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1347 E 3rd St, Long Beach, CA 90802
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1347 E 3rd St Long Beach, CA 90802

$3,575,000 Sold Price as of 03/25/2021
  • 13 Beds
  • 13 Baths
  • 10,042 Sq.Ft.
Sold
$3,575,000 Sold Price as of 03/25/2021 Refinance Your Mortgage
Map preview of 1347 E 3rd St, Long Beach, CA 90802

Property Overview: 1347 E 3rd St Long Beach, CA has 13 bedrooms, 13 bathrooms, 10,042 living square feet and 13,068 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1347 East 3rd Street is an 11-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California. Built in 1949, 1347 East 3rd Street offers 10, spacious 1 bed/1 bath units and 1, 3 bed/2.5 bath townhouse. The well-maintained property has recently been renovated with luxury unit upgrades including modern lighting, hardwood floors, paint, ceiling fans, countertops, cabinets, and appliances. In addition to the upgrades, the property features amenities including garage and uncovered parking, private patios and balconies, and in unit washer and dryer hook-ups.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 117

Home details

Lot Sq. Ft
13,068
HOA Dues
$0/mo
Year built
1949
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC20200600
City
Long Beach
County
Los Angeles
Time on Site
1330 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 1
  • # of Leased Units: 11
  • # of Electric Meters: 11
  • # of Gas Meters: 11
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 10
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $16,375
  • Total Rent: $16,375
  • Pro Forma/Market Rent: $19,950
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $236,100
  • Net Operating Income: $148,209
  • Gross Operating Income: $234,017
  • Vacancy Allowance: $7,083
  • Other Income 1: $5,000
  • Other Income Description: Miscellaneous
Annual Expense Breakdown
  • Total Operating Expense: $85,808
  • Electric: $2,640
  • Gas/Fuel: $2,640
  • New Taxes: $46,347
  • Trash: $2,640
  • Insurance: $4,400
  • Maintenance: $6,600
  • Professional Management: $11,701
  • Water/Sewer: $2,640
  • Other Expenses: $6,200
  • Other Expense Description: Misc

Property Details for 1347 E 3rd St

Interior Features
Laundry Information
  • Has Laundry
  • Electric Dryer Hookup, Washer Hookup
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 11
  • Parcel Number: 7275009022
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Nearby Cross Streets: East 3rd Street & Esperanza Avenue
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1347 E 3rd St

Last sold for $3,575,000 on March 25th, 2021

  • March, 2021

  • Mar 25, 2021

    Date

    Sold

    CRMLS: OC20200600

    $3,575,000

    Price

  • Feb 18, 2021

    Date

    Pending

    CRMLS: OC20200600

    $3,685,000

    Price

  • Jan 19, 2021

    Date

    Active Under Contract

    CRMLS: OC20200600

    $3,685,000

    Price

  • Sep 25, 2020

    Date

    Active

    CRMLS: OC20200600

    $3,685,000

    Price

  • June, 2016

  • Jun 30, 2016

    Date

    Sold (Public Records)

    Public Records

    $3,225,000

    Price

  • December, 2015

  • Dec 4, 2015

    Date

    Sold (Public Records)

    Public Records

    $2,200,000

    Price

Show More

Tax History for 1347 E 3rd St

Assessed Value (2020): $3,494,032
Year Land Value Improved Value Assessed Value
2020 $1,082,432 $2,411,600 $3,494,032

Home Value Compared to the Market

This property vs the competition

1347 E 3rd St sold on March 25, 2021 for 360.62% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $366.96 per/sqft which puts the price per square foot 41.94% lower than the current median sale per square foot for the city of Long Beach.

About 1347 E 3rd St

Detailed summary of property

1347 E 3rd St is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered 13 bedrooms, 13 bathrooms, roughly 10,042 living square feet, and sits on an approximately 13,068 square foot lot. 1347 E 3rd St was first listed on ArdentRealEstateGroup.com on September 25, 2020. The homeowner sold the property for $3,575,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 360.62% higher than the current median priced home. Local homes that are currently for sale include 1217 Cedar Ave, 5 Loma Ave and 208 Granada Ave. While the average home in Long Beach, CA is selling in 51 days, 1347 E 3rd St has a days on market of 117 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 1347 E 3rd St Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1347 E 3rd St

Public county record property details
Beds
13
Baths
12
Year built
1949
Sq. Ft.
10,042
Lot Size
12,983
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7275-009-022

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$530,000
Median List Price/Sq.Ft.
$630
Median Sold Price
$540,000
Median Sold Price/Sq.Ft.
$627
Total Inventory
130
Median Sale to List Price %
102.86%
Avg Days on Market
37
Loan Type
Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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