Seller's Agent in 2020
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
16 in this area
74 Total Sales
1518 E 3rd St Long Beach, CA 90802
North Alamitos Beach Neighborhood
3
Beds
2
Baths
16,428
Sq Ft
8,269
Sq Ft Lot
Highlights
- 0.19 Acre Lot
- Subterranean Parking
- 2 Car Garage
- Long Beach Polytechnic High School Rated A
- Laundry Room
- 5-minute walk to Miracle On Fourth Street Park
About This Home
As of December 20201518 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.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 09/27/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 8,269 Sq Ft Lot
- Two or More Common Walls
- Density is 21-25 Units/Acre
Parking
- 2 Car Garage
- Subterranean Parking
- Parking Available
Home Design
- Apartment
Interior Spaces
- 16,428 Sq Ft Home
- 3-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Urban Location
- Radiant Heating System
Listing and Financial Details
- Legal Lot and Block 3 / 130
- Tax Tract Number 5765
- Assessor Parcel Number 7275012016
Community Details
Overview
- 22 Units
Building Details
- Rent Control
- 23 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $3,850
- Fuel Expense $3,850
- Gardener Expense $1,200
- Insurance Expense $4,543
- Maintenance Expense $8,250
- Other Expense $7,937
- Pest Control $840
- Professional Management Expense $25,659
- Trash Expense $3,850
- Water Sewer Expense $3,850
- New Taxes Expense $86,093
- Operating Expense $151,196
- Gross Income $476,476
- Net Operating Income $325,281
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/08/2020 12/08/20 | Sold | $6,600,000 | -3.6% | $402 / Sq Ft |
| 10/13/2020 10/13/20 | Pending | -- | -- | -- |
| 07/30/2020 07/30/20 | Price Changed | $6,850,000 | -4.2% | $417 / Sq Ft |
| 02/13/2020 02/13/20 | Price Changed | $7,150,000 | -4.6% | $435 / Sq Ft |
| 09/27/2019 09/27/19 | For Sale | $7,495,000 | -- | $456 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $90,993 | $7,144,050 | $3,247,296 | $3,896,754 |
| 2024 | $90,993 | $7,003,972 | $3,183,624 | $3,820,348 |
| 2023 | $89,450 | $6,866,640 | $3,121,200 | $3,745,440 |
| 2022 | $83,922 | $6,732,000 | $3,060,000 | $3,672,000 |
| 2021 | $82,239 | $6,600,000 | $3,000,000 | $3,600,000 |
| 2020 | $74,486 | $5,908,630 | $4,161,600 | $1,747,030 |
| 2019 | $73,609 | $5,792,860 | $4,080,000 | $1,712,860 |
| 2018 | $37,555 | $2,833,789 | $1,131,770 | $1,702,019 |
| 2016 | $34,515 | $2,719,561 | $1,087,823 | $1,631,738 |
| 2015 | $33,164 | $2,678,711 | $1,071,483 | $1,607,228 |
| 2014 | $33,011 | $2,626,240 | $1,050,495 | $1,575,745 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
Todd Hawke
Seller Co-Listing Agent in 2020
Todd Hawke
Keller Williams Realty Downey
(310) 774-3746
2 in this area
10 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19229471
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.
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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