3109 East Corto Place

Long Beach, CA 90803

$3,290,000
Price
21
Beds
11
Baths
8,966 Sq. Ft.
$367 / Sq. Ft.
8,966
Sq. Ft.
$367
per Sq. Ft.

Description

Upgraded 9 units in the prime and desirable area of Bluff Heights which boarders Bluff Park and Belmont Heights. This 8,966 sqft, two-story balcony style building offer a very attractive unit mix of: (2)- 3bd/1.75ba units with fireplaces, (1)- 3bd/1ba unit and (6)- 2bd/1bath units, on-site laundry room and 5 single car garages accessed off the alley. Nearly all of the units (8 of 9) have been upgraded with dual pane windows, the kitchens have newer cabinets, countertops, tile flooring and the bathrooms...Upgraded 9 units in the prime and desirable area of Bluff Heights which boarders Bluff Park and Belmont Heights. This 8,966 sqft, two-story balcony style building offer a very attractive unit mix of: (2)- 3bd/1.75ba units with fireplaces, (1)- 3bd/1ba unit and (6)- 2bd/1bath units, on-site laundry room and 5 single car garages accessed off the alley. Nearly all of the units (8 of 9) have been upgraded with dual pane windows, the kitchens have newer cabinets, countertops, tile flooring and the bathrooms with vanities, tile in the shower & floors. Other upgrades in some units: crown molding, baseboards, 2 tone paint, upgraded interior doors, lighting, some electrical upgrades, professionally managed, spacious units, well cared for building, and more. It is located on a small and more private sub-street, Corto Place, which appears to have better off-street parking than the more busy street. Tenants will enjoy being just off East Broadway which offers many restaurants, coffee shops and shopping, plus it's near Belmont Shore, 4th Street and downtown giving them great access to restaurants, shopping, near the ocean and beaches, and close to many freeways, the Long Beach airport, CSLB, yacht clubs, and more.
  1. Listed by Louis Mannone • DRE #00933588 • Brokerage DRE #01896421 • Realty One Group West • 714-906-8571
  2. Listed by Nina Mannone • DRE #01851852 • Brokerage DRE #01896421 • Realty One Group West

Property Details for 3109 East Corto Place

Parking Spaces Total
5
Private Pool
No
Cooling Type
N/K
Total Units
9.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8966
Assessor Parcel Number
7264-005-021
LISTING UPDATED: 12/04/2024 06:45 AM

Property Details for 3109 East Corto Place

StatusActive
MLS #PW24219287
Days on Market54
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
CountyLos Angeles County

Building Information for 3109 East Corto Place

Building/Complex3109 E Corto PlFloor-Stories2Residences-Pet Policy-Year Built1964Building Size-

Property Information for 3109 East Corto Place

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Other
Income / Expense / Tax Details
Income Details
  • Gross Income: $256,152
  • Gross Scheduled Income: $256,151
  • Vacancy Allowance: 7650
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $248,501
  • Net Operating Income: $161,526
  • Number Of Rented Garages: 3
  • Laundry Income: $1,151
  • Gross Multiplier: 12.84
  • Cap Rate: 4.9
Expense Details
  • Operating Expense: $86,975
  • Operating Expense Percent: 35.00%
  • New Taxes Expense: $45,460
  • Gardener Expense: $2,478
  • Fuel Expense: $0
  • Electric Expense: $550
  • Insurance Expense: $4,296
  • Professional Management Expense: $6,000
  • Trash Expense: $0
  • Water Sewer Expense: $4,794
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: U
  • Tax Tract Number: 0
  • Tax Census Tract: 5767.00
  • CFD/Mello-Roos Fee: $1,913
  • Tax Lot: 34
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: Living Room
  • Fireplace Rooms: Living Room
  • Cooling: None
  • Heating Type: Radiant, Wall
  • Heating: Fireplace(s), Radiant, Wall Furnace
  • Heat Equipment: Fireplace, Radiant
Exterior Features
  • Entry Location: ground
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,995
  • Unit Type Total Rent: $2,995
  • Unit Type Pro Forma: 2995
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,700
  • Unit Type Total Rent: $1,825
  • Unit Type Pro Forma: 2195
  • 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: $1,935
  • Unit Type Total Rent: $1,935
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 3
Unit 4
  • 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: $2,400
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2400
  • Unit Type Type: 4
Unit 5
  • 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: No
  • Unit Type Actual Rent: $2,695
  • Unit Type Total Rent: $2,860
  • Unit Type Pro Forma: 2995
  • Unit Type Type: 5
Unit 6
  • 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: $2,195
  • Unit Type Total Rent: $2,195
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 6
Unit 7
  • 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: $2,195
  • Unit Type Total Rent: $2,195
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,050
  • Unit Type Total Rent: $2,215
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 8
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $2,300
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 3109 East Corto Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3109 East Corto Place

Taxable ValueLand$131,347Additions$400,903Total$532,250
Tax Record2024$8,562 ($714 / month)
Home Facts
Total Finished SqFt8,966 SqFtAbove Grade Finished SqFt8,966 SqFtLot Size7,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLBR2ACountyLOS ANGELESAPN7264-005-021

Schools near 3109 East Corto Place

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.

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3109 East Corto Place is a multi-family home for sale in Long Beach, CA 90803. This property was listed for sale on October 25, 2024 by Realty One Group West, it's currently listed at $3,290,000. 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. 3109 East Corto Place is a 21-bed, 11-bath, 8,966 sqft multi-family home built in 1964.

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 Realty One Group West, Louis Mannone, DRE #00933588; Realty One Group West, Nina Mannone, DRE #01851852

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.