1518 E 3rd Street, Long Beach, CA 90802 | PW19229471 | Berkshire Hathaway HomeServices California Properties

1518 E 3rd Street $6,850,000

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    1518 E 3rd Street Long Beach, CA 90802

    • 0 Beds
    • 0 Baths
    • 16,428 sq. ft.
    • Multi-Family
    • MLS# PW19229471
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    Views: 277 Days On Market: 382

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    Property Details

    1518 E. 3rd Street is a 22-unit apartment complex located in prime Alamitos Beach, just three blocks to the ocean and bike path. The property offers a desirable mix of (19) one-bedroom and (3) two-bedroom units. Seventeen of the 22 units are fully renovated, including new flooring, modern kitchens and baths and upgraded fixtures throughout. A majority of remodeled apartments have in-unit washer/dryers and on-site laundry is available for the remaining units. The property is in close proximity to the hip boutiques, restaurants and bars along Fourth Street/Retro Row and along the Broadway Corridor. The neighborhood is also adjacent to East Village Arts District, Downtown Long Beach and a myriad of employment opportunities. According to Niche website, Alamitos Beach ranks as the number three of 47 Best Neighborhoods for Young Professionals. Rents in this submarket are 19% higher than other Long Beach submarkets, on average. 1518 E. 3rd Street is an attractive investment asset with rental upside potential in an outstanding Alamitos Beach location with historically low vacancy rates.

    • General Features
      • Number Of Separate Water Meters 1
      • Number Of Separate Electric Meters 23
      • Number Of Separate Gas Meters 1
      • Number Of Units Total 22
      • Year Built 1964
      • Subdivision Name Alamitos Beach (AB)
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Community Features Sidewalks,Urban
    • Building Features
      • Heating Radiant
      • Laundry Features Individual Room
      • Levels Three Or More
    • Property Features
      • Lot Size Acres 0.18
      • Lot Features 21-25 Units/Acre
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 16.00

    Contact

    Isai Diego

    Isai Diego

    Realtor®

    DRE#02042532

    Lakewood Branch Office DRE 00338699

    Text: 562-653-6444

    Neighborhood

    90802 (Long Beach) Demographics

    36 Median Age
    6,149 Population Density (per sq. mile)
    46% College Educated
    $45,689 Estimated Median Income
    4,258 Estimated Total Home Owners
    16,352 Estimated Total Renters
    21% / 79% Estimated Owner / Renter Divide
    4 Estimated Average Household Size
    39,873 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $446,500 Median Sales Price
    26 Homes Sold
    81 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $6,850,000
        10/13/2020 9:17:29 AM Status Changed Source New Value: Pending
        7/30/2020 11:00:05 AM Price Reduced Source New Value: $6,850,000 -4.2%
        9/27/2019 9:49:00 AM New in Database Source New Value: $7,150,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 10/21/2020 5:45:31 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.