$ 2,400,000
-
$2,400,000
Price -
4
Bed -
8
Bath -
7,562
SqFt
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About the Listing PB6704 - PREINCAR
The subject is a twelve-unit apartment complex with a prime location in the very desirable Belmont Heights neighborhood of Long Beach, California. The property includes three, two-story woodframe and stucco apartment buildings built in 1923 and renovated on multiple occasions. The buildings total 7,562 sf in size and are situated on a level, rectangular 6,189 sf parcel located on he southwest corner of East Broadway and Loma Avenue. This offering includes units at 3522-3536 East Broadway and 223 Loma Avenue. The property has a great unit mix consisting of five studio and seven one bedroom/one bath apartment units ranging to approximately 700 sf. Some units have balconies. East Broadway is a busy traffic corridor through the city and is developed with a mix of retail and office buildings as well as single-family homes and small apartment buildings. Belmont Heights is one of the area's most sought-after coastal submarkets with a broad tenant base of young professionals, families and long-term residents. Woodrow Wilson High School is located less than one mile northeast of the subject. The 229-acre, city-owned Recreation Park is located one mile to the northeast and features include a community center, two golf courses, a tennis center, fishing pond and a baseball stadium. The heart of trendy Belmont Shore is less than three-quarters of a mile to the east. California State University, Long Beach is located less than two miles to the northeast. City Beach, Bluff Park and Belmont Pier are a quarter-mile to the south. Long Beach Municipal Airport is located three miles to the north and has non-stop flights to twenty-one cities nationwide as well as one-stop flights to 400 cities worldwide. Anduril Industries, a cutting-edge defense technology company specializing n artificial intelligence applications has recently announced that it is commencing a $1 billion redevelopment of land adjacent to the Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. This is the first offering for sale of the Property since the current Owner acquired it in 2002. The Property is fully-occupied and rarely has vacant units. Current rental rates are below market, and the Property is subject only to State of California rent control. Most tenants occupy units on a month-to-month basis.
Listing Highlights
Status
Active
Days on Site
19
Property Type
Multi-Family
MLS ®
PW26094148
Year Built
1923
Total Square Footage
7,562
Lot/Acreage
0.14
Interior Details
- Bedrooms: 4
- Bathrooms: 8 Full
- Appliances: Electric Oven, Electric Range, Disposal
- Air Cond:
- Heating: Natural Gas,Wall Furnace
- Fireplaces:
- Floor: Carpet,Laminate,Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Balcony,Unfurnished
- Water: Public
Exterior Details
- Lot Description: 6-10 Units/Acre,Corner Lot,Near Park,Over 40 Units/Acre,Near Public Transit,Rectangular Lot,Sprinklers None,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof: Flat,Tar/Gravel
- Others: Awning(s),Repairs Cosmetic,Updated/Remodeled,Frame,Stucco,2+ Total Units
- Sewer: Public Sewer,Sewer Tap Paid
Financial Details
- Tax Amount: $29,953
- Taxes w/Assessments: N/A
- Tax/Property ID: 7264002021
- Tax Year: N/A
Payment Calculator
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Questions About..
3522 E Broadway Long Beach, CA 90803
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