Posted 26 days ago

1234 E 3rd St, Long Beach CA 90802

6,547 sqft | Multi-Family Home
$1,439,000
Price reduced by $110,000
Description provided by Trulia.
Description provided by Realty Trac.
HUGE $110,000 PRICE REDUCTION!!! 7.24% CAP RATE AND ONLY 9.7 X GROSS ON CURRENT RENTS! Just 3 blocks from the beach. Well maintained 15 units located on quiet residential street in Alamitos Beach area. Newer exterior paint. New roof in 2008. New solar system in 2008 has reduced owners annual electrical expense to just $120. The solar panels make the units easier to rent because tenants want to live in an eco-friendly complex. Beautiful courtyard area with lots of plants. Three enclosed garages plus plenty of street parking. Gross multiplier and cap rate below are based on ACTUAL income and expenses. Market rents in area are Singles: $850, 1 br: $1000, 2 br: $1150. Market GSI $168,420. Only 8.5 x gross and 8.65% cap rate on realistic market rents. See rent roll and cash flow analysis in Media… Show more for more information.
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Home facts for 1234 E 3rd St

Listing Details

Status For Sale
Listing Type Resale
MLS/Source ID S594014
Price/sqft $220
Total views
(as of 11/24/09)
26

 

Days on Trulia 26
ZIP code 90802
Neighborhood Downtown Long Beach
Price History
Date Event Price Source
11/20/2009 Price change $1,439,000 Keller Williams Realty
10/30/2009 Price change $1,549,000 Keller Williams Realty

Contact info

Mike Lembeck
Broker: William Sloan
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Additional information about 1234 E 3rd St

This property
$1,439,000
Similar homes for sale
$1,499,000
Recently sold homes
$1,232,814
1234 East 3rd Street, Long Beach CA
1234 E 3rd St, Long Beach CA
$1,439,000
      6,547 sqft
Multi-Family Home
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Average listing price is $1,499,000
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Average sales price is $1,232,814
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This home
Listing price: $1,439,000
 
Compared to similar homes
Avg. listing price: $1,499,000 -4%
Avg. sales price: $1,232,814 +17%
Avg. price/sqft: $183 +20%
 
Compared to Downtown Long Beach
Avg. listing price: $341,450 +321%
Avg. sales price: $296,917 +385%
Avg. price/sqft: $240 -8%
Comparisons are relative to similar homes on Trulia and are intended as a guide only. Home values are affected by many factors—find out more
Elementary
Middle
High
SCHOOL NAME SCHOOL TYPE PARENT RATING DISTANCE (mi)
St Anthony Elementary School
Catholic
0.36
As a parent of two, Im expecting catholic schools is a better school and can provide a better education. Im very dissapointed that St. Anthony elementary…
Robert L Stevenson Elementary School
Long Beach Unified School District
Public
0.51
my daughter attended stevenson school i liked the school because the teachers were good cared for their students and i was a volunteer in my daughters…
Luther Burbank Elementary School
Long Beach Unified School District
Public
0.66
I am so proud of our teachers and their willingness to do whatever it takes for our students.
City Christian School
Private
0.7
Abraham Lincoln Elementary School
Long Beach Unified School District
Public
0.76
I am a parent of a child that is in the G.A.T.E./EXCEL Program and I feel that this program is not helping my son reach his full potential
View all schools in:   Long Beach Unified School District
Proximity to this address does not guarantee enrollment eligibility. Please contact a local real estate pro for more info
Resource Center
This Multi-Family Home located at 1234 E 3rd St, Long Beach CA, 90802 is currently for sale and has been listed on Trulia for 26 days. This property is listed by Keller Williams Realty for $1,439,000. 1234 E 3rd St has has approximately 6,547 square feet. 1234 E 3rd St is in the Downtown Long Beach neighborhood in Long Beach and in ZIP Code 90802. The list price of $1,439,000 is 321% higher than the average list price of $341,450 for Downtown Long Beach real estate, 307% higher than the average list price of $353,296 for 90802 real estate, and 197% higher than the average list price of $484,583 for Long Beach, CA real estate. The price for this property is 385% higher than the average sales price of $296,917 for Downtown Long Beach, 366% higher than the average sales price of $308,807 for 90802, and 309% higher than the average sales price of $351,841 for Long Beach. The price per square foot for this property is $220, which is 8% lower than the average of $240 for Downtown Long Beach, 19% lower than the average of $271 for 90802 and 16% lower than the average of $261 for Long Beach.
School information provided by OnBoard Informatics Copyright (c) 2008. Information is deemed reliable but not guaranteed.
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