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4603 E Broadway Long Beach, CA 90803

$3,200,000 Sold Price as of 10/18/2022

5 Beds
5 Baths
4,300 Sq.Ft.

Sold

$3,200,000 Sold Price as of 10/18/2022 Refinance Your Mortgage

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Map preview of 4603 E Broadway, Long Beach, CA 90803

Property Overview: 4603 E Broadway Long Beach, CA has 5 bedrooms, 5 bathrooms, 4,300 living square feet and 7,170 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Stunning, remodeled 5-unit apartment building, with ocean views, located just minutes from the beach in Belmont Heights, one of Long Beach's most desirable neighborhoods. This turn-key gem has top-of-the-market rents and zero deferred maintenance, making it an ideal opportunity for any investor or exchange buyer looking for great cash-flow and extremely low maintenance. With 4,300 SqFt of rentable space, 4603 E Broadway is comprised of (4) oversized 1Bed/1Bath & (1) loft units, averaging 900 sqft each. All units have been tastefully remodeled, featuring hardwood floors, new cabinets, brand new stainless steel appliances and W/D in unit. 4603 E Broadway also features 3 garage parking spots, a rare commodity in the city of Long Beach. Beneficial to the new owner, each unit is separately metered for gas and electricity. Located in beautiful Belmont Heights, one of Long Beach's Top Rental Markets, 4603 E Broadway is just steps away from 2nd St, an area featuring many hip restaurants, bars and shopping. The upside in the Long Beach market is limitless, with $6 Billion in new capital pouring into projects such as the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 4 minutes ago | Last updated: October 18th, 2022 | Source CRMLS | DOM: 85

Home details

Lot Sq. Ft: 7,170
HOA Dues: $0/mo
Year built: 1922
Garage: 3 Car
Property Type:: Multi Family

Status: Sold
MLS#: SB22145999
City: Long Beach
County: Los Angeles
Time on Site: 640 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 5
Total # of Buildings: 2
# of Electric Meters: 5
# of Gas Meters: 5
# 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: $2,926
Total Rent: $2,926
Pro Forma/Market Rent: $3,200

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,926
Total Rent: $2,926
Pro Forma/Market Rent: $3,200

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,926
Total Rent: $2,926
Pro Forma/Market Rent: $3,200

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,926
Total Rent: $2,926
Pro Forma/Market Rent: $3,200

Unit Breakdown 5

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,926
Total Rent: $2,926
Pro Forma/Market Rent: $3,200

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 3.61%
Gross Rent Multiplier: 18.48
Gross Scheduled Income: $178,560
Net Operating Income: $118,965
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $54,238
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Professional Management: $0
Water/Sewer: $0

Property Details for 4603 E Broadway

Interior Features

Laundry Information

Has Laundry
Inside

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 3
# of Parking Spaces: 3

Lot Information

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

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 5
Parcel Number: 7250010014
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: On Broadway and Ximeno Ave

Neighborhood Information

Community Features: Biking, Curbs, Golf, Hiking, Gutters, Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 4603 E Broadway

Last sold for $3,200,000 on October 18th, 2022

October, 2022
Oct 18, 2022

Date

Sold

CRMLS: SB22145999

$3,200,000

Price
Jul 12, 2022

Date

Active

CRMLS: SB22145999

$3,300,000

Price
August, 2021
Aug 23, 2021

Date

Active

CRMLS: SB21161739

$3,300,000

Price
Aug 11, 2021

Date

Hold

CRMLS: SB21161739

$3,300,000

Price
Jul 23, 2021

Date

Coming Soon

CRMLS: SB21161739

$3,300,000

Price
Listing provided courtesy of CRMLS

Stunning, remodeled 5-Unit apartment building, with ocean views, located just minutes from the beach in Belmont Heights, one of Long Beach's most desirable neighborhoods. This turn-key gem has top-of-the-market rents and zero deferred maintenance, making it an ideal opportunity for any investor or exchange buyer looking for great cash-flow and extremely low maintenance. With 4,300 SqFt of rentable space, 4603 E Broadway is comprised of (5) oversized 1Bed/1Bath units, averaging 900 sqft each. All units have been tastefully remodeled, featuring hardwood floors, new cabinets, brand new stainless steel appliances and W/D in unit. 4603 E Broadway also features 3 garage parking spots, a rare commodity in the city of Long Beach. Beneficial to the new owner, each unit is separately metered for gas and electricity. Located in beautiful Belmont Heights, one of Long Beach's Top Rental Markets, 4603 E Broadway is just steps away from 2nd St, an area featuring many hip restaurants, bars and shopping. The upside in the Long Beach market is limitless, with $6 Billion in new capital pouring into projects such as the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown VIllage, Broadway Block, The Pacific and Queen Mary Island.

Continue Reading
December, 2019
Dec 18, 2019

Date

Sold (Public Records)

Public Records

$1,400,000

Price
December, 2019
Dec 18, 2019

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 4603 E Broadway

Assessed Value (2020): $1,400,000

Year	Land Value	Improved Value	Assessed Value
2020	$900,000	$500,000	$1,400,000

Home Value Compared to the Market

This property vs the competition

4603 E Broadway sold on October 18, 2022 for 334.21% higher than the current median sold price for the city of Long Beach which is $760,000. The median sold price per/sqft for Long Beach is $633 and this home is sold at $767.44 per/sqft which puts the price per square foot 21.24% higher than the current median sale per square foot for the city of Long Beach.

About 4603 E Broadway

Detailed summary of property

4603 E Broadway is a multi family that recently sold in Long Beach, CA 90803. This multi family property offered 5 bedrooms, 5 bathrooms, roughly 4,300 living square feet, and sits on an approximately 7,170 square foot lot. 4603 E Broadway was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $3,200,000. Home in Long Beach are selling for a median price of $760,000 and a median price per square foot of $633. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 334.21% higher than the current median priced home. Local homes that are currently for sale include 16861 Green Ln, 6062 Atlantic Ave and 6062 Atlantic Ave. While the average home in Long Beach, CA is selling in 56 days, 4603 E Broadway has a days on market of 85 days. There are currently 570 homes for sale in the Long Beach real estate market and 325 of them are single family homes while 233 of them are condos and 12 are townhomes. For more information on this home for sale at 4603 E Broadway 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 4603 E Broadway

Public county record property details

Beds: 5
Baths: 5
Year built: 1922
Sq. Ft.: 4,300
Lot Size: 7,169
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 10-12
APN: 7250-010-014

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

$1,479,000

Median List Price/Sq.Ft.

$800

Median Sold Price

$790,000

Median Sold Price/Sq.Ft.

$708

Total Inventory

Median Sale to List Price %

98.87%

Avg Days on Market

Loan Type

Conventional (45.83%), FHA (0%), VA (4.17%), Cash (33.33%), Other (16.67%)

Thinking of Selling?

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(714) 706-1823

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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.