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    1028 E 3Rd St

    Long Beach, CA 90802
    • $5,700,000
    • STATUS: Active
    • ON SITE: 91 days
    • ID#: 21-751042
    UPDATED: 121 min ago
    $5,700,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,452
      SQFT
    • $603
      $/SQFT
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    **FULLY RENOVATED: Over $50k Spent Per Unit** **5.4% Year One Cash-on-Cash Return** **100% Occupied w/Robust Rents** This 12-unit property offers 10 - one/bedrooms and 2- two/bedrooms w/two baths with all units fully remodeled to an extremely high standard, including wood laminate flooring, custom cabinetry, quartz countertops, farmhouse sinks, stainless steel appliances/dishwashers, ceiling fans/air-conditioning, bathroom vanities/porcelain tiled flooring and designer lighting throughout. The plumbing was updated to 100% copper and all units have their own private laundry and are separately metered for gas/electric. This location afford tenants the convenience of being adjacent to the hip/eclectic East Village Arts District as well as Retro Row while being just a short bike ride to Shoreline Village/Belmont Shore.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T23:42:41.19. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.brandiprattrealestate.com/homes/118512878
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    1028 E 3Rd St Long Beach, CA 90802

    • Price: $5,700,000
    • Status: Active
    • Updated: 121 min ago
    • ID#: 21-751042
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    9,452
    SQFT
    $603
    $/SQFT
    1962
    Built
    Neighborhood:
    Downtown Area, Alamitos Beach
    County:
    Los Angeles
    Area:
    Downtown Area, Alamitos Beach
    Property Description
    **FULLY RENOVATED: Over $50k Spent Per Unit** **5.4% Year One Cash-on-Cash Return** **100% Occupied w/Robust Rents** This 12-unit property offers 10 - one/bedrooms and 2- two/bedrooms w/two baths with all units fully remodeled to an extremely high standard, including wood laminate flooring, custom cabinetry, quartz countertops, farmhouse sinks, stainless steel appliances/dishwashers, ceiling fans/air-conditioning, bathroom vanities/porcelain tiled flooring and designer lighting throughout. The plumbing was updated to 100% copper and all units have their own private laundry and are separately metered for gas/electric. This location afford tenants the convenience of being adjacent to the hip/eclectic East Village Arts District as well as Retro Row while being just a short bike ride to Shoreline Village/Belmont Shore.
    Exterior Features

    Lot Size Area 7505 Other Structures None Parking Garage Garage Is Attached Roof Common Roof Total Parking 8

    Interior Features

    Bathroom Features TileShower And Tub Baths Total 0.00 Cooking Appliances MicrowaveOven-GasCooktop - Gas Cooling Air ConditioningCeiling Fan Equipment Ceiling FanDishwasherDryerMicrowaveWasherRange/OvenGarbage Disposal Flooring Ceramic TileHardwood Foundation Details Raised Heating Electric Laundry In Unit Water Heater Features Central Water HeaterGas

    Property Features

    Assessed Total Value 3200000 Gross Income 351384 Gross Operating Income 351384 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 247764.00 Number Of Buildings 1 Number Of Units 12 Owner Pays Water Property Condition Updated/Remodeled Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 98352 Type Of Units 12 Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lbr3s

    Listing provided courtesy of Byron Field DRE#01934775 of Keller Williams Larchmont.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T23:42:41.19. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    eXp Realty of California, Inc.
    2603 Camino Ramon, Suite 200
    San Ramon CA, 94583