$4,600,000 527 E 3rd Street Long Beach, CA

MLS: RS18037225   Type: Income   County: Los Angeles   City: Long Beach   Area: Downtown Area - Alamitos Beach   Neighborhood: Downtown   Zip: 90802     Stories: 2

Mortgage $21,596 /mo



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Two-story 21 unit apartment complex located in the heart of Downtown Long Beach. Unit mix comprised of (9) 2 Bed / 1 Bath, (11) 1 Bed / 1 Bath and (1) Studio units (buyer to verify). Long term ownership with rents roughly 37% below market. The property has (3) on-site parking spaces and leased on-site laundry. Per seller, electrical upgraded with new breakers & wiring roughly 20 years ago. All market rent assumptions based on verifiable bedroom/bathroom count from county records. Long Beach is NOT subject to rent control. *Part of 6 Building, 58 Unit Portfolio*

Elementary School

Middle School

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Price History

2/16/2018 Listed $4,725,000
3/13/2018 2% - $4,650,000
3/26/2018 2% - $4,600,000

Attached Structure Detached
Community Features Curbs, Sidewalks, Storm Drains, Street Lighting, Urban
Levels Two
Listagentstatelicense 01946829
Listing Agent Andrew McAllister - BRE#01946829
MLS Area 4 - Downtown Area, Alamitos Beach
Number of Units Leased 21
Price Per Square Foot 381.68
Property Attached Y/N 0
Senior Community Y/N 0
Special Listing Conditions Standard
Subdivision Downtown (DT)
Subdivisionnameother Downtown (DT)
Total Units 21
Zoning LBPD30

Interior Features

Average1bedareaunits Square Feet
Average2bedareaunits Square Feet
Average3bedareaunits Square Feet
Averagestudioareaunits Square Feet
Common Walls No Common Walls
Laundry Features Community, On Upper Level
Laundry Y/N 1
Total Stories 2

Exterior Features

Building Area Total 12052.00
Garage Spaces 0.00
Land Lease Y/N 0
Lot Features Level with Street, Lot 6500-9999, Near Public Transit
Lot Size Source Assessor
Lot Size Square Feet 7501.00
Lotsizeunits Square Feet
Number of Buildings 1
Number of Separate Electric Meters 22
Number of Separate Gas Meters 22
Number of Separate Water Meters 1
Parking Features Assigned
Parking Y/N 1
Pool Features None
Private Pool Y/N 0
Total Parking 3.00
Uncoveredspaces 3.00
Water Source Public

Property Schools

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Gallery (3 photos)

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Property vs Zip Code Avg (90802)

Price 4.60M Avg 2.22M

Sqr Feet 12,052 Avg 5,116

Cost / Sqr Ft $382 Avg $435

Acres 0.17 Avg 0.14

Visits 83 Avg 43

Days on Site 66 Avg 73

Walkscore® 98 Avg 87

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Listing Provided Courtesy Of: Andrew McAllister with Nationwide Real Estate Execs.

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Location & Address

eXp Realty California
2603 Camino Ramon Suite 200
San Ramon, CA