NOT LISTED FOR SALE

702 E 3rd St Long Beach, CA 90802

East Village Neighborhood

Estimated Value: $1,304,459 - $1,515,000

5 Beds
2 Baths
3,264 Sq Ft
$430/Sq Ft Est. Value

Last Sold June 30, 2023

Last sale price $1,300,000 $398 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $9,351/month

39 Days on Market

Highlights

  • 0.06 Acre Lot
  • Laundry Room
  • Level Lot
  • Long Beach Polytechnic High School Rated A

About This Home

As of June 2023

702 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

Tyler Leeson

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

Property Details

Home Type

Apartment

Est. Annual Taxes

$19,177

Year Built

Built in 1919

Lot Details

0

Listing Details

  • Assessments: Yes
  • Price Per Unit: 331250
  • Property Attached: No
  • Water Sewer Expenses: 619.00
  • Zoning: LBPD30
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7281013001
  • Year Built: 1919
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 398.28

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 618.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 2613.60
  • Lot Size Acres: 0.0600

Multi Family

  • Electric Expense: 618.00
  • Fuel Expense: 618.00
  • Gross Income: 84840.00
  • Gross Operating Income: 82295.00
  • Gross Scheduled Income: 84840.00
  • Insurance Expense: 3000.00
  • Lot Size Area: 0.0600 Acres
  • Maintenance Expense: 2800.00
  • Net Operating Income: 54027.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 28268.00
  • Other Expense: 4239.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Actual Rent: 7070.00
  • Total Expenses: 28268.00
  • Vacancy Allowance: 2545

Tax Info

  • New Taxes Expense: 15756.00
  • Tax Block: 95
  • Tax Census Tract: 5762.00
  • Tax Lot: 4
  • Tax Tract Number: 576...
  • TaxOtherAnnualAssessmentAmount: 2519.00

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%
Views
141
Current Estimated Value
$1,403,865

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$103,865
Avg. Annual Appreciation
3.76%
Original Mortgage
$975,000
Outstanding Balance
$951,773
Interest Rate
6.57%
Mortgage Type
New Conventional
Estimated Equity
$452,092

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
$951,773
Interest Rate
6.57%
Mortgage Type
New Conventional
Estimated Equity
$452,092

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
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

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

Source: Public Records

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 $19,177 $1,352,520 $832,320 $520,200
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

    144 Total Sales

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  • Sam Alherech

    Buyer's Agent in 2023

    Sam Alherech

    Buckingham Investments, Inc

    (347) 517-6790

    2 in this area

    21 Total Sales

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  • Nancy Deprez

    Seller's Agent in 2016

    Nancy Deprez

    Vista Sotheby's Int'l Realty

    (310) 739-8272

    2 in this area

    146 Total Sales

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  • Fred Macias

    Buyer's Agent in 2016

    Fred Macias

    Realty One Group West

    (714) 342-9995

    36 Total Sales

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  • Tracy Garra

    Buyer Co-Listing Agent in 2016

    Tracy Garra

    Tracy Garra, Broker

    (949) 274-2583

    1 Total Sale

    Section Image
  • Carl Mitrak

    Seller's Agent in 2013

    Carl Mitrak

    WINDERMERE DESERT PROPERTIES

    (760) 773-9687

    21 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23047340

California Regional Multiple Listing Service (CRMLS)

APN: 7281-013-001

California Los Angeles County Long Beach 90802 East Village

702 E 3rd St, Long Beach, CA

This home is located at 702 E 3rd St, Long Beach, CA 90802 since 23 March 2023 and is currently estimated at $1,403,865, approximately $430 per square foot. This property was built in 1919. 702 E 3rd St is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, Franklin Middle School, and Long Beach Polytechnic 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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