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3650 E 2Nd St Long Beach, CA 90803

$3,150,000 Sold Price as of 05/08/2024

12 Beds
12 Baths
7,581 Sq.Ft.

Sold

$3,150,000 Sold Price as of 05/08/2024 Refinance Your Mortgage

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Map preview of 3650 E 2Nd St, Long Beach, CA 90803

Property Overview: 3650 E 2Nd St Long Beach, CA has 12 bedrooms, 12 bathrooms, 7,581 living square feet and 8,259 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Introducing "The Euclid," an exceptional garden-style building boasting 12 generously-sized one-bedroom units. This charming row-style building features 8 units on the first floor and 4 units on the second floor, offering a diverse layout to cater to various tenant preferences. Convenience meets functionality with storage facilities conveniently situated adjacent to the laundry room, ensuring tenants have ample space to organize their belongings. Adding to the appeal, four garages line the alley, providing secure parking for residents. Nestled in the coveted rental district of Belmont Heights, tenants relish the opportunity to indulge in the quintessential beach lifestyle. With a remarkable walkability score of 89, residents are mere moments away from the pristine shoreline, acclaimed eateries along 2nd Street, and the vibrant atmosphere of Broadway. Priced attractively at $275K per door, "The Euclid" presents an enticing investment opportunity. Additionally, the adjacent property at 3656 E. 2nd is also available for sale, offering prospective buyers the chance to expand their investment portfolio seamlessly. Don't miss the chance to own this gem in Belmont Heights—schedule a viewing of "The Euclid" today and secure your foothold in this thriving coastal community.

Listed by Juan Huizar | BRE #01417642 | Sage Real Estate
Co-listed by Caleb Baldwin | BRE #02056751 | Sage Real Estate

Last checked: 3 minutes ago | Last updated: May 8th, 2024 | Source CRMLS | DOM: 6

Home details

Lot Sq. Ft: 8,259
HOA Dues: $0/mo
Year built: 1921
Garage: 4 Car
Property Type:: Apartment

Status: Sold
MLS#: PW24062996
City: Long Beach
County: Los Angeles
Time on Site: 170 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 12
Total # of Buildings: 1
# of Leased Units: 12
# of Electric Meters: 12
# of Gas Meters: 1
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,675
Total Rent: $1,675
Pro Forma/Market Rent: $2,150

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,625
Total Rent: $1,625
Pro Forma/Market Rent: $2,150

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,300
Total Rent: $1,300
Pro Forma/Market Rent: $2,150

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,625
Total Rent: $1,625
Pro Forma/Market Rent: $2,150

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,700
Total Rent: $1,700
Pro Forma/Market Rent: $2,150

Unit Breakdown 6

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,575
Total Rent: $1,575
Pro Forma/Market Rent: $2,150

Unit Breakdown 7

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,625
Total Rent: $1,625
Pro Forma/Market Rent: $2,150

Unit Breakdown 8

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,300
Total Rent: $1,300
Pro Forma/Market Rent: $2,150

Unit Breakdown 9

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,550
Total Rent: $1,550
Pro Forma/Market Rent: $2,150

Unit Breakdown 10

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,025
Total Rent: $1,025
Pro Forma/Market Rent: $2,150

Unit Breakdown 11

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,650
Total Rent: $1,650
Pro Forma/Market Rent: $2,150

Unit Breakdown 12

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,725
Total Rent: $1,725
Pro Forma/Market Rent: $2,150

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 3.92%
Gross Rent Multiplier: 14.85
Gross Scheduled Income: $222,175
Net Operating Income: $129,240
Gross Operating Income: $215,510
Vacancy Allowance: $6,665
Laundry Income: $1,675
Laundry Own/Lease: Lease

Annual Expense Breakdown

Total Operating Expense: $86,270
Electric: $840
Gas/Fuel: $3,946
Licenses: $562
New Taxes: $41,250
Trash: $2,932
Gardener: $1,680
Insurance: $12,501
Professional Management: $17,796
Water/Sewer: $3,946

Property Details for 3650 E 2Nd St

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 4

Lot Information

Lot Features: 0-1 Unit/Acre
Lot Size Source: Assessor
Common Interest: Community Apartment

Property Information

Common Walls: No Common Walls
Total # of Units: 12
Parcel Number: 7256005008
Year Built Source: Assessor
Entry Level: 1
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Belmont Heights (BH)
Directions: Euclid and 2nd Street

Neighborhood Information

Community Features: Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 3650 E 2Nd St

Last sold for $3,150,000 on May 8th, 2024

May, 2024
May 8, 2024

Date

Sold

CRMLS: PW24062996

$3,150,000

Price
Apr 2, 2024

Date

Active

CRMLS: PW24062996

$3,300,000

Price
April, 2011
Apr 28, 2011

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 3650 E 2Nd St

Assessed Value (2020): $2,110,446

Year	Land Value	Improved Value	Assessed Value
2020	$1,405,766	$704,680	$2,110,446

Home Value Compared to the Market

This property vs the competition

3650 E 2Nd St sold on May 8, 2024 for 302.93% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $435.3 per/sqft which puts the price per square foot 30.68% lower than the current median sale per square foot for the city of Long Beach.

About 3650 E 2Nd St

Detailed summary of property

3650 E 2Nd St is a apartment that recently sold in Long Beach, CA 90803. This apartment offered 12 bedrooms, 12 bathrooms, roughly 7,581 living square feet, and sits on an approximately 8,259 square foot lot. 3650 E 2Nd St was first listed on ArdentRealEstateGroup.com on April 3, 2024. The homeowner sold the property for $3,150,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 302.93% higher than the current median priced home. Local homes that are currently for sale include 16861 Green Ln, 15408 Pioneer Blvd and 3300 W Orange Ave. While the average home in Long Beach, CA is selling in 62 days, 3650 E 2Nd St has a days on market of 6 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 3650 E 2Nd St Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 3650 E 2Nd St

Public county record property details

Beds: 12
Baths: 12
Year built: 1921
Sq. Ft.: 7,581
Lot Size: 8,257
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 7
APN: 7256-005-008

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,595,000

Median List Price/Sq.Ft.

$824

Median Sold Price

$1,000,000

Median Sold Price/Sq.Ft.

$755

Total Inventory

128

Median Sale to List Price %

100.2%

Avg Days on Market

Loan Type

Conventional (29.63%), FHA (0%), VA (3.7%), Cash (37.04%), Other (29.63%)

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Homes for Sale Near 3650 E 2Nd St

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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.