Long Beach, CA 90802 527 W 3rd Street
$8,700,000
15 more
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Home Details
527 W. 3rd Street is a 36-unit apartment asset in prime Downtown Long Beach. The property features a mix of four (4) 1BD / 1 BA, (27) studios, and five (5) micro studios. Many of the units have been renovated with designer fixtures and finishes, including new countertops, cabinetry, tile and flooring in the kitchens and bathrooms, stainless steel appliances and lighting. The secured access building offers a bright, spacious entryway, new carpet and paint in hallways, and on-site laundry facilities. With its prime West Gateway location, the property provides convenient access to the newly redesigned Lincoln Park, an integral part of the 22- acre, $520 million Civic Center redevelopment project. The Long Beach Civic Center Master Plan includes a 270,000-square-foot City Hall, 93,500-square-foot landmark Main Library, updated bike/bus/Metro Blue Line transit system, design guidelines for 800 residential units, and vibrant amenities across the revitalized Downtown area. 527 W. 3rd Street presents a new buyer with a beautifully renovated asset in a highly desirable Long Beach location at 12.89 GRM on actual rents.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
Interior Features for 527 W 3rd Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixStreet
General for 527 W 3rd Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market356
DirectionsMagnolia Ave & W 3rd St
Electric Expense12130.0
Fuel Expense12130.0
Garage Spaces0.0
Garage Y/NNo
Gross Income654944.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense16945.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet7525.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense23400.0
MobileHomeRemainsYNNo
Net Operating Income413081.0
New ConstructionNo
Operating Expense241863.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street Name3rd
Subdivision NameDowntown (DT)
Tax Lot24
Taxes$106,340
Total Units36
Trash Expense12130.0
View Y/NNo
Water Sewer Expense12130.0
Waterfront Y/NNo
Year Built1929
Year Built SourceAssessor
ZoningLBPD30
Exterior for 527 W 3rd Street
Building Area Total19935.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem3640UnitsAcre
Lot Size Acres0.1728
Lot Size Area7525.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480