NOT LISTED FOR SALE
13 Beds
2 Baths
14,193 Sq Ft
7,476 Sq Ft Lot

Last Sold February 16, 2024

Last sale price $4,715,000 $332 Per Sq Ft

272 Days on Market

Highlights

  • Golf Course Community
  • Fishing
  • Dual Staircase
  • Fremont Elementary School Rated A
  • Ocean Side of Highway 1
  • No HOA

About This Home

As of February 2024

For sale, for the first time since originally built in 1969, La Orleans, located at 3819 E. 2nd St. This 4-story multi family property in Long Beach, features 12 extremely large apartments, with a healthy unit mix of one, two, and three bedroom units. This turnkey property boasts a prime location within the well sought after neighborhood of Belmont Heights, walking distance to the beach and all of the boutiques, restaurants and amenities of 2nd St. The building recently underwent major renovations to the exterior of the property and to each of the twelve units, which are all now updated. The property’s oversized units lend themselves well to a potential condo conversion as well. It is elevators served with two stairwells and features covered parking for each of the units. The property owner can also collect extra income from the on-site laundry facility on the ground floor.
The spacious floor plans offer ample living space, while the stylish finishes and ocean and mountain views create an atmosphere of luxury and comfort. Residents will appreciate the remodeled units, private balconies, new flooring, and well-appointed bathrooms, all of which contribute to the overall aesthetic and livability of the property.
Overall, 3819 E. 2nd St. represents an excellent opportunity for investors who want to acquire a well-maintained, updated multifamily property in one of Long Beach’s most desirable neighborhoods. With its prime location, modern upgrades, and excellent rental history, the property is sure to attract high-quality tenants and generate strong returns for years to come. Do not miss out on this rare opportunity to own a piece of Long Beach real estate that truly has it all.

Last Agent to Sell the Property

Willliam Hugron

Ashwill Associates License #00803524 Listed on: 05/16/2023

Co-Listed By

Justin Hugron CCIM

Ashwill Associates License #02069980

Last Buyer's Agent

Alex Nelson

1st Point Lending Inc. License #01176105

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 7,476 Sq Ft Lot
  • Two or More Common Walls
  • Chain Link Fence
  • Density is 11-15 Units/Acre

Parking

  • 2 Car Garage
  • 12 Attached Carport Spaces
  • Parking Available
  • Single Garage Door

Home Design

  • Apartment
  • Entry on the 1st floor
  • Flat Roof Shape

Interior Spaces

  • 13 Bedrooms
  • 14,193 Sq Ft Home
  • 4-Story Property
  • Dual Staircase

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Home Security

  • Home Security System
  • Security Lights
  • Fire and Smoke Detector

Outdoor Features

  • Ocean Side of Highway 1
  • Exterior Lighting
  • Rain Gutters

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 7256
  • Assessor Parcel Number 7256008023

Community Details

Overview

  • No Home Owners Association
  • 12 Units
  • Belmont Heights Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Golf Course Community
  • Fishing
  • Dog Park
  • Water Sports
  • Bike Trail

Building Details

  • 13 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $8,400
  • Gardener Expense $1,200
  • Insurance Expense $18,000
  • Maintenance Expense $341
  • Trash Expense $4,800
  • Water Sewer Expense $7,200
  • New Taxes Expense $60,000
  • Operating Expense $94,590
  • Gross Income $449,040
  • Net Operating Income $311,243

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Parking

2

Listing Details

  • Other Phone Description: 7146427690
  • Price Per Unit: 541667
  • Property Attached: Yes
  • Security: Closed Circuit Camera(s), Security Lights, Security System, Smoke Detector(s)
  • Subdivision Name Other: Belmont Heights (BH)
  • Water Sewer Expenses: 7200.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7256008023
  • Year Built: 1969
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: 2 Staircases
  • Stories: 4
  • Entry Location: 2nd St.
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 332.21

Exterior Features

  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Flat

Garage/Parking

  • Carport Spaces: 12.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Carport, Attached Carport, Garage - Single Door
  • Total Parking Spaces: 14.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room, Stackable
  • Sewer: Public Sewer
  • Trash Expense: 4800.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Dog Park, Fishing, Golf, Gutters, Watersports, Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 7476.00
  • Lot Size Acres: 0.1716

Multi Family

  • Electric Expense: 8400.00
  • Gross Income: 449040.00
  • Gross Scheduled Income: 449040.00
  • Insurance Expense: 18000.00
  • Lot Size Area: 7476.0000 Square Feet
  • Maintenance Expense: 341.00
  • Net Operating Income: 311243.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 137796.00
  • Rent Control: No
  • Total Expenses: 94590.00
  • Waterfront Features: Ocean Side Of Highway 1

Tax Info

  • New Taxes Expense: 60000.00
  • Tax Lot: 7256

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
02/16/2024 02/16/24 Sold $4,715,000 -27.5% $332 / Sq Ft
02/12/2024 02/12/24 Pending -- -- --
11/02/2023 11/02/23 Price Changed $6,500,000 +8.4% $458 / Sq Ft
10/30/2023 10/30/23 Price Changed $5,999,000 0.0% $423 / Sq Ft
10/30/2023 10/30/23 For Sale $5,999,000 +27.2% $423 / Sq Ft
10/16/2023 10/16/23 Off Market $4,715,000 -- --
10/05/2023 10/05/23 For Sale $6,500,000 +37.9% $458 / Sq Ft
09/30/2023 09/30/23 Off Market $4,715,000 -- --
08/23/2023 08/23/23 Price Changed $6,500,000 -7.1% $458 / Sq Ft
06/06/2023 06/06/23 Price Changed $7,000,000 -6.7% $493 / Sq Ft
05/16/2023 05/16/23 For Sale $7,500,000 -- $528 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23084453

California Regional Multiple Listing Service (CRMLS)