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3723 E 8Th St, Long Beach, CA 90804
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3723 E 8Th St Long Beach, CA 90804

$2,200,000 Sold Price as of 06/07/2023
  • 13 Beds
  • 8 Baths
  • 6,852 Sq.Ft.
Sold
$2,200,000 Sold Price as of 06/07/2023 Refinance Your Mortgage
Map preview of 3723 E 8Th St, Long Beach, CA 90804

Property Overview: 3723 E 8Th St Long Beach, CA has 13 bedrooms, 8 bathrooms, 6,852 living square feet and 6,098 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 3723 East 8th Street is an 8-unit multifamily investment property located in Long Beach, CA. 3723 East 8th Street offers an attractive mix of one and two-bedroom floor plans as well as 4 garage parking spaces, providing additional income potential. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 3723 East 8th Street represents an attractive value-add opportunity for a new owner. 3723 East 8th Street is situated in the desirable Eastside neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the Los Alamitos Traffic Circle, located within 1 mile of the property. 3723 East 8th Street is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its location within 0.90 miles of Pacific Coast Highway and 1.50 miles from State Route 22, connecting residents to employment hubs throughout Los Angeles and Orange Counties.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 9 minutes ago | Last updated: June 7th, 2023 | Source CRMLS | DOM: 57

Home details

Lot Sq. Ft
6,098
HOA Dues
$0/mo
Year built
1964
Garage
4 Car
Property Type:
Apartment
Status
Sold
MLS#
OC23013563
City
Long Beach
County
Los Angeles
Time on Site
603 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Leased Units: 8
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,882
  • Total Rent: $3,882
  • Pro Forma/Market Rent: $5,385
Unit Breakdown 2
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $8,765
  • Total Rent: $8,765
  • Pro Forma/Market Rent: $10,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $151,764
  • Net Operating Income: $92,960
  • Gross Operating Income: $148,411
  • Vacancy Allowance: $4,553
  • Other Income 1: $1,200
  • Other Income Description: Miscellaneous
Annual Expense Breakdown
  • Total Operating Expense: $55,452
  • Electric: $1,484
  • Gas/Fuel: $1,484
  • New Taxes: $26,204
  • Trash: $1,484
  • Insurance: $3,200
  • Maintenance: $6,000
  • Professional Management: $7,421
  • Water/Sewer: $1,487
  • Other Expenses: $6,688
  • Other Expense Description: Misc

Property Details for 3723 E 8Th St

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
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: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 7254015015
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: Nearby Cross Streets: East 8th Street & Euclid Avenue
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 3723 E 8Th St

Last sold for $2,200,000 on June 7th, 2023

  • June, 2023

  • Jun 7, 2023

    Date

    Sold

    CRMLS: OC23013563

    $2,200,000

    Price

  • Jan 25, 2023

    Date

    Active

    CRMLS: OC23013563

    $2,200,000

    Price

  • July, 1975

  • Jul 11, 1975

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 1974

  • Jun 12, 1974

    Date

    Sold (Public Records)

    Public Records

    $110,001

    Price

Show More

Tax History for 3723 E 8Th St

Assessed Value (2020): $241,717
Year Land Value Improved Value Assessed Value
2020 $35,794 $205,923 $241,717

Home Value Compared to the Market

This property vs the competition

3723 E 8Th St sold on June 7, 2023 for 168.62% 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 $321.07 per/sqft which puts the price per square foot 48.87% lower than the current median sale per square foot for the city of Long Beach.

About 3723 E 8Th St

Detailed summary of property

3723 E 8Th St is a apartment that recently sold in Long Beach, CA 90804. This apartment offered 13 bedrooms, 8 bathrooms, roughly 6,852 living square feet, and sits on an approximately 6,098 square foot lot. 3723 E 8Th St was first listed on ArdentRealEstateGroup.com on January 25, 2023. The homeowner sold the property for $2,200,000. 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 168.62% higher than the current median priced home. Local homes that are currently for sale include 441 Dawson Ave, 70 Roswell Ave and 70 Roswell Ave. While the average home in Long Beach, CA is selling in 62 days, 3723 E 8Th St has a days on market of 57 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 3723 E 8Th St Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 3723 E 8Th St

Public county record property details
Beds
13
Baths
8
Year built
1964
Sq. Ft.
6,852
Lot Size
6,089
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
13
APN
7254-015-015

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$500,000
Median List Price/Sq.Ft.
$622
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
44
Median Sale to List Price %
97.83%
Avg Days on Market
30
Loan Type
Conventional (62.5%), FHA (12.5%), VA (12.5%), Cash (12.5%), Other (0%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

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Recently Sold Homes Near 3723 E 8Th 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.

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