3024 East 3rd Street

Long Beach, CA 90814

$4,500,000
Price
3
Beds
15
Baths
7,681 Sq. Ft.
$586 / Sq. Ft.
7,681
Sq. Ft.
$586
per Sq. Ft.

Description

3024 East 3rd Street is a remodeled 15-unit apartment building in Long Beach, California’s desirable Bluff Heights neighborhood. The property boasts three new ADU’s and a unit mix of three studios, 11 one-bed/one-baths, and one two-bed/one-bath. The building also offers on-site laundry.
3024 East 3rd Street is in an excellent rental location in the Bluff Heights neighborhood, known for its historic homes and tree-lined streets, one block to an elementary school, within easy walking distance of popular
...3024 East 3rd Street is a remodeled 15-unit apartment building in Long Beach, California’s desirable Bluff Heights neighborhood. The property boasts three new ADU’s and a unit mix of three studios, 11 one-bed/one-baths, and one two-bed/one-bath. The building also offers on-site laundry.

3024 East 3rd Street is in an excellent rental location in the Bluff Heights neighborhood, known for its historic homes and tree-lined streets, one block to an elementary school, within easy walking distance of popular restaurants along Broadway, and a half-mile to Bluff Park and the beach. This offering is an outstanding investment opportunity for any investor looking for an asset in great condition in a strong coastal rental market, and 14 percent rental upside offers growth potential.
  1. Listed by Steven Bogoyevac • DRE #01332755 • Brokerage DRE #01332755 • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com

Property Details for 3024 East 3rd Street

Parking Spaces Total
0
Private Pool
No
Total Units
15.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
7681
Assessor Parcel Number
7257-028-004
Property Attached YN
false
LISTING UPDATED: 12/16/2024 03:48 AM

Property Details for 3024 East 3rd Street

StatusActive
MLS #PW24250179
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1957
Lot Size0.17 AC / 7,501 SF
CountyLos Angeles County

Building Information for 3024 East 3rd Street

Stories2Residences-Year Built1957Building Size-Lot Size0.17 AC / 7,501 SF

Property Information for 3024 East 3rd Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $250,399
  • Gross Scheduled Income: $356,532
  • Net Operating Income: $250,399
  • Other Income Description: RUBS
  • Other Income 1: $10,842
  • Cap Rate: 5.56
Expense Details
  • Operating Expense: $106,279
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $106,279
Tax / Assessment Info
  • Tax Block: U
  • Tax Tract Number: n/a
  • Tax Census Tract: 5767.00
  • Tax Lot: 8
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,907
  • Unit Type Total Rent: $5,721
  • Unit Type Pro Forma: 1963
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,992
  • Unit Type Total Rent: $21,908
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,082
  • Unit Type Total Rent: $2,082
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 0

Property History for 3024 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 3024 East 3rd Street

Taxable ValueLand$1,989,765Additions$1,326,510Total$3,316,275
Tax Record2024$43,731 ($3,644 / month)
Home Facts
Total Finished SqFt7,681 SqFtAbove Grade Finished SqFt7,681 SqFtLot Size7,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningLBR2ACountyLOS ANGELESAPN7257-028-004

Schools near 3024 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
Charter - 9 to 12
Rating
School
Distance
Mann Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Clear Passage Educational Center
Charter9 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

3024 East 3rd Street is a mixed use property for sale in Long Beach, CA 90814. This property was listed for sale on December 16, 2024 by Steven M. Bogoyevac, Broker, it's currently listed at $4,500,000. It has been on the market for a total of 2 days and was last sold on June 1, 2021. This listing's school district is Long Beach Unified School District. Nearby schools include Mann Elementary School, Jefferson Leadership Academies School and Wilson High School. 3024 East 3rd Street is a 3-bed, 15-bath, 7,681 sqft mixed use property built in 1957.

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 Steven M. Bogoyevac, Broker, Steven Bogoyevac, DRE #01332755

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.