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    555 E 3rd Street

    Long Beach, CA 90802
    • $1,100,000
    • STATUS: Pending
    • ON SITE: 57 days
    • ID#: SB21165871
    Pending
    UPDATED: 28 min ago
    $1,100,000
    • 0
      BEDS
    • 0.09
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    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 2021-09-24T23:28:51.397. 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 Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
    www.marknazzalrealty.com/homes/119810197
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    555 E 3rd Street Long Beach, CA 90802

    • Price: $1,100,000
    • Status: Pending
    • Updated: 28 min ago
    • 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 2021-09-24T23:28:51.397. 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 Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
     
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    Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center
    1473 Ford St., Suite 200
    Redlands CA, 92373