702 E 3rd St Long Beach, CA 90802
East Village NeighborhoodEstimated Value: $1,220,000 - $1,451,000
5
Beds
2
Baths
3,264
Sq Ft
$406/Sq Ft
Est. Value
Highlights
- 0.06 Acre Lot
- Laundry Room
- Level Lot
- Long Beach Polytechnic High School Rated A
About This Home
As of June 2023702 East 3rd Street is a 4-unit multifamily investment property located in the East Village Arts District of Long Beach, CA. 702 East 3rd Street offers an attractive mix of 2, two-bedroom units and 2, three-bedroom units with significant rental upside. The property has received significant capital investment towards modernizing the units with three of four units featuring upgraded countertops, flooring, paint, and appliances. Tenants pay for their own electric and gas. The property is positioned near the intersection of the East Village and Alamitos Beach neighborhoods, offering residents easy access to all that Long Beach has to offer. The property is situated in the East Village Arts District, providing tenants convenient access to the plethora of retail, dining, and entertainment options located in Downtown Long Beach and the Shoreline Village. 702 East 3rd Street is within 1 mile of the 4th Street Corridor, more commonly known as “Retro Row”, a stretch of 4th Street with numerous specialty shops and cafes. Additionally, the property benefits from its location near the junction of East Ocean Boulevard and Alamitos Avenue, two major thoroughfares that connect residents to arterial freeways.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 03/23/2023
Last Buyer's Agent
Sam Alherech
Buckingham Investments, Inc License #02148135
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $19,177
Year Built
- Built in 1919
Lot Details
- 2,614 Sq Ft Lot
- No Common Walls
- Level Lot
Interior Spaces
- 3,264 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Washer and Electric Dryer Hookup
Listing and Financial Details
- Legal Lot and Block 4 / 95
- Tax Tract Number 576
- Assessor Parcel Number 7281013001
- $2,519 per year additional tax assessments
Community Details
Building Details
- 4 Leased Units
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- Electric Expense $618
- Fuel Expense $618
- Insurance Expense $3,000
- Maintenance Expense $2,800
- Other Expense $4,239
- Trash Expense $618
- Water Sewer Expense $619
- New Taxes Expense $15,756
- Operating Expense $28,268
- Gross Income $84,840
- Net Operating Income $54,027
Additional Features
- 4 Units
- Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 23, 2023
Closed on
Jun 27, 2023
Sold by
Niazi Fatima
Bought by
Niazi Faizan
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Sam Alherech
Buckingham Investments, Inc
List Price
$1,325,000
Sold Price
$1,300,000
Premium/Discount to List
-$25,000
-1.89%
Total Days on Market
39
Views
141
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$26,648
Avg. Annual Appreciation
1.04%
Original Mortgage
$975,000
Outstanding Balance
$955,705
Interest Rate
6.57%
Mortgage Type
New Conventional
Estimated Equity
$370,943
Purchase Details
Listed on
Mar 23, 2023
Closed on
May 15, 2023
Sold by
Chieng Family Trust
Bought by
Niazi Faizan and Raja Payeman
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Sam Alherech
Buckingham Investments, Inc
List Price
$1,325,000
Sold Price
$1,300,000
Premium/Discount to List
-$25,000
-1.89%
Views
141
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$975,000
Outstanding Balance
$955,705
Interest Rate
6.57%
Mortgage Type
New Conventional
Estimated Equity
$370,943
Purchase Details
Listed on
Feb 1, 2016
Closed on
Mar 22, 2016
Sold by
Chieng Chieh N
Bought by
Chieng Family Trust
Seller's Agent
Nancy Deprez
Vista Sotheby's Int'l Realty
Buyer's Agent
Fred Macias
Realty One Group West
List Price
$849,000
Sold Price
$799,000
Premium/Discount to List
-$50,000
-5.89%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.91%
Original Mortgage
$599,000
Interest Rate
3.72%
Mortgage Type
New Conventional
Purchase Details
Listed on
Feb 1, 2016
Closed on
Feb 3, 2016
Sold by
Well Run Properties Llc
Bought by
Chieng Chieh N and Leung Alvina Y
Seller's Agent
Nancy Deprez
Vista Sotheby's Int'l Realty
Buyer's Agent
Fred Macias
Realty One Group West
List Price
$849,000
Sold Price
$799,000
Premium/Discount to List
-$50,000
-5.89%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$599,000
Interest Rate
3.72%
Mortgage Type
New Conventional
Purchase Details
Listed on
Nov 16, 2012
Closed on
Apr 1, 2013
Sold by
Rupley Katherine
Bought by
Well Run Properties Llc
Seller's Agent
Carl Mitrak
WINDERMERE DESERT PROPERTIES
Buyer's Agent
Nancy Deprez
Vista Sotheby's Int'l Realty
List Price
$639,000
Sold Price
$635,000
Premium/Discount to List
-$4,000
-0.63%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.69%
Purchase Details
Listed on
Nov 16, 2012
Closed on
Jan 23, 2013
Sold by
Deprez Nancy S
Bought by
Deprez Johan
Seller's Agent
Carl Mitrak
WINDERMERE DESERT PROPERTIES
Buyer's Agent
Nancy Deprez
Vista Sotheby's Int'l Realty
List Price
$639,000
Sold Price
$635,000
Premium/Discount to List
-$4,000
-0.63%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$476,250
Interest Rate
3.29%
Mortgage Type
New Conventional
Purchase Details
Listed on
Nov 16, 2012
Closed on
Jan 14, 2013
Sold by
Feldman Bradley E
Bought by
Rupley Katherine and Shea Colleen
Seller's Agent
Carl Mitrak
WINDERMERE DESERT PROPERTIES
Buyer's Agent
Nancy Deprez
Vista Sotheby's Int'l Realty
List Price
$639,000
Sold Price
$635,000
Premium/Discount to List
-$4,000
-0.63%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$476,250
Interest Rate
3.29%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 19, 2010
Sold by
The Bank Of New York Mellon
Bought by
Feldman Bradley E and Feldman Gloria J
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$345,500
Interest Rate
4%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 14, 2009
Sold by
Powell Tim Roger
Bought by
The Bank Of New York Mellon and The Bank Of New York
Purchase Details
Closed on
Aug 1, 2005
Sold by
Madsen Phillip A
Bought by
Powell Tim Roger
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$137,500
Interest Rate
5.61%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Jun 30, 2003
Sold by
Cutrell Inc
Bought by
Madsen Phillip A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$479,200
Interest Rate
5.22%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jun 19, 2003
Sold by
Madsen Annette M
Bought by
Madsen Phillip A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$479,200
Interest Rate
5.22%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 23, 2002
Sold by
Ross Jamaica
Bought by
Cutrell Adam K and Cutrell Annmarie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$295,200
Interest Rate
7.8%
Purchase Details
Closed on
May 8, 2002
Sold by
Hud
Bought by
Ross Jamaica
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$216,000
Interest Rate
6.86%
Purchase Details
Closed on
Feb 12, 2002
Sold by
Homeside Lending Inc
Bought by
Hud
Purchase Details
Closed on
Oct 31, 2001
Sold by
Figuerola Humberto
Bought by
Homeside Lending Inc
Purchase Details
Closed on
Jul 14, 1999
Sold by
Pacificor Properties Inc
Bought by
Rodriguez Pedro
Purchase Details
Closed on
Apr 1, 1999
Sold by
Rodriguez Pedro
Bought by
Pacificor Properties Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,020
Interest Rate
7.4%
Mortgage Type
FHA
Purchase Details
Closed on
Sep 2, 1997
Sold by
Klarik Lawrence
Bought by
Rodriguez Pedro
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$132,000
Interest Rate
7.54%
Purchase Details
Closed on
May 26, 1994
Sold by
Paul Charles
Bought by
Klarik Lawrence and Snk Investments
Purchase Details
Closed on
Mar 2, 1994
Sold by
Snk Investments
Bought by
Paul Charles
Purchase Details
Closed on
Aug 13, 1993
Sold by
Paul Charles S
Bought by
Snk Enterprises
Similar Homes in Long Beach, CA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Niazi Faizan | -- | Chicago Title | |
| Raja Payeman | -- | Chicago Title | |
| Niazi Faizan | $1,300,000 | Chicago Title Company | |
| Chieng Family Trust | -- | None Available | |
| Chieng Chieh N | $799,000 | Title365 | |
| Well Run Properties Llc | -- | None Available | |
| Deprez Johan | -- | Title365 | |
| Shea Colleen | -- | Title365 | |
| Rupley Katherine | -- | Title365 | |
| Rupley Katherine | $635,000 | Title365 | |
| Feldman Bradley E | $462,000 | Landsafe Title Of Ca Inc | |
| The Bank Of New York Mellon | $435,200 | Landsafe Title | |
| Powell Tim Roger | $875,000 | First American Title Ins Co | |
| Madsen Phillip A | $599,000 | Lawyers Title | |
| Cutrell Inc | -- | Lawyers Title | |
| Madsen Phillip A | -- | Lawyers Title | |
| Cutrell Adam K | $369,000 | Landsafe Title | |
| Ross Jamaica | $249,000 | Stewart Title | |
| Hud | $318,638 | First American Title Co | |
| Homeside Lending Inc | $318,638 | First American Title Ins Co | |
| Rodriguez Pedro | -- | First Southwestern Title Co | |
| Pacificor Properties Inc | -- | First Southwestern Title Co | |
| Figuerola Humberto | $298,000 | First Southwestern Title | |
| Rodriguez Pedro | $150,000 | North American Title Co | |
| Klarik Lawrence | -- | -- | |
| Paul Charles | -- | -- | |
| Snk Enterprises | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Niazi Faizan | $975,000 | |
| Previous Owner | Chieng Chieh Neng | $545,000 | |
| Previous Owner | Chieng Chieh N | $599,000 | |
| Previous Owner | Rupley Katherine | $476,250 | |
| Previous Owner | Feldman Bradley E | $345,500 | |
| Previous Owner | Powell Tim Roger | $137,500 | |
| Previous Owner | Powell Tim Roger | $650,000 | |
| Previous Owner | Madsen Phillip A | $479,200 | |
| Previous Owner | Cutrell Adam K | $295,200 | |
| Previous Owner | Ross Jamaica | $216,000 | |
| Previous Owner | Figuerola Humberto | $296,020 | |
| Previous Owner | Rodriguez Pedro | $132,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2023 06/30/23 | Sold | $1,300,000 | -1.9% | $398 / Sq Ft |
| 05/01/2023 05/01/23 | Pending | -- | -- | -- |
| 03/23/2023 03/23/23 | For Sale | $1,325,000 | +65.8% | $406 / Sq Ft |
| 03/22/2016 03/22/16 | Sold | $799,000 | -5.9% | $228 / Sq Ft |
| 02/13/2016 02/13/16 | Pending | -- | -- | -- |
| 09/15/2015 09/15/15 | For Sale | $849,000 | +33.7% | $243 / Sq Ft |
| 02/14/2013 02/14/13 | Sold | $635,000 | -0.6% | $195 / Sq Ft |
| 01/08/2013 01/08/13 | Pending | -- | -- | -- |
| 11/16/2012 11/16/12 | For Sale | $639,000 | -- | $196 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $19,177 | $1,326,000 | $816,000 | $510,000 |
| 2023 | $13,939 | $909,120 | $591,669 | $317,451 |
| 2022 | $13,121 | $891,295 | $580,068 | $311,227 |
| 2021 | $12,466 | $873,820 | $568,695 | $305,125 |
| 2019 | $12,230 | $848,204 | $551,828 | $296,376 |
| 2018 | $11,908 | $831,579 | $541,008 | $290,571 |
| 2016 | $9,367 | $660,547 | $457,703 | $202,844 |
| 2015 | $9,008 | $650,626 | $450,828 | $199,798 |
| 2014 | $8,932 | $637,882 | $441,997 | $195,885 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
Seller's Agent in 2023
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
2 in this area
143 Total Sales
-
Buyer's Agent in 2023
Sam Alherech
Buckingham Investments, Inc
(347) 517-6790
-
Nancy Deprez
Seller's Agent in 2016
Nancy Deprez
Vista Sotheby's Int'l Realty
(310) 739-8272
2 in this area
150 Total Sales
-
Fred Macias
Buyer's Agent in 2016
Fred Macias
Realty One Group West
(714) 342-9995
35 Total Sales
-
Tracy Garra
Buyer Co-Listing Agent in 2016
Tracy Garra
Tracy Garra, Broker
1 Total Sale
-
Carl Mitrak
Seller's Agent in 2013
Carl Mitrak
WINDERMERE DESERT PROPERTIES
(760) 773-9687
22 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC23047340
APN: 7281-013-001
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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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