$1,950,000
$300K PRICE DROP

1135 E 3rd St Long Beach, CA 90802

North Alamitos Beach Neighborhood

Estimated payment $12,580/month

Total Views 7,254
3 Beds
4 Baths
6,715 Sq Ft
$290 Price per Sq Ft

Highlights

  • 0.19 Acre Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

Pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential by updating the units and bringing rents closer to market levels.

Listing Agent

Damien Breaux

Morgan Skenderian Brokerage Email: db@morganskenderian.com License #01460301 Listed on: 10/28/2024

Co-Listing Agent

Rick Applebaum

Morgan Skenderian Brokerage Email: db@morganskenderian.com License #01273871

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $26,280

Year Built

  • Built in 1923

Lot Details

  • 8,459 Sq Ft Lot
  • No Common Walls

Parking

  • 1 Car Garage

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 6,715 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Legal Lot and Block 14 / 138
  • Tax Tract Number 576501
  • Assessor Parcel Number 7275005018
  • $2,017 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 11 Units
  • Downtown Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,556
  • Fuel Expense $2,556
  • Insurance Expense $7,407
  • Maintenance Expense $7,507
  • Other Expense $1,000
  • Pest Control $1,080
  • Trash Expense $2,556
  • Water Sewer Expense $2,556
  • New Taxes Expense $26,280
  • Operating Expense $53,498
  • Gross Income $2,016
  • Net Operating Income $96,634

Property Details

Home Type

Apartment

Est. Annual Taxes

$26,280

Year Built

Built in 1923

Lot Details

0

Parking

1

Listing Details

  • Assessments: Yes
  • CapRate: 5.00
  • Price Per Unit: 177273
  • Property Attached: No
  • Subdivision Name Other: Downtown (DT)
  • Water Sewer Expenses: 2556.00
  • Zoning: LBR3S
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7275005018
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 290.39

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 1.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 1080.00
  • Sewer: Public Sewer
  • Trash Expense: 2556.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 8459.00
  • Lot Size Acres: 0.1942

Multi Family

  • Electric Expense: 2556.00
  • Fuel Expense: 2556.00
  • Gross Income: 2016.00
  • Gross Multiplier: 12.60
  • Gross Operating Income: 150132.00
  • Gross Scheduled Income: 152760.00
  • Insurance Expense: 7407.00
  • Laundry Income: 2016.00
  • Lot Size Area: 8459.0000 Square Feet
  • Maintenance Expense: 7507.00
  • Net Operating Income: 96634.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 53498.00
  • Other Expense: 1000.00
  • Other Expense Description: admin
  • Rent Control: Yes
  • Total Actual Rent: 12730.00
  • Total Expenses: 53498.00
  • Vacancy Allowance: 4643

Tax Info

  • New Taxes Expense: 26280.00
  • Tax Block: 138
  • Tax Census Tract: 5765.01
  • Tax Lot: 14
  • Tax Tract Number: 576501
  • Tax Annual Amount: 26280.00
  • TaxOtherAnnualAssessmentAmount: 2017.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/19/2025 05/19/25 Price Changed $1,950,000 -7.1% $290 / Sq Ft
01/30/2025 01/30/25 Price Changed $2,100,000 -6.7% $313 / Sq Ft
10/28/2024 10/28/24 For Sale $2,250,000 -- $335 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24222836

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 North Alamitos Beach

1135 E 3rd St, Long Beach, CA

This home is located at 1135 E 3rd St, Long Beach, CA 90802 and is currently priced at $1,950,000, approximately $290 per square foot. This property was built in 1923. 1135 E 3rd St is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, Franklin Middle School, and Long Beach Polytechnic High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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. Properties may or may not be listed by the office/agent presenting the information

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Damien Breaux
Listing Agent
Damien Breaux
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Morgan Skenderian
(562) 784-5480