$2,800,000 - 421 3rd, Long Beach

  • 10Beds
  • 8Baths
  • 5,292SQ. Feet
  • 0.17Acres

**PRICE DROP**NEW CAP RATE of 5% 10-31 exchanges & investors. Prime location. MIXED USE Located in the PD-30 Plan of downtown Long Beach, this 1910 Craftsman Multi-Unit investment property is looking for its new owners! Two structures, 7 unique units, 4 private parking spaces in the heart of a fast growing downtown & just 3 blocks from the beach. Hardwood floors, built-ins, exposed beams, new appliances & laundry in unit. Each unit has its own tankless water heater and is separately metered for gas & electric. This property is low maintenance & TURN KEY. Owners renovated after purchasing it and have made major capital improvements. New plumbing including main line. New electric. Updated Kitchens, Bathrooms and Laundry rooms. Each unit has its own private outdoor space. There is a shared courtyard with lounge seating and outdoor dining. Plenty of room for everyone's bikes & paddleboards. This prime location allows tenants to have the city life walking or biking to most major attractions like the Pike & Promenade. Freeways are conveniently located just minutes away from the property and don't forget about the new bridge into San Pedro for a fun afternoon or a hike in Palos Verdes. This property is located in the PD-30 Plan and is zoned for mixed use, commercial & residential. Would make an amazing live/work! In addition this property falls within the "Height Incentive Area" and allows investors to build up & add to the urban architectural skyline of downtown Long Beach.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW19134112
  • Price:$2,800,000
  • Bedrooms:10
  • Bathrooms:8.00
  • Full Baths:8
  • Square Footage:5,292
  • Acres:0.17
  • Year Built:1910
  • Type:Residential
  • Sub-Type:Combo - Res & Com
  • Style:Craftsman
  • Status:Active

Community Information

  • Address:421 3rd
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Downtown (DT)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90802

Amenities

  • Parking Spaces:1
  • Parking:Assigned, Driveway Level, Off Site, On Site, Private
  • # of Garages:1
  • View:City Lights View
  • Pool:None

Interior

  • Interior Features:Turnkey, Balcony, Beamed Ceilings, Brick Walls, Granite Counters, Pantry, Track Lighting
  • Appliances:Tankless Water Heater
  • Heating:Natural Gas
  • Cooling:Wall or Window Units
  • Fireplace:Yes
  • Fireplaces:Family Room, Gas
  • Stories:Two, Split Level

Exterior

  • Lot Description:6-10 Units/Acre, Value In Land

School Information

  • District:Long Beach Unified

Additional Information

  • Date Listed:May 7th, 2019
  • Days on Market:105
  • Zoning:PD-30
  • HOA Fees:0.00
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Provided By: Leslie Stonick(01363678), Compass.

Based on information from California Regional Multiple Listing Service, Inc. as of September 21st, 2019 at 6:12pm CDT. 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.