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1518 E 3rd St, Long Beach, CA 90802
0 Beds
0 Baths
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1518 E. 3rd Street is a 22-unit apartment complex located in prime Alamitos Beach, just three blocks to the ocean and bike path. The property offers a desirable mix of (19) one-bedroom and (3) two-bedroom units. Seventeen of the 22 units are fully renovated, including new flooring, modern kitchens and baths and upgraded fixtures throughout. A majority of remodeled apartments have in-unit washer/dryers and on-site laundry is available for the remaining units. The property is in close proximity to the hip boutiques, restaurants and bars along Fourth Street/Retro Row and along the Broadway Corridor. The neighborhood is also adjacent to East Village Arts District, Downtown Long Beach and a myriad of employment opportunities. According to Niche website, Alamitos Beach ranks as the number three of 47 Best Neighborhoods for Young Professionals. Rents in this submarket are 19% higher than other Long Beach submarkets, on average. 1518 E. 3rd Street is an attractive investment asset with rental upside potential in an outstanding Alamitos Beach location with historically low vacancy rates.
  • Price:
  • $7,150,000
  • Acreage:
  • 0.19
  • Year Built:
  • 1964
  • Listing ID #:
  • PW19229471
  • Street Address:
  • 1518 E 3rd St
  • City:
  • Long Beach
  • State:
  • California
  • Postal Code:
  • 90802
  • County:
  • Los Angeles
  • Community:
  • Downtown Area/ Alamitos Beach
  • Subdivision:
  • Alamitos Beach (ab)
  • Listing Status:
  • Active
  • Number Of Floors In Unit:
  • Three Or More
  • Number Of Units:
  • 22
  • Stories:
  • 3
  • Total # Of Buildings:
  • 1
  • Year Built:
  • 1964
  • Year Built Source:
  • Assessor
  • Annual Electric Expenses:
  • 3850.00
  • Annual Insurance Expenses:
  • 4543.00
  • Annual Maintenance Expenses:
  • 8250.00
  • Annual Trash Expenses:
  • 3850.00
  • Annual Water/Sewer Expenses:
  • 3850.00
  • Expenses:
  • 154980.00
  • Gross Income:
  • 480550.00
  • Net Operating Income:
  • 325570.00
  • Operating Expense:
  • 154980.00
  • Approximate Lot Size Range Source:
  • Assessor
  • Conforms To Zoning:
  • Lbr2n
  • Lot Features:
  • 21-25 Units/Acre
  • Lot Square Footage:
  • 8269.00
  • Community Features:
  • Sidewalks, Urban
  • Days On Market:
  • 193
  • Previous Listing Price:
  • 7495000.00
  • Price Per Square Foot:
  • 435.23
  • Laundry:
  • 1
  • Laundry Description:
  • Individual Room
  • Garage Parking Spaces:
  • 2.00
  • Parking Description:
  • Garage, Subterranean
  • Parking Spaces:
  • 16.00
  • Existing Water:
  • Public
  • Heating:
  • Radiant
  • Sewage Type:
  • Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By Robert Stepp of Keller Williams Pacific Estate
  • CRMLS

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