3522 E Broadway, Long Beach, CA 90803
3522 E Broadway, Long Beach, CA 90803
3522 E Broadway, Long Beach, CA 90803
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,400,000
Est. payment /mo
6,189 Sqft Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Long Beach Park Tract

MLS Listing ID PW26094148

Construction Status Repairs Cosmetic,Updated/Remodeled

HOA Y/N No

Year Built 1923

Annual Tax Amount $29,953

Lot Size 6,189 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Interior

Interior Features Balcony, Unfurnished

Heating Natural Gas, Wall Furnace

Cooling None

Flooring Carpet, Laminate, Vinyl

Fireplaces Type None

Fireplace No

Appliance Electric Oven, Electric Range, Disposal

Laundry None

Exterior

Exterior Feature Awning(s)

Parking Features None

Pool None

Community Features Biking, Curbs, Dog Park, Fishing, Golf, Hiking, Lake, Sidewalks, Urban, Water Sports, Park

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View City Lights, Neighborhood

Roof Type Flat,Tar/Gravel

Accessibility None

Private Pool No

Building

Lot Description 6-10 Units/Acre, Corner Lot, Near Park, Over 40 Units/Acre, Near Public Transit, Rectangular Lot, Sprinklers None

Story 2

Entry Level Two

Sewer Public Sewer, Sewer Tap Paid

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Repairs Cosmetic,Updated/Remodeled

Others

Senior Community No

Tax ID 7264002021

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Carl Reinhart Carl Reinhart, Broker 714-404-8020, DRE #00647355

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