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1734 3rd Street
Long Beach, CA 90802
Sold
We are pleased to present a 20 unit apartment building located in the heart of Alamitos Beach at 1734 E. 3rd Street in Long Beach, California. This is a value-add opportunity in an irreplaceable location. The subject property is walking distance to both to the Pacific Ocean and to 4th Street Retro Row where there are restaurants, boutique shops, bars and entertainment venues. The property was built in 1942 and consists of 12,566 rentable square feet spread throughout an 8,271 square foot lot. Sixteen of the apartment units are studios and four of the units are one bedroom and one bathroom units. It is also separately metered for gas and electricity which helps keep expenses to a minimum. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space. The Long Beach port has been undergoing $4.4 billion in redevelopment that will create 14,000 new and permanent jobs in Southern California. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.
PROPERTY INFORMATION
| MLS # | PW23048232 | Lot Size | 8,271 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 4,400,000
Price Per SqFt: $ 350 |
DOM | 774 Days |
| Address | 1734 3rd Street | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 12,566 Sq. Ft. |
| Postal Code | 90802 | Garage | N/A |
| County | Los Angeles | Year Built | 1942 |
| Bed / Bath | 1 / 0 | Parking | N/A |
| Built In | 1942 | Status | Closed |
| Sold Date | 2023-10-09 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $4,693
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 05/24/2023 | Price Change | $4,400,000 (-2.22%) |
| 03/27/2023 | Listed | $4,500,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Kevin King, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
