3 months on rocket

1141 E 16th St, Long Beach, CA, 90813

$2,400,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo
Schools Nearby

Location

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1141 E 16th St, Long Beach$2,400,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingAssigned, Concrete, Direct Access, Door-Single, Driveway, Garage Faces Front, Garage, Public, Garage Faces Rear, One Space
Garage6 spaces
Year Built1963
HeatingForced Air
CoolingNone
FireplaceNone
ViewNone
MLS #DW24022648
Lot Size0.15 Acres
StatusActive

About 1141 E 16th St

Beautifully restored 9 unit building in the Poly High neighborhood of Long Beach- Central Long Beach. Pride of ownership property, same owner over 40 years. The property was just painted less than a year ago. Sandblasted, new stucco, paint, wood trim. Great mix of 17 bedrooms and 10 baths. The Landlord currently uses the front (one bedroom) unit as his office, where he spent approx $15,000 in capital expenditures- gutting the unit and placing new floors, cabinets, counters, bathroom fixtures, shower stall, plumbing. It will be available at close (or prior if needed) and can easily be rented for $1800-$2000. A few other units have had nice capital expenditures as well in last 24 months. You have a total of 6 newer garage doors, plus 6 parking spaces. Perfect for long term investor looking for a property that cashflows nicely. Current gross market rent is apprx. $220,800. Rent increases have been issued, and rent on March 15, 2024, increases by max 8.8% (California Rent Control), to $238,000, plus small laundry income. 7.8% Cap Rate based on PRESENT rent. Property sold AS-IS. Please send Proof of Down Payment, Letter of Interest (if applicable) from commercial bank, with offers.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1963
  • Stories: 2

Listing Office:

  • Office Name: Southern Cal Realty
  • Office Phone: (714) 984-3426
  • Listing Agent: Robert Castro

Interior Features

Interior Information:

  • Appliances: Electric Range, Gas Range
  • Flooring Type: Laminate, Tile
  • Interior: Ceiling Fan(s), Granite Counters
  • Fireplace: None

Exterior Features

Exterior Information:

  • Private Pool: No
  • View: None
  • Exterior: Rain Gutters

Parking Information:

  • Garage Space: 6 spaces
  • Parking: Assigned, Concrete, Direct Access, Door-Single, Driveway, Garage Faces Front, Garage, Public, Garage Faces Rear, One Space

Lot Features

Lot Information:

  • Lot: Front Yard, Garden, Landscaped, Rectangular Lot
  • Lot Size: 0.15 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: None

Other

Directions Information:

  • Directions: South of PCH, West of Alamitos. On 16th Street between MLK Ave and Alamitos

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,400,000

Tax Information:

  • Annual Amount: $5,843
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Long Beach, CA.

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Long Beach, CA

City

Med. Sold Price

$790.3K

Med. Price/SqFt

$616

Avg. Days On Market

27

# of Sold Homes

179

1141 E 16th St vs Long Beach

95 DAYS ON ROCKET

+68 Days

$2,400,000

+$1.6M More

KEY TAKEAWAY

This property is $1.6M more than the Median Sold Price in Long Beach, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #DW24022648

Listing Office:

  • Office Name: Southern Cal Realty
  • Office Phone: (714) 984-3426
  • Listing Agent: Robert Castro

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/5/2024, 6:20:45 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$5,843$358,174
2020$5,758$353,879
2019$5,524$346,941
2018$5,465$340,140
2017$5,465$333,472

History based on county public records data.

Payment Calculator

$12K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,262

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-6627134
2
/10

  • Whittier Elementary School

  • 1761 Walnut Ave

  • 0.30 miles

  • Public District Grades KG-5

school-card-donut-6627135
6
/10

  • Lincoln Elementary School

  • 1175 E 11th St

  • 0.45 miles

  • Public District Grades KG-5

school-card-donut-6627136
5
/10

  • Roosevelt Elementary School

  • 1400 E 20th St

  • 0.47 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $31,579. The most common annual income of people living in Long Beach, CA is less than $35k. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1141 E 16th St

What is the listing price of this property?

The listing price of 1141 E 16th St property is $2,400,000.

What type of property is this?

The property 1141 E 16th St is a condo located in Long Beach, California, 90813.

Is this property for sale now?

Active Listing: 1141 E 16th St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $5,843 (source: MLS/based on county public records data).

Which year was this property built?

The year of construction for 1141 E 16th St is 1963.

Rocket Homes›California›Los Angeles County›Long Beach›90813›1141 E 16th St

This home is located at 1141 E 16th St in Long Beach, CA and zip code 90813 in the The Harbor neighborhood. This home, which was built in 1963, sits on a 0.15 acre lot. It has been listed on Rocket Homes since January 31, 2024 and is currently priced at $2,400,000.

Over 96 listings were sold over their listed price in April 2024 in Long Beach, CA. In the same period over 47 listings were sold below the listed price and 36 listings were sold for the listed price. In April 2024 in Long Beach, CA there were 8% more homes for sale than in March 2024. In April 2024 median list price was $790,334 and the average listing age was 27 days.

From Rocket Homes Real Estate and based on county public records data.

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