S
Seller's Agent in 2024
Steve Bogoyevac
Steven M. Bogoyevac, Broker
(562) 257-1231
1 in this area
86 Total Sales
535 W 3rd St Long Beach, CA 90802
West Village Neighborhood
3
Beds
3
Baths
12,506
Sq Ft
7,458
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Rectangular Lot
- 5-minute walk to Cesar E Chavez Park
- Laundry Room
About This Home
As of April 2024535 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
Steven M. Bogoyevac, Broker Brokerage Email: steve.bogoyevac@marcusmillichap.com License #01332755 Listed on: 12/11/2023
Last Buyer's Agent
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
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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 |
|---|---|---|---|---|
| 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
| 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 | $29,924 | $4,182,000 | $2,958,000 | $1,224,000 |
| 2024 | $29,924 | $2,019,532 | $1,416,136 | $603,396 |
| 2023 | $28,885 | $1,979,934 | $1,388,369 | $591,565 |
| 2022 | $27,176 | $1,941,113 | $1,361,147 | $579,966 |
| 2021 | $26,337 | $1,903,053 | $1,334,458 | $568,595 |
| 2020 | $26,240 | $1,885,440 | $1,320,775 | $564,665 |
| 2019 | $25,917 | $1,848,509 | $1,294,878 | $553,631 |
| 2018 | $25,235 | $1,812,302 | $1,269,489 | $542,813 |
| 2016 | $23,197 | $1,740,104 | $1,220,195 | $519,909 |
| 2015 | $22,306 | $1,713,967 | $1,201,867 | $512,100 |
| 2014 | $22,196 | $1,680,394 | $1,178,325 | $502,069 |
Source: Public Records
Agents Affiliated with this Home
-
Steve Bogoyevac
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23224434
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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