1135 3rd st, Long Beach, CA 90802
Active
$1,950,000
13%
11 Units
3 Beds
4 Baths
6,715 Area(sq.ft.)
Lot: 8,459 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 8 | studio | 1 | No | $ 987 | $ 7,900 | $ 1,500 |
| Unit 2 | 2 | studio | 1 | No | $ 1,137 | $ 2,275 | $ 1,895 |
| Unit 3 | 1 | 3 | 2 | No | $ 2,155 | $ 2,155 | $ 3,295 |
| 11 | 3 | 12 | $ 12,325 | $ 69,905 | $ 19,085 |
| MLS #: | PW24222836MR |
| Days On Market: | 413 |
| Listing Date: | October 28, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 290 |
| Price per unit: | $ 177,273 |
| Year Built: | 1923 |
Property Details
Pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential by updating the units and bringing rents closer to market levels.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 150,132 |
| Total Annual Expense: | $ 53,498 |
| Net Operating Income: | $ 96,634 |
| Cap Rate: | 5% |
| Gross Rent Multiplier: | 12.60 |
| Actual Gross Rent: | $ 12,730 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR3S |
| Land Lease Type: | Fee |
Interior
| Laundry: | Community |
| Laundry Income: | 2016.00 |
Exterior
| Pool: | No |
Detailed Map
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Income
