NOT LISTED FOR SALE

1524 E 3rd St Long Beach, CA 90802

North Alamitos Beach Neighborhood
5 Beds
6 Baths
9,044 Sq Ft
8,276 Sq Ft Lot

Last Sold April 20, 2020

Last sale price $2,900,000 $321 Per Sq Ft

93 Days on Market

Highlights

  • 0.19 Acre Lot
  • Laundry Room
  • 3-minute walk to Miracle On Fourth Street Park
  • Long Beach Polytechnic High School Rated A
  • Landscaped

About This Home

As of April 2020

1524 East 3rd Street is an 11-unit multifamily investment property in Long Beach, one of the premier housing markets in Southern California. Specifically, 1524 East 3rd Street is located in the Alamitos Beach neighborhood, just a few blocks from the ocean, one mile to Downtown, and minutes to Belmont Shores. The 9,044 square foot property consists of studio, one-bedroom and two-bedroom floor plans. Originally a 4-unit building, built in 1926, with an additional 7 units added in 1984, 1524 East 3rd Street offers amenities including gated ground-level parking, garage parking, private balconies, and an on-site laundry facility.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 10/28/2019

Last Buyer's Agent

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 10/28/2019

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1926

Lot Details

  • 8,276 Sq Ft Lot
  • No Common Walls
  • Landscaped

Parking

  • 2 Open Parking Spaces
  • 10 Car Garage

Interior Spaces

  • 9,044 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Legal Lot and Block 4 / 130
  • Tax Tract Number 576502
  • Assessor Parcel Number 7275012017

Community Details

Overview

  • 2 Buildings
  • 11 Units

Amenities

  • Laundry Facilities

Building Details

  • 11 Leased Units
  • 1 Separate Water Meter
  • Electric Expense $1,800
  • Fuel Expense $1,800
  • Insurance Expense $3,468
  • Maintenance Expense $5,775
  • Other Expense $4,400
  • Professional Management Expense $9,071
  • Trash Expense $1,800
  • Water Sewer Expense $1,800
  • New Taxes Expense $42,289
  • Operating Expense $74,003
  • Gross Income $186,780
  • Net Operating Income $107,411

Property Details

Home Type

Apartment

Year Built

Built in 1926

Lot Details

0

Parking

10

Listing Details

  • Professional Management Expense: 9071.00
  • Property Attached: No
  • Water Sewer Expenses: 1800.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7275012017
  • Year Built: 1926
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: One, Two
  • Price Per Square Foot: 320.65

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 10.00
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1800.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 8276.40
  • Lot Size Acres: 0.1900

Multi Family

  • Electric Expense: 1800.00
  • Fuel Expense: 1800.00
  • Gross Income: 186780.00
  • Gross Operating Income: 181414.00
  • Gross Scheduled Income: 186780.00
  • Insurance Expense: 3468.00
  • Lot Size Area: 0.1900 Acres
  • Maintenance Expense: 5775.00
  • Net Operating Income: 107411.00
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 74003.00
  • Other Expense: 4400.00
  • Rent Control: No
  • Total Actual Rent: 13911.00
  • Total Expenses: 74003.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 42289.00
  • Tax Block: 130
  • 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
04/20/2020 04/20/20 Sold $2,900,000 -14.7% $321 / Sq Ft
01/29/2020 01/29/20 Pending -- -- --
10/28/2019 10/28/19 For Sale $3,400,000 -- $376 / 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 2020

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    4 in this area

    155 Total Sales

    Tyler Leeson
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC19252700

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

1524 E 3rd St, Long Beach, CA

Not Listed for Sale

MultiFamily

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