This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1316-1322 E 3rd St
Long Beach, CA 90802
Multifamily Property For Sale
·
12 Units
Property Facts
| No. Units | 12 | Lot Size | 0.19 AC |
| Property Type | Multifamily | Building Size | 10,048 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1989 |
| Building Class | C | Parking Ratio | 1.99/1,000 SF |
| Zoning | LBR3S | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 10,048 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | LBR3S |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Double Vanities
- Stainless Steel Appliances
About 1316-1322 E 3RD ST , LONG BEACH, CA 90802
1316-1322 E. 3rd Street is a 12-unit investment opportunity in prime Alamitos Beach. The property is comprised of a four-unit front building built in 1920 and an eight-unit rear building built in 1989. The property offers a desirable mix of 4 one-bedroom and 8 two-bedroom apartments. 9 of the 12 units are fully renovated, including new flooring, modern kitchens and baths, in-unit laundry, and upgraded fixtures throughout. On-site laundry is available for the remaining units. The asset provides ample parking in a severely under parked neighborhood, giving a new owner the opportunity to double the property's garage income. A total of 20 parking spaces is available, with 16 covered parking spaces and 2 two-car garages off the alley. The prime Alamitos Beach location gives tenants close access to Fourth Street/Retro Row, East Village and Downtown Long Beach. The property is also three blocks to the beach, bike path and ocean. This submarket commands rents that are approximately -/+19% higher on average than other Long beach neighborhoods. This property provides an excellent opportunity for a new buyer to own an attractive asset in one of the most desirable rental locations in Long Beach with the potential to increase income without any heavy renovations or unit turnovers.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,827 | 700 |
| 2+1 | 8 | $2,331 | 900 |
Property Taxes
| Parcel Number | 7275-011-004 | Improvements Assessment | $2,597,407 |
| Land Assessment | $2,187,291 | Total Assessment | $4,784,698 |
Property Taxes
