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Listing Details

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School Ratings & Info

Description

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 its 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. 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 deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/119810197
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555 E 3rd Street Long Beach, CA 90802

  • Price: $1,100,000
  • Status: Pending
  • ID#: SB21165871
0
Beds
0
Baths
0
½ Baths
0.09
Acres
1957
Built
Neighborhood:
Alamitos Beach (Ab)
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
Property Description
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 its 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.
Exterior Features

Lot Features Street Level Number Of Separate Electric Meters 2 Open Parking Spaces 4 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Garage YN No Gross Income 60412 Gross Scheduled Income 62280 Insurance Expense 1445 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 1868 Net Operating Income 39812 New Construction YN No New Taxes Expense 14487 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Operating Expense 20600 Other Expense 1600 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance 1868 Vacancy Allowance Rate 3 Water Source PublicPrivate Zoning Lbpd30

Listing provided courtesy of Brett Lyon of Lyon Stahl Investment Real Estate, Inc. and Joseph Stahl of Lyon Stahl Investment Real Estate, Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. 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 deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
 
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The Kohler Group | Zutila
4000 Barranca Parkway #105
Irvine CA, 92604