527 West 3rd Street

Long Beach, CA 90802

$8,700,000
Price
1
Beds
36
Baths
19,935 Sq. Ft.
$436 / Sq. Ft.
19,935
Sq. Ft.
$436
per Sq. Ft.

Description

527 W. 3rd Street is a 36-unit apartment asset in prime Downtown Long Beach. The property features a mix of four (4) 1BD / 1 BA, (27) studios, and five (5) micro studios. Many of the units have been renovated with designer fixtures and finishes, including new countertops, cabinetry, tile and flooring in the kitchens and bathrooms, stainless steel appliances and lighting. The secured access building offers a bright, spacious entryway, new carpet and paint in hallways, and on-site laundry facilities....527 W. 3rd Street is a 36-unit apartment asset in prime Downtown Long Beach. The property features a mix of four (4) 1BD / 1 BA, (27) studios, and five (5) micro studios. Many of the units have been renovated with designer fixtures and finishes, including new countertops, cabinetry, tile and flooring in the kitchens and bathrooms, stainless steel appliances and lighting. The secured access building offers a bright, spacious entryway, new carpet and paint in hallways, and on-site laundry facilities. With its prime West Gateway location, the property provides convenient access to the newly redesigned Lincoln Park, an integral part of the 22- acre, $520 million Civic Center redevelopment project. The Long Beach Civic Center Master Plan includes a 270,000-square-foot City Hall, 93,500-square-foot landmark Main Library, updated bike/bus/Metro Blue Line transit system, design guidelines for 800 residential units, and vibrant amenities across the revitalized Downtown area. 527 W. 3rd Street presents a new buyer with a beautifully renovated asset in a highly desirable Long Beach location at 12.89 GRM on actual rents.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916

Property Details for 527 West 3rd Street

Parking Spaces Total
0
Private Pool
No
Total Units
36.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
19935
Assessor Parcel Number
7278-022-039
Property Attached YN
true
LISTING UPDATED: 08/30/2024 02:40 AM

Property Details for 527 West 3rd Street

StatusActive
MLS #PW23051137
Days on Market603
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1929
Lot Size0.17 AC / 7,525 SF
CountyLos Angeles County

Building Information for 527 West 3rd Street

Stories-Residences-Year Built1929Building Size-Lot Size0.17 AC / 7,525 SF

Property Information for 527 West 3rd Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $654,944
  • Gross Scheduled Income: $675,200
  • Net Operating Income: $413,081
Expense Details
  • Operating Expense: $241,863
  • New Taxes Expense: $106,340
  • Gardener Expense: $1,200
  • Fuel Expense: $12,130
  • Licenses Expense: $1,200
  • Electric Expense: $12,130
  • Insurance Expense: $16,945
  • Maintenance Expense: $23,400
  • Professional Management Expense: $33,398
  • Other Expense: $10,800
  • Other Expense Description: Reserves
  • Trash Expense: $12,130
  • Water Sewer Expense: $12,130
  • Total Expenses: $241,863
Tax / Assessment Info
  • Tax Block: 138
  • Tax Tract Number: 5759
  • Tax Census Tract: 5759.01
  • Tax Lot: 24
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 36
  • 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: Downtown
  • Builders Tract Code: Downtown (DT)
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,838
  • Unit Type Total Rent: $7,352
  • Unit Type Pro Forma: 2150
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 27
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,526
  • Unit Type Total Rent: $41,202
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,420
  • Unit Type Total Rent: $7,100
  • Unit Type Pro Forma: 1595
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 527 West 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 527 West 3rd Street

Taxable ValueLand$1,557,902Additions$2,347,656Total$3,905,558
Tax Record2024$55,890 ($4,658 / month)
Home Facts
Total Finished SqFt19,935 SqFtAbove Grade Finished SqFt19,935 SqFtLot Size7,525 SqFtStyleMulti-Family Res (5+ Units)Year Built1929ZoningLBPD30CountyLOS ANGELESAPN7278-022-039

Schools near 527 West 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
Chavez Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo 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.

Similar Homes

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Similar Sold Homes

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527 West 3rd Street is a mixed use property for sale in Long Beach, CA 90802. This property was listed for sale on March 28, 2023 by Keller Williams - Santa Monica, it's currently listed at $8,700,000. It has been on the market for a total of 603 days and was last sold on April 27, 2005. This listing's school district is Long Beach Unified School District. Nearby schools include Chavez Elementary School, Washington Middle School and Cabrillo High School. 527 West 3rd Street is a 1-bed, 36-bath, 19,935 sqft mixed use property built in 1929.

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 Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

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.