Long Beach, CA 90802,1734 E 3rd ST
Long Beach, CA 90802,1734 E 3rd ST
Long Beach, CA 90802,1734 E 3rd ST
Long Beach, CA 90802,1734 E 3rd ST
Long Beach, CA 90802,1734 E 3rd ST
Long Beach, CA 90802,1734 E 3rd ST
See all 13 photos

$3,900,000

$4,400,000

11.4%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

8,272 Sqft Lot


SOLD DATE : 10/09/2023

Key Details

Sold Price $3,900,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW23048232

Sold Date 10/09/23

HOA Y/N No

Year Built 1942

Lot Size 8,272 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR2N

Interior

Fireplace No

Laundry None

Exterior

Parking Features None

Pool None

Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks

Private Pool No

Building

Lot Description 16-20 Units/Acre

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7275013018

Energy Description 1849.2

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


California Regional MLS (CRMLS)
Listed by Kevin King • Marcus & Millichap • kking@marcusmillichap.com
Bought with NONE NONE • None MRML

GET MORE INFORMATION

Kris Rainwaters

REALTOR® | Lic# 02111780

+1(602) 561-3114

PO Box 106 Lake Arrowhead, CA 92352

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.