Long Beach, CA 90802 1135 E 3rd Street
$1,950,000
11 more
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
- MLS# PW24222836
- 10/28/2024
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 3
Baths • 4
SQFT • 6,715
Garage • 1
Home 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.
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
Interior Features for 1135 E 3rd Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1135 E 3rd Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.0
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsNorth of E. Broadway and East of Alamtios Avenue
Electric Expense2556.0
Entry Location1
Fuel Expense2556.0
Garage Spaces1.0
Garage Y/NYes
Gross Income2016.0
HOANo
Home Warranty Y/NNo
Insurance Expense7407.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet8459.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
Maintenance Expense7507.0
MobileHomeRemainsYNNo
Net Operating Income96634.0
New ConstructionNo
Number Of Units Total11
Operating Expense53498.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameDowntown (DT)
Tax Annual Amount26280.0
Tax Lot14
Taxes$26,280
Total Actual Rent12730.0
Trash Expense2556.0
Water Sewer Expense2556.0
Year Built1923
Year Built SourceAssessor
ZoningLBR3S
Exterior for 1135 E 3rd Street
Building Area Total6715.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1942
Lot Size Area8459.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters12
Number of Separate Gas Meters12
Number of Separate Water Meters1
Private PoolNo
SpaNo
Total Parking1.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate