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555 E 3rd St Long Beach, CA 90802

$1,153,000 Sold Price as of 12/23/2021

2 Beds
2 Baths
1,926 Sq.Ft.

Sold

$1,153,000 Sold Price as of 12/23/2021 Refinance Your Mortgage

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Map preview of 555 E 3rd St, Long Beach, CA 90802

Property Overview: 555 E 3rd St Long Beach, CA has 2 bedrooms, 2 bathrooms, 1,926 living square feet and 3,894 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 553-555 E 3rd Street is a unique fully VACANT duplex located in Downtown Long Beach, just a short commute to Long Beach Waterfront, Long Beach Convention Center, and the Aquarium of the Pacific. The 2-unit was built in 1957, but recently remodeled, and consisting of 1,926 SF of living space situated on a 3,894 SF lot. 553-555 E 3rd Street offers a unit mix consisting of (2) 1-Bed/1-Bath, which can be used as retail, residential space, or both. The property features open parking inside it’s private property gate. Located in one of the strongest rental markets in California and currently performing above a 3.5% cap rate - this is an excellent opportunity for an owner/user or a potential investor to obtain 30-year fixed residential financing while rates are at a historic low.

Listed by Brett Lyon | BRE #01717818 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Joseph Stahl | BRE #01399621 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 8 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 47

Home details

Lot Sq. Ft: 3,894
HOA Dues: $0/mo
Year built: 1957
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SB21165871
City: Long Beach
County: Los Angeles
Time on Site: 1149 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 1
# of Electric Meters: 2
# of Gas Meters: 2
# of Water Meters: 2

Unit Breakdown 1

# of Units: 2
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,595
Total Rent: $5,190
Pro Forma/Market Rent: $2,595

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $62,280
Net Operating Income: $39,812
Gross Operating Income: $60,412
Vacancy Allowance: $1,868

Annual Expense Breakdown

Total Operating Expense: $20,600
New Taxes: $14,487
Trash: $0
Gardener: $1,200
Insurance: $1,445
Maintenance: $1,868
Other Expenses: $1,600
Other Expense Description: Utility

Property Details for 555 E 3rd St

Interior Features

Laundry Information

Has Laundry
Common Area

Interior Features

Levels: One

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 4

Lot Information

Lot Features: Level with Street
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: 1 Common Wall
Total # of Units: 2
Parcel Number: 7281011026
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Private, Public

Location / Neighborhood

Location Information

Subdivision Name: Alamitos Beach (AB)
Directions: One parcel from the intersection of Atlantic Avenue an East 3rd Street.

Neighborhood Information

Community Features: Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 555 E 3rd St

Last sold for $1,153,000 on December 23rd, 2021

December, 2021
Dec 23, 2021

Date

Sold

CRMLS: SB21165896

$1,153,000

Price
Sep 15, 2021

Date

Pending

CRMLS: SB21165896

$1,100,000

Price
Jul 28, 2021

Date

Active

CRMLS: SB21165896

$1,100,000

Price
Listing provided courtesy of CRMLS
December, 2021
Dec 23, 2021

Date

Sold

CRMLS: SB21165871

$1,153,000

Price
Sep 15, 2021

Date

Pending

CRMLS: SB21165871

$1,100,000

Price
Aug 11, 2021

Date

Active

CRMLS: SB21165871

$1,100,000

Price
Aug 9, 2021

Date

Pending

CRMLS: SB21165871

$1,100,000

Price
Jul 28, 2021

Date

Active

CRMLS: SB21165871

$1,100,000

Price
June, 2021
Jun 11, 2021

Date

Sold

CRMLS: PW20212329

$699,500

Price
Apr 21, 2021

Date

Pending

CRMLS: PW20212329

$699,000

Price
Oct 16, 2020

Date

Active Under Contract

CRMLS: PW20212329

$699,000

Price
Oct 13, 2020

Date

Hold

CRMLS: PW20212329

$699,000

Price
Oct 8, 2020

Date

Active

CRMLS: PW20212329

$699,000

Price
Listing provided courtesy of CRMLS

We are pleased to present to you a very unique opportunity to own a 2 unit LIVE/WORK building developed in 1999. Located in the Heart of the East Village Arts District of Downtown Long Beach, CA this was a commercial space to Artist Live/Work conversion. Many options to use such as live in one and use the other for your business, keep as two live/work spaces or convert back to commercial only. Front Unit (535) has high wood beam ceilings, Rear Unit(555) has large Roll Up door. Each unit has kitchen with Stove. Concrete Floors throughout. Long Term tenants. Upside in rents. 4 off street parking spaces. High ceilings and roll up door access.

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Tax History for 555 E 3rd St

Assessed Value (2020): $210,548

Year	Land Value	Improved Value	Assessed Value
2020	$126,777	$83,771	$210,548

Home Value Compared to the Market

This property vs the competition

555 E 3rd St sold on December 23, 2021 for 34.31% 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 $571.13 per/sqft which puts the price per square foot 9.06% lower than the current median sale per square foot for the city of Long Beach.

About 555 E 3rd St

Detailed summary of property

555 E 3rd St is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered 2 bedrooms, 2 bathrooms, roughly 1,926 living square feet, and sits on an approximately 3,894 square foot lot. 555 E 3rd St was first listed on ArdentRealEstateGroup.com on July 28, 2021. The homeowner sold the property for $1,153,000. 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 34.31% higher than the current median priced home. Local homes that are currently for sale include 340 E 19th St, 1122 Cherry Ave and 2311 E 6th St. While the average home in Long Beach, CA is selling in 62 days, 555 E 3rd St has a days on market of 47 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 555 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 555 E 3rd St

Public county record property details

Beds: --
Baths: --
Year built: 1957
Sq. Ft.: 1,926
Lot Size: 3,893
Stories: 1

Type: Commercial (General)
Pool: No
Spa: No
County: Los Angeles
Lot#: 25,26
APN: 7281-011-026

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

$569,000

Median List Price/Sq.Ft.

$660

Median Sold Price

$515,000

Median Sold Price/Sq.Ft.

$619

Total Inventory

173

Median Sale to List Price %

100.39%

Avg Days on Market

Loan Type

Conventional (60.71%), FHA (7.14%), VA (0%), Cash (14.29%), Other (17.86%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(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.

555 E 3rd St Long Beach, CA 90802

Unit Mix Summary

Unit Breakdown 1

Property Income and Analysis

Annual Expense Breakdown

Property Details for 555 E 3rd St

Laundry Information

Interior Features

Exterior Features

Parking/Garage Information

Lot Information

Property Information

Utilities Information

Location Information

Neighborhood Information

Local Long Beach Agent

Sale History for 555 E 3rd St

Tax History for 555 E 3rd St

Home Value Compared to the Market

About 555 E 3rd St

Public Facts for 555 E 3rd St

90802 Real Estate Sale History (Last 30 days)

Thinking of Selling?

Homes for Sale Near 555 E 3rd St

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Recently Sold Homes Near 555 E 3rd St

$1,900,000 Last Sold Price

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