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    421 W. 3rd

    Long Beach, CA 90802
    • $2,575,000
    • STATUS: Active
    • ON SITE: 222 days
    • ID#: PW20029181
    UPDATED: 62 min ago
    $2,575,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,500
      SQFT
    • $343
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1910
    County:

    School Ratings & Info

    Description

    The perfect downtown Long Beach investment property. This charming craftsman is totally TURN KEY with 7 unique units located in the heart of a fast growing city and only 3 blocks to the beach. This property also falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up! Each unit is metered separately for gas and electric, has its own tankless water heater AND has private laundry inside each unit. WOW! There are 4 large one bedroom one bath with a lovely balance of upgrades yet keeping the charm alive with exposed beams, hardwood floors and built-ins. Each unit also has their own outdoor balcony space. The 5th one bedroom one bath is a totally remodeled, very popular Air B&B that brings more income to this investment property. Upstairs is a gorgeous 3 bedroom 2 bath with gas fireplace and comes with 2 parking spaces. The last unit is an adorable studio apartment. There are 5 parking spaces on site and one separate garage space on the property. This property is at 100% capacity and tenants that do not park on site, have assigned parking directly across the street at the Gallery. A modern courtyard separates the two structures complete with lounge seating and eating area. This property has 3 security gates that allows for private entry. This investment property has it all and you can't beat this prime location. Close to THE PIKE, shoreline drive, the promenade and freeways. Great opportunity for a 10-31 exchange!!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-19T23:25:52.863. 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 deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

    www.livelovethefoothills.com/homes/103068569
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    421 W. 3rd Long Beach, CA 90802

    • Price: $2,575,000
    • Status: Active
    • Updated: 62 min ago
    • ID#: PW20029181
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    7,500
    SQFT
    $343
    $/SQFT
    1910
    Built
    Neighborhood:
    Alamitos Beach (Ab)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    The perfect downtown Long Beach investment property. This charming craftsman is totally TURN KEY with 7 unique units located in the heart of a fast growing city and only 3 blocks to the beach. This property also falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up! Each unit is metered separately for gas and electric, has its own tankless water heater AND has private laundry inside each unit. WOW! There are 4 large one bedroom one bath with a lovely balance of upgrades yet keeping the charm alive with exposed beams, hardwood floors and built-ins. Each unit also has their own outdoor balcony space. The 5th one bedroom one bath is a totally remodeled, very popular Air B&B that brings more income to this investment property. Upstairs is a gorgeous 3 bedroom 2 bath with gas fireplace and comes with 2 parking spaces. The last unit is an adorable studio apartment. There are 5 parking spaces on site and one separate garage space on the property. This property is at 100% capacity and tenants that do not park on site, have assigned parking directly across the street at the Gallery. A modern courtyard separates the two structures complete with lounge seating and eating area. This property has 3 security gates that allows for private entry. This investment property has it all and you can't beat this prime location. Close to THE PIKE, shoreline drive, the promenade and freeways. Great opportunity for a 10-31 exchange!!
    Exterior Features

    Architectural Style Craftsman Fence YN Yes Fencing Security Garage Spaces 1.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 1.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area 1 Average Studio Area Units Square Feet Average1 Bed Area 5 Average1 Bed Area Units Square Feet Average2 Bed Area 0 Average2 Bed Area Units Square Feet Average3 Bed Area 1 Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Flooring Wood Laundry Features Inside Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Biking Country Us Electric Expense 500.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 20.00 Gross Income 100.00 Gross Scheduled Income 177384.00 Insurance Expense 0.00 Land Lease YN No Laundry Income 0.00 Laundry YN Yes Net Operating Income 145548.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 7 Number Wall AC 2 Operating Expense 31836.00 Pest Control Expense 50.00 Professional Management Expense 770.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Alamitos Beach (Ab) Total Expenses 16080.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Leslie Stonick of Compass and Kara Mirarchi of Compass Newport Beach


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-19T23:25:52.863. 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 deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

     
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    Claremont CA, 91711