NOT LISTED FOR SALE
5 Beds
6 Baths
9,044 Sq Ft
8,276 Sq Ft Lot

Sale Details

Date Sold: April 20, 2020

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

93 Days on Market

Highlights

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

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 in unit

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

8,276 Sq Ft Lot

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
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $41,917 $3,171,568 $765,550 $2,406,018
2024 $40,076 $3,109,382 $750,540 $2,358,842
2023 $39,417 $3,048,415 $735,824 $2,312,591
2022 $36,988 $2,988,644 $721,397 $2,267,247
2021 $36,253 $2,930,044 $707,252 $2,222,792
2020 $11,119 $814,299 $239,015 $575,284
2019 $10,995 $798,333 $234,329 $564,004
2018 $10,601 $782,681 $229,735 $552,946
2016 $9,697 $752,290 $220,815 $531,475
2015 $9,325 $740,991 $217,499 $523,492
2014 $9,315 $726,477 $213,239 $513,238
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC19252700

California Regional Multiple Listing Service (CRMLS)
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