1135 East 3rd Street

Long Beach, CA 90802

$2,250,000
Price
3
Beds
12
Baths
6,715 Sq. Ft.
$335 / Sq. Ft.
6,715
Sq. Ft.
$335
per Sq. Ft.

Description

Pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential...Pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential by updating the units and bringing rents closer to market levels.
  1. Listed by Damien Breaux • DRE #01460301 • Brokerage DRE #01220368 • Morgan Skenderian • db@morganskenderian.com
  2. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 1135 East 3rd Street

Parking Spaces Total
1
Private Pool
No
Total Units
11.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6715
Assessor Parcel Number
7275-005-018
Property Attached YN
false
LISTING UPDATED: 10/28/2024 08:29 AM

Property Details for 1135 East 3rd Street

StatusActive
MLS #PW24222836
Days on Market27
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
CountyLos Angeles County

Building Information for 1135 East 3rd Street

Building/Complex1135 E 3rd StFloor-Stories2Residences-Pet Policy-Year Built1923Building Size-

Property Information for 1135 East 3rd Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $2,016
  • Gross Scheduled Income: $144,756
  • Vacancy Allowance: 4342
  • Gross Operating Income: $140,413
  • Net Operating Income: $83,668
  • Laundry Income: $2,016
  • Gross Multiplier: 15.54
  • Cap Rate: 3.7
Expense Details
  • Operating Expense: $56,745
  • New Taxes Expense: $30,013
  • Fuel Expense: $2,556
  • Pest Control Expense: $1,080
  • Electric Expense: $2,556
  • Insurance Expense: $7,407
  • Maintenance Expense: $7,021
  • Professional Management Expense: $0
  • Other Expense: $1,000
  • Other Expense Description: admin
  • Trash Expense: $2,556
  • Water Sewer Expense: $2,556
  • Total Expenses: $56,745
Tax / Assessment Info
  • Tax Annual Amount: $30,013
  • Tax Block: 138
  • Tax Tract Number: 576501
  • Tax Census Tract: 5765.01
  • CFD/Mello-Roos Fee: $2,017
  • Tax Lot: 14
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 11
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking Garage Spaces: 1
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Downtown
  • Builders Tract Code: Downtown (DT)
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $916
  • Unit Type Total Rent: $7,355
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,290
  • Unit Type Total Rent: $2,580
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,980
  • Unit Type Total Rent: $1,980
  • Unit Type Pro Forma: 3295
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 1135 East 3rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1135 East 3rd Street

Taxable ValueLand$223,034Additions$335,217Total$558,251
Tax Record2024$9,000 ($750 / month)
Home Facts
Total Finished SqFt6,715 SqFtAbove Grade Finished SqFt6,715 SqFtLot Size8,459 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBR3SCountyLOS ANGELESAPN7275-005-018

Schools near 1135 East 3rd Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1135 East 3rd Street is a multi-family home for sale in Long Beach, CA 90802. This property was listed for sale on October 28, 2024 by Morgan Skenderian, it's currently listed at $2,250,000. It has been on the market for a total of 27 days and was last sold on December 24, 2001. This listing's school district is Long Beach Unified School District. Nearby schools include Stevenson Elementary School, Franklin Classical Middle School and Polytechnic High School. 1135 East 3rd Street is a 3-bed, 12-bath, 6,715 sqft multi-family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Morgan Skenderian, Damien Breaux, DRE #01460301; Morgan Skenderian, Rick Applebaum, DRE #01273871

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.