$3,200,000
SOLD NOV 19, 2024

1837 E 3rd St Long Beach, CA 90802

North Alamitos Beach Neighborhood
5 Beds
4 Baths
9,378 Sq Ft
8,549 Sq Ft Lot

Recently Sold

$341 Per Sq Ft

9% Below List Price

60 Days on Market

Highlights

  • 0.2 Acre Lot
  • Laundry Room
  • Bike Trail
  • Long Beach Polytechnic High School Rated A
  • 6 Car Garage

About This Home

As of December 2024

Priced to move...3 blocks from the Beach...6% Actual CAP Rate...25%+ upside! If your client is looking for a "Unicorn" building with a combination of Cash flow, Location, and a Clean property, this is the investment for them. The building includes (10) 1-bedroom units (750+/- sq. ft.), (1) 2-bedroom/1-bath unit, and (1) 2-bedroom/2-bath (owner's unit). Amenities include very large units, upgraded vinyl windows, on-site laundry, six garages (two with driveways), an electric gated entrance, and a 96 walk score! This rare coastal asset is NOT subject to rent control (other than CA) and is being offered for the first time in 26 years.

Last Agent to Sell the Property

Patrick Swanson

Pat Swanson Brokerage Phone: 213-864-2862 License #01382974 Listed on: 08/31/2024

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 8,549 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Parking

  • 6 Car Garage
  • 6 Open Parking Spaces
  • Parking Available
  • Driveway
  • Assigned Parking

Home Design

  • Apartment

Interior Spaces

  • 9,378 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tax Lot 19
  • Assessor Parcel Number 7275018040
  • $2,305 per year additional tax assessments

Community Details

Recreation

  • Bike Trail

Building Details

  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Fuel Expense $1,200
  • Insurance Expense $9,378
  • Trash Expense $1,350
  • Water Sewer Expense $1,700
  • Operating Expense $70,820
  • Gross Income $291,600
  • Net Operating Income $212,032

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Parking

6

Listing Details

  • Price Per Unit: 294583
  • Property Attached: Yes
  • Water Sewer Expenses: 1700.00
  • Zoning: LBR1N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7275018040
  • Year Built: 1958
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Ground
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 341.22

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned, Driveway, Garage
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1350.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 8549.00
  • Lot Size Acres: 0.1963

Multi Family

  • Electric Expense: 600.00
  • Fuel Expense: 1200.00
  • Gross Income: 291600.00
  • Gross Scheduled Income: 291600.00
  • Insurance Expense: 9378.00
  • Lot Size Area: 8549.0000 Square Feet
  • Net Operating Income: 212032.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 70820.00
  • Rent Control: No
  • Total Expenses: 70820.00
  • Vacancy Allowance: 8748

Tax Info

  • Tax Census Tract: 5765.03
  • Tax Lot: 19
  • TaxOtherAnnualAssessmentAmount: 2305.00

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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
12/19/2024 12/19/24 Sold $3,200,000 0.0% $341 / Sq Ft
11/19/2024 11/19/24 Sold $3,200,000 -9.5% $341 / Sq Ft
10/31/2024 10/31/24 Pending -- -- --
08/31/2024 08/31/24 For Sale $3,535,000 +10.5% $377 / Sq Ft
07/08/2024 07/08/24 Off Market $3,200,000 -- --
06/26/2024 06/26/24 For Sale $4,295,000 -- $458 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Patrick Swanson

    Seller's Agent in 2024

    Patrick Swanson

    Pat Swanson

    (213) 864-2862

    4 in this area

    54 Total Sales

    Patrick Swanson
    Section Image
  • Anthony Walker

    Buyer's Agent in 2024

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    7 in this area

    78 Total Sales

    Anthony Walker
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC24179431

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90802 North Alamitos Beach

1837 E 3rd St, Long Beach, CA

This home is located at 1837 E 3rd St, Long Beach, CA 90802 and is currently priced at $3,200,000, approximately $341 per square foot. This property was built in 1958. 1837 E 3rd St is a home located in Los Angeles County with nearby schools including Burbank 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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