1837 E 3rd Street, Long Beach, CA 90802

$4,248,000
List Price
$4,248,000
Status
ACTIVE
MLS#
OC24139692
Year Built
1958
Lot Size
8,549
Acres
0.20
Lot Location
11-15 Units/Acre
Days on Market
28
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels
Neighborhood
Alamitos Beach (Ab)

Property Description

Prime Coastal Investment Opportunity Just three blocks from the beach, this 12-unit complex on 3rd St. boasts an impressive walk score of 96! On the market for the first time in 26 years, this well-maintained building features ten 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and one 2-bedroom/2-bathroom unit ideal for an owner's residence. Recently upgraded with vinyl windows, the property also includes on-site laundry facilities, six garages (two with driveways), and a secure, gated entrance. With over 25% upside potential, this property represents a rare chance to acquire a coastal asset with minimal rent control restrictions (limited to CA state laws). Don't miss out on this exceptional investment opportunity!

Additional Information

Pool Description
None
Garage Spaces Total
6
Sewer
Public Sewer
Attached Structure
Attached
Number Of Units Total
12
Gross Scheduled Income
$277,740
Operating Expense
80292

Listing courtesy of Listing Agent: Pat Swanson (pat.swanson@colliers.com) from Listing Office: Pat Swanson.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.