NOT LISTED FOR SALE

535 W 3rd St Long Beach, CA 90802

West Village Neighborhood
3 Beds
3 Baths
12,506 Sq Ft
7,458 Sq Ft Lot

Last Sold April 16, 2024

Last sale price $4,300,000 $344 Per Sq Ft

107 Days on Market

Highlights

  • 0.17 Acre Lot
  • Rectangular Lot
  • 5-minute walk to Cesar E Chavez Park
  • Laundry Room

About This Home

As of April 2024

535 West 3rd Street is a 16-unit apartment building in Long Beach, California. This property is located right in the hustle and bustle of flourishing Downtown Long Beach across from the Governor George Deukmejian Courthouse and conveniently near dining, retail, and entertainment (WalkScore: 91). The building is a 1964 construction with a desirable mix of 13 two-bed/two-bath units and three one-bed/one-bath units, garage and tandem driveway parking, balconies, and on-site laundry.

Excitingly, four ADU’s are approved and RTI. Meanwhile, existing rents offer a new investor 15 percent rental upside. Assumable financing is available at 3.2% fixed rate with five years remaining, one of which is interest-only; the remaining loan balance is approximately $2.5 Million.

This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. Properties available separately or together.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker Brokerage Email: steve.bogoyevac@marcusmillichap.com License #01332755 Listed on: 12/11/2023

Last Buyer's Agent

Steve Bogoyevac

Steven M. Bogoyevac, Broker Brokerage Email: steve.bogoyevac@marcusmillichap.com License #01332755 Listed on: 12/11/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,458 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot

Parking

  • 8 Car Garage

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 12,506 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 22 / 138
  • Assessor Parcel Number 7278022038
  • $4,072 per year additional tax assessments

Community Details

Overview

  • 16 Units
  • Downtown Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • Operating Expense $138,104
  • Gross Income $363,882
  • Net Operating Income $218,695

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

8

Listing Details

  • Price Per Unit: 268750
  • Property Attached: No
  • Subdivision Name Other: Downtown (DT)
  • Zoning: LBPD30
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 7278022038
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 3
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 343.83

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 7458.00
  • Lot Size Acres: 0.1712

Multi Family

  • Gross Income: 363882.00
  • Gross Scheduled Income: 363882.00
  • Lot Size Area: 7458.0000 Square Feet
  • Net Operating Income: 218695.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Units Total: 16
  • Operating Expense: 138104.00
  • Rent Control: Yes
  • Total Expenses: 138104.00

Tax Info

  • Tax Block: 138
  • Tax Census Tract: 5759.01
  • Tax Lot: 22
  • TaxOtherAnnualAssessmentAmount: 4072.00

Range of Values:

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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 Change Sq Ft Price
04/16/2024 04/16/24 Sold $4,300,000 0.0% $344 / Sq Ft
03/27/2024 03/27/24 Pending -- -- --
01/31/2024 01/31/24 Price Changed $4,300,000 -4.4% $344 / Sq Ft
12/11/2023 12/11/23 For Sale $4,500,000 -- $360 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2024

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1200

    1 in this area

    92 Total Sales

    Steve Bogoyevac
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23224434

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 West Village

535 W 3rd St, Long Beach, CA

This home is located at 535 W 3rd St, Long Beach, CA 90802 since 11 December 2023. This property was built in 1964. 535 W 3rd St is a home located in Los Angeles County with nearby schools including Cesar Chavez Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo 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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