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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
17
beds 10
baths 6858
ft2 · 6489
ft2 lotListing provided courtesy of Listing Broker: W. Kurt Wood, Belmont Brokerage & Mgmt. INC.
Source CRMLS;
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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1 Homes are subject to our approval and must be listed within an MLS in the areas that Flyhomes operates. Homes are subject to inspections and other limitations.
Flyhomes is registered trademark of Flyhomes, Inc.
NMLS Consumer Access
Affiliated Business Arrangement Disclosure