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535 W 3rd Street, Long Beach, CA 90802
$4,300,000
535 W 3rd Street, Long Beach, CA 90802View this property at 535 W 3rd Street, Long Beach, CA 90802
535 W 3rd StreetLong BeachCA90802
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Property Description
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.
Full Property Details
Full Property Details for 535 W 3rd St
General
- Sold For: $4,300,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW23224434
- Added to Site: 141 day(s) ago
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 8
Location
- Area: 4 - Downtown Area, Alamitos Beach
- County: Los Angeles
- Development Name: 4 - Downtown Area, Alamitos Beach
- Driving Directions: Near the corner of Magnolia & 3rd
Utilities
- Sewer: Public Sewer
- Water: Public
- # Gas Meters: 16
- # Electric Meters: 16
Structural Information
- Entry Location: 1
- Square Feet: 12,506
- Year Built: 1964
Unit Information
Unit 1
- Number of Units: 13
- Total Bathrooms: 2
- Bedrooms: 2
Unit 2
- Number of Units: 3
- Total Bathrooms: 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.1712
- Lot Size Source: Assessor
- Zoning: LBPD30
- Lot Description: Rectangular Lot
Financial Considerations
- Price Per Sq. Ft.: $343.83
- Price Per Unit: 268750
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Steven M. Bogoyevac, Broker, Steven Bogoyevac
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Schools
Schools serving 535 W 3rd St
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
730 W 3rd St, Long Beach, CA 90802 | PK-5 | 0.2 mi | |
1450 Cedar Ave, Long Beach, CA 90813 | 6-8 | 1 mi | |
2001 Santa Fe Ave, Long Beach, CA 90810 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 535 W 3rd St
Date
Details
Price
Change
Source
4/16/2024
Sold
$4,300,000
—
MLS
1/31/2024
Price Reduced
$4,300,000
-4.44%
MLS
12/11/2023
Listed
$4,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
535 W 3rd Street, Long Beach, CA 90802 (MLS# PW23224434) is a Multi-Family property that was sold at $4,300,000 on April 16, 2024. Want to learn more about 535 W 3rd Street? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.