Long Beach, CA 90802 · APN 7281-002-024
UNITS
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BUILDING SF
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SF / UNIT
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YEAR BUILT
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BEDROOMS
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BATHROOMS
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USE · CODE 050V
LAND
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Rent-control rules apply to occupied residential units, not raw land. What matters here is zoning, density programs like TOC and ED1, and what the dirt can carry.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
The last recorded transfer was March 2024, at an estimated $2,100,000. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $2,142,000 ($1,428,000 land, $714,000 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Own this building?
FREE, CONFIDENTIAL VALUATION FROM CLOSED COMPS — 48H TURNAROUND.
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