faces Rear
•   
Garage Spaces: 6.00
•   
Carport Spaces: 0.00
Community Info
•   
Road Frontage Type: City Street
•   
Number Of Buildings: 1
•   
Total Units: 9
Building Info
•   
Building Area Units: Square Feet
•   
Zoning: LBR2N
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
•   
Construction Materials: Stucco
Lot Info
•   
Lot Features: Level
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.1490
•   
Lot Size Area: 6489.0000
•   
Lot Size Units: Square Feet
Property Features
•   
Common Walls: No Common Walls
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 10
•   
Number Of Separate Gas Meters: 10
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Operating Expense Percent: 40.00
•   
Gross Operating Income: 150936.00
•   
Water Sewer Expense: 0.00
•   
Vacancy Allowance Rate: 3.00
•   
Total Actual Rent: 12598.00
•   
Fuel Expense: 0.00
•   
Trash Expense: 0.00
•   
Insurance Expense: 0.00
•   
Vacancy Allowance: 4668
•   
Professional Management Expense: 0.00
•   
Total Expenses: 0.00
•   
Gross Scheduled Income: 155604.00
•   
Operating Expense: 62241.00
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 4800.00
Lease Info
•   
Net Operating Income: 88695.00
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 0.00
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 2
•   
Unit 3 Actual Rent: 1685.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 0.00
•   
Unit 3 Bathrooms: 1
•   
Unit 3 Total Rent: 1685.00
Unit 7 Information
•   
Unit 7 Garage Spaces: 0.00
•   
Unit 7 Bathrooms: 1
•   
Unit 7 Actual Rent: 1367.00
•   
Unit 7 Total Units: 1
•   
Unit 7 Total Rent: 1367.00
•   
Unit 7 Bedrooms: 2
•   
Unit 7 Furnished Units: Unfurnished
Unit 2 Information
•   
Unit 2 Actual Rent: 1300.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 1
•   
Unit 2 Garage Spaces: 0.00
•   
Unit 2 Total Rent: 1300.00
Unit 8 Information
•   
Unit 8 Bathrooms: 1
•   
Unit 8 Garage Spaces: 0.00
•   
Unit 8 Actual Rent: 1335.00
•   
Unit 8 Total Units: 1
•   
Unit 8 Total Rent: 1335.00
•   
Unit 8 Bedrooms: 2
•   
Unit 8 Furnished Units: Unfurnished
Unit 9 Information
•   
Unit 9 Bathrooms: 2
•   
Unit 9 Garage Spaces: 0.00
•   
Unit 9 Actual Rent: 1633.00
•   
Unit 9 Total Units: 1
•   
Unit 9 Total Rent: 1633.00
•   
Unit 9 Bedrooms: 3
•   
Unit 9 Furnished Units: Unfurnished
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1273.00
•   
Unit 1 Total Rent: 1273.00
Unit 4 Information
•   
Unit 4 Actual Rent: 1335.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 1335.00
•   
Unit 4 Bathrooms: 1
•   
Unit 4 Garage Spaces: 0.00
•   
Unit 4 Bedrooms: 2
Unit 5 Information
•   
Unit 5 Actual Rent: 1335.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 1335.00
•   
Unit 5 Garage Spaces: 0.00
•   
Unit 5 Bathrooms: 1
•   
Unit 5 Bedrooms: 2
Multi Unit Information
•   
# Of Units: 9
•   
Price Per Unit: 280556
Unit 6 Information
•   
Unit 6 Actual Rent: 1335.00
•   
Unit 6 Total Units: 1
•   
Unit 6 Total Rent: 1335.00
•   
Unit 6 Furnished Units: Unfurnished
•   
Unit 6 Bedrooms: 2
•   
Unit 6 Garage Spaces: 0.00
•   
Unit 6 Bathrooms: 1
School Neighborhood & Directions
Location
•   
Other Subdivision Name: Eastside (ES)
•   
Subdivision: Eastside (ES)
•   
Community Features: Urban
School Info
•   
Directions: South of E. 10th St, east of Temple
Other
Calculation
•   
Dom: 7
•   
Cdom: 7

Property History for 851 Gladys Avenue

09/16/2022
09/16/2022
CRMLS #PW22148511
sold
CRMLS #PW22148511
$2,500,000
--0.99%
07/15/2022
07/15/2022
CRMLS #PW22148511
pending
CRMLS #PW22148511
$2,525,000
07/08/2022
07/08/2022
CRMLS #PW22148511
active
CRMLS #PW22148511
$2,525,000

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