Long Beach, CA 90802,535 W 3rd ST
Long Beach, CA 90802,535 W 3rd ST
Long Beach, CA 90802,535 W 3rd ST
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$4,300,000

$4,300,000

Est.Price: ?

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Est. payment /mo

7,457 Sqft Lot


SOLD DATE : 04/16/2024

Key Details

Sold Price $4,300,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID PW23224434

Sold Date 04/16/24

HOA Y/N No

Year Built 1964

Lot Size 7,457 Sqft

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD30

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Urban

Total Parking Spaces 8

Private Pool No

Building

Lot Description Rectangular Lot

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7278022038

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com
Bought with Steven Bogoyevac • Steven M. Bogoyevac, Broker
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+1(951) 428-0833

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2603 Camino Ramon, Ramon, CA, 94583

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