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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$ 4,300,000
Est. payment /mo
Pending
535 West 3rd Street Long Beach, CA 90802
12,506 SqFt
UPDATED:
09/09/2024 04:53 AM
Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 12,506 sqft
Price per Sqft $343
Subdivision Downtown
MLS Listing ID PW-23224434
Year Built 1964
Lot Size 7,458 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
Zoning LBPD30
Interior
Laundry Community
Exterior
Parking Features Gated
Garage Spaces 8.0
Pool None
Community Features Urban
Building
Lot Description Rectangular Lot
Sewer Public Sewer