Seller's Agent in 2023
Kevin King
Marcus & Millichap
(562) 257-1245
3 in this area
39 Total Sales
3032 E 3rd St Long Beach, CA 90814
Bluff Heights Neighborhood
1
Bed
2
Baths
4,842
Sq Ft
7,501
Sq Ft Lot
About This Home
As of February 2023We are pleased to present a 6-unit multifamily property. Built in 1919, the subject property consists of 4,842 rentable square feet spread throughout a 7,501 square foot lot. The building consists of two Studio units and four 1-Bedroom / 1-Bathroom units It contains five garages and six surface spots providing ample on-site parking.
The subject property has gone through an extensive renovation of three out of six units and upgraded exterior finishes and landscaping. The three units that have received extensive renovations include new: kitchens, baths, and flooring throughout. Also, the two downstairs one-bedroom units have beautiful wood French doors that open to front private patios for synergized outdoor space.
Tenants enjoy living in the Bluff Heights Neighborhood East of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 01/09/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1919
Lot Details
- 7,501 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 6 Open Parking Spaces
- 5 Car Garage
Home Design
- Apartment
Interior Spaces
- 4,842 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 10 / U
- Tax Tract Number 576700
- Assessor Parcel Number 7257028005
- $37,438 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 6 Units
- Bluff Park Subdivision
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $894
- Fuel Expense $893
- Insurance Expense $3,795
- Maintenance Expense $1,400
- Professional Management Expense $8,081
- Trash Expense $893
- Water Sewer Expense $894
- New Taxes Expense $37,438
- Operating Expense $60,389
- Gross Income $163,091
- Net Operating Income $102,702
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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 | Prior Sale |
|---|---|---|---|---|---|
| 02/21/2023 02/21/23 | Sold | $2,775,000 | -7.3% | $573 / Sq Ft | |
| 02/15/2023 02/15/23 | Pending | -- | -- | -- | |
| 01/09/2023 01/09/23 | For Sale | $2,995,000 | +61.9% | $619 / Sq Ft | |
| 07/21/2021 07/21/21 | Sold | $1,850,000 | 0.0% | $382 / Sq Ft | View Prior Sale |
| 05/13/2021 05/13/21 | For Sale | $1,850,000 | -- | $382 / 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 | $35,845 | $2,830,500 | $1,810,500 | $1,020,000 |
| 2024 | $35,845 | $2,775,000 | $1,775,000 | $1,000,000 |
| 2023 | $24,871 | $1,887,000 | $1,173,000 | $714,000 |
| 2022 | $23,347 | $1,850,000 | $1,150,000 | $700,000 |
| 2021 | $11,391 | $849,479 | $397,000 | $452,479 |
| 2020 | $11,361 | $840,770 | $392,930 | $447,840 |
| 2019 | $11,229 | $824,285 | $385,226 | $439,059 |
| 2018 | $10,851 | $808,123 | $377,673 | $430,450 |
| 2016 | $9,978 | $776,744 | $363,008 | $413,736 |
| 2015 | $9,592 | $765,078 | $357,556 | $407,522 |
| 2014 | $9,554 | $750,092 | $350,552 | $399,540 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
Leonel Ceballos
Buyer's Agent in 2023
Leonel Ceballos
eXp Realty
(714) 269-7752
1 in this area
14 Total Sales
-
Mark Kachigan
Seller's Agent in 2021
Mark Kachigan
Pabst, Kinney & Associates
(562) 225-4848
5 in this area
35 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23004292
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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