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527 W 3Rd St, Long Beach, CA 90802
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527 W 3Rd St Long Beach, CA 90802

$8,700,000
  • 4 Beds
  • 36 Baths
  • 19,935 Sq.Ft.
For Sale
$8,700,000 Get Pre-Qualified
Map preview of 527 W 3Rd St, Long Beach, CA 90802

Property Overview: 527 W 3Rd St Long Beach, CA has 4 bedrooms, 36 bathrooms, 19,935 living square feet and 7,525 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 527 W. 3rd Street is a 36-unit apartment asset in prime Downtown Long Beach. The property features a mix of four (4) 1BD / 1 BA, (27) studios, and five (5) micro studios. Many of the units have been renovated with designer fixtures and finishes, including new countertops, cabinetry, tile and flooring in the kitchens and bathrooms, stainless steel appliances and lighting. The secured access building offers a bright, spacious entryway, new carpet and paint in hallways, and on-site laundry facilities. With its prime West Gateway location, the property provides convenient access to the newly redesigned Lincoln Park, an integral part of the 22- acre, $520 million Civic Center redevelopment project. The Long Beach Civic Center Master Plan includes a 270,000-square-foot City Hall, 93,500-square-foot landmark Main Library, updated bike/bus/Metro Blue Line transit system, design guidelines for 800 residential units, and vibrant amenities across the revitalized Downtown area. 527 W. 3rd Street presents a new buyer with a beautifully renovated asset in a highly desirable Long Beach location at 12.89 GRM on actual rents.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Last checked: 8 minutes ago | Last updated: March 18th, 2024 | Source CRMLS | DOM: 402
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Home details

Lot Sq. Ft
7,525
HOA Dues
$0/mo
Year built
1929
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
PW23051137
City
Long Beach
County
Los Angeles
Time on Site
416 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 36
  • Total # of Buildings: 1
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,838
  • Total Rent: $7,352
  • Pro Forma/Market Rent: $2,150
Unit Breakdown 2
  • # of Units: 27
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,526
  • Total Rent: $41,202
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 3
  • # of Units: 5
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,420
  • Total Rent: $7,100
  • Pro Forma/Market Rent: $1,595
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $675,200
  • Net Operating Income: $413,081
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $241,863
  • Electric: $12,130
  • Gas/Fuel: $12,130
  • Licenses: $1,200
  • New Taxes: $106,340
  • Trash: $12,130
  • Gardener: $1,200
  • Insurance: $16,945
  • Maintenance: $23,400
  • Professional Management: $33,398
  • Water/Sewer: $12,130
  • Other Expenses: $10,800
  • Other Expense Description: Reserves

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Property Details for 527 W 3Rd St

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 36-40 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 36
  • Parcel Number: 7278022039
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Downtown (DT)
  • Directions: Magnolia Ave & W 3rd St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 527 W 3Rd St

Last sold on February 16th, 2007

  • March, 2023

  • Mar 28, 2023

    Date

    Active

    CRMLS: PW23051137

    $8,700,000

    Price

  • February, 2007

  • Feb 16, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2005

  • Apr 27, 2005

    Date

    Sold (Public Records)

    Public Records

    $2,850,000

    Price

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Tax History for 527 W 3Rd St

Assessed Value (2020): $3,643,288
Year Land Value Improved Value Assessed Value
2020 $1,452,994 $2,190,294 $3,643,288

Home Value Compared to the Market

This property vs the competition

527 W 3Rd St is listed 988.86% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $643 and this home is listed at $436.42 per/sqft which puts the price per square foot 32.13% lower than the median price per square foot for the city of Long Beach.

About 527 W 3Rd St

Detailed summary of property

527 W 3Rd St is a mixed use located in Long Beach, CA 90802 and is currently for sale. This mixed use property offers 4 bedrooms, 36 bathrooms, roughly 19,935 living square feet, and sits on an approximately 7,525 square foot lot. 527 W 3Rd St was first listed on ArdentRealEstateGroup.com on March 29, 2023. The homeowner is currently asking $8,700,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $643. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 988.86% higher than the median priced home. While the average home in Long Beach, CA is selling in 51 days, 527 W 3Rd St has a days on market of 402 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 527 W 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 527 W 3Rd St

Public county record property details
Beds
6
Baths
--
Year built
1929
Sq. Ft.
19,935
Lot Size
7,525
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
23,24
APN
7278-022-039

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%)

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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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