Address
421 W. 3rd Long Beach, CA
Price
$ 2,400,000
Property Attributes
  • MLS#PW20029181
  • TypeContingent
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodAlamitos Beach
  • Zip90802
  • StyleCraftsman
  • Price$ 2,400,000
  • Bedrooms7
  • Full Bathrooms7
  • Half Bathrooms0
  • Lot Size7,500 SqFt
Listing Provided Courtesy Of:
Leslie Stonick with Compass.
Data Source:
CRMLS
Property Description

Price improvement and priced to sell! A perfect downtown Long Beach investment property. Totally TURN KEY with 7 unique units located in the heart of a fast growing city and only 3 blocks to the beach. This property also falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up! Each unit is metered separately for gas and electric, has its own tankless water heater AND has private laundry inside each unit. WOW! There are 4 large one bedroom one bath with a lovely balance of upgrades yet keeping the charm alive with exposed beams, hardwood floors and built-ins. Each unit also has their own outdoor balcony space. The 5th one bedroom one bath is a totally remodeled, very popular Air B&B that brings more income to this investment property. Upstairs is a gorgeous 3 bedroom 2 bath with gas fireplace and comes with 2 parking spaces. The last unit is an adorable studio apartment. There are 5 parking spaces on site and one separate garage space on the property. This property is at 100% capacity and tenants that do not park on site, have assigned parking directly across the street at the Gallery. A modern courtyard separates the two structures complete with lounge seating and eating area. This property has 3 security gates that allows for private entry. This investment property has it all. Close to THE PIKE, shoreline drive, the promenade and freeways. Great opportunity for a 10-31 exchange!!

Price History
2/10/2020 Listed $2,800,000
3/27/2020 4% - $2,700,000
5/4/2020 4% - $2,600,000
7/13/2020 1% - $2,575,000
10/2/2020 3% - $2,500,000
12/18/2020 4% - $2,400,000

General Features

Architectural Style Craftsman
Co-Listing Agent State License # 02048543
Community Features Biking
Flooring Wood
Garage Spaces 1
Garage Y/N Yes
Levels Two
Listing Agent Leslie Stonick - BRE#01363678
Listing Agent State License 01363678
MLS Area 4 - Downtown Area, Alamitos Beach
Parking Features Assigned
Pool Features None
Property Attached Y/N Yes
Property Type Residential Income
Sewer Public Sewer
Subdivision Name Alamitos Beach (AB)
Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Total Units 7

Interior Features

Common Walls 1 Common Wall
Laundry Features Inside

Exterior Features

Fencing Security
Lot Features 0-1 Unit/Acre
Lot Size Acres 0.17
Lot Size Area 7500
Lot Size Source Assessor
Lot Size Square Feet 7500
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 7
Number of Separate Gas Meters 7
Number of Separate Water Meters 7
Total Parking 1
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90802

Price
AVG $570K
$2.4M
Visits
AVG 114
22
Year Built
AVG 1967
1910
Walkscore
AVG 88
93
Data Provided by Walkscore ® not using MLS data

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