NOT LISTED FOR SALE

1347 E 3rd St Long Beach, CA 90802

North Alamitos Beach Neighborhood
4 Beds
4 Baths
10,042 Sq Ft
0.3 Acres

Last Sold March 25, 2021

Last sale price $3,575,000 $356 Per Sq Ft

117 Days on Market

Highlights

  • 0.3 Acre Lot
  • Laundry Room
  • 5-minute walk to Miracle On Fourth Street Park
  • Long Beach Polytechnic High School Rated A
  • Level Lot

About This Home

As of March 2021

1347 East 3rd Street is an 11-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California. Built in 1949, 1347 East 3rd Street offers 10, spacious 1 bed/1 bath units and 1, 3 bed/2.5 bath townhouse. The well-maintained property has recently been renovated with luxury unit upgrades including modern lighting, hardwood floors, paint, ceiling fans, countertops, cabinets, and appliances. In addition to the upgrades, the property features amenities including garage and uncovered parking, private patios and balconies, and in unit washer and dryer hook-ups.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 09/24/2020

Last Buyer's Agent

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1949

Lot Details

  • 0.3 Acre Lot
  • No Common Walls
  • Level Lot

Parking

  • 3 Open Parking Spaces
  • 6 Car Garage

Interior Spaces

  • 10,042 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Washer and Electric Dryer Hookup

Listing and Financial Details

  • Legal Lot and Block 4 / S
  • Tax Tract Number 576502
  • Assessor Parcel Number 7275009022

Community Details

Overview

  • 11 Units

Building Details

  • 11 Leased Units
  • Rent Control
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,640
  • Fuel Expense $2,640
  • Insurance Expense $4,400
  • Maintenance Expense $6,600
  • Other Expense $6,200
  • Professional Management Expense $11,701
  • Trash Expense $2,640
  • Water Sewer Expense $2,640
  • New Taxes Expense $46,347
  • Operating Expense $85,808
  • Gross Income $241,100
  • Net Operating Income $148,209

Property Details

Home Type

Apartment

Year Built

Built in 1949

Lot Details

0

Parking

6

Listing Details

  • Professional Management Expense: 11701.00
  • Property Attached: No
  • Water Sewer Expenses: 2640.00
  • Zoning: LBR3S
  • Property Type: Residential Income
  • Parcel Number: 7275009022
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 356.00

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 2640.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 13068.00
  • Lot Size Acres: 0.3000

Multi Family

  • Electric Expense: 2640.00
  • Fuel Expense: 2640.00
  • Gross Income: 241100.00
  • Gross Operating Income: 234017.00
  • Gross Scheduled Income: 236100.00
  • Insurance Expense: 4400.00
  • Lot Size Area: 0.3000 Acres
  • Maintenance Expense: 6600.00
  • Net Operating Income: 148209.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 85808.00
  • Other Expense: 6200.00
  • Other Expense Description: Misc
  • Other Income1: 5000.00
  • Other Income Description: Miscellaneous
  • Rent Control: Yes
  • Total Actual Rent: 19675.00
  • Total Expenses: 85808.00

Tax Info

  • New Taxes Expense: 46347.00
  • Tax Block: S
  • Tax Census Tract: 5765.02
  • Tax Lot: 4
  • Tax Tract Number: 576502

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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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 List to Sale Price per Sq Ft Prior Sale
03/25/2021 03/25/21 Sold $3,575,000 -3.0% $356 / Sq Ft
01/19/2021 01/19/21 Pending -- -- --
09/24/2020 09/24/20 For Sale $3,685,000 +14.3% $367 / Sq Ft
06/30/2016 06/30/16 Sold $3,225,000 -6.0% $321 / Sq Ft View Prior Sale
05/23/2016 05/23/16 Pending -- -- --
04/10/2016 04/10/16 For Sale $3,432,000 +56.0% $342 / Sq Ft
12/04/2015 12/04/15 Sold $2,200,000 -4.3% $219 / Sq Ft View Prior Sale
10/26/2015 10/26/15 Pending -- -- --
05/01/2015 05/01/15 For Sale $2,300,000 -- $229 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2021

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    4 in this area

    155 Total Sales

    Tyler Leeson
    Section Image
  • Greg Bassirpou

    Buyer's Agent in 2021

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    2 in this area

    30 Total Sales

    Greg Bassirpou
    Section Image
  • Cameron Jacques

    Seller's Agent in 2016

    Cameron Jacques

    Kinnery's Brokerage House

    (562) 800-0838

    2 in this area

    52 Total Sales

    Cameron Jacques
    Section Image
  • George Bustamante

    Seller Co-Listing Agent in 2016

    George Bustamante

    Coldwell Banker Commercial

    (562) 326-5043

    43 Total Sales

    George Bustamante
    Section Image

  • M

    Buyer's Agent in 2016

    Michael Gelfond

    Bedford Properties

  • Steve Warshauer

    Seller Co-Listing Agent in 2015

    Steve Warshauer

    Coldwell Banker Commercial

    (562) 495-6070

    21 Total Sales

    Steve Warshauer
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20200600

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

1347 E 3rd St, Long Beach, CA

Not Listed for Sale

MultiFamily

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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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