2930 E 3RD St - Apartments FOR SALE


Long Beach, CA 90814- Belmont Heights
$2,795,000 USD
562-884-6875
2930 E 3RD St, Long Beach, CA for Sale
$2,795,000 USD
Apartments - FOR SALE
1/13
null | 5.21% Cap Rate

2930 E 3RD St
Long Beach, CA 90814
Belmont Heights


HIGHLIGHTS

  • Prime Bluff Heights Location – Situated in one of Long Beach’s most desirable historic coastal neighborhoods, just blocks from the beach
  • Strong In-Place Income – Generating approximately $19,045/month, offering immediate, stable cash flow in a high-demand rental market
  • Attractive Unit Mix – Eight units featuring (4) 2BD/1BA and (4) 1BD/1BA layouts, appealing to a broad tenant base
  • Extensively Upgraded with Preserved Charm – Seven units renovated with modern kitchens and baths while maintaining classic Spanish character
  • ADU & Value-Add Potential – Five single-car garages provide a clear path for ADU conversion, creating additional income upside

OVERVIEW

Charming Spanish-style 8-unit building located in the highly desirable and historic Bluff Heights neighborhood of Long Beach. Built in 1931, 2930 E. 3rd Street offers 7,025 square feet on a 7,502 square foot lot, featuring an attractive unit mix of (4) two-bedroom, one-bath units and (4) one-bedroom, one-bath units, along with five single-car garages. Seven of the eight units were thoughtfully upgraded between 2016–2018 with modern kitchens and bathrooms, including new cabinetry, quartz countertops, and custom tile. The property retains its original charm with hardwood floors, faux fireplaces, plaster moldings, built-ins, and classic wood windows. Major system improvements include updated plumbing with new hot and cold water lines and a new main sewer line (2016–2017). With strong in-place income of $19,045 per month, the property provides immediate cash flow in a premier coastal rental market. The five garages also offer potential for ADU conversion, creating additional upside. A rare opportunity to acquire a well-maintained, character-rich asset in one of Long Beach’s most sought-after neighborhoods, offering both stable income and long-term appreciation potential.

FOR SALE DETAILS

PRICE

$2,795,000 USD

PRICE/SF

$398 USD /SF

# OF UNITS

8

PRICE/UNIT

$349,375

CAP RATE

5.21%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1931

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

LBR2A

APN/PARCEL ID

7257-025-012

ASK ABOUT THIS PROPERTY

Spencer PabstPabst, Kinney & Associates, Inc.More Info
562-884-6875

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Spencer PabstPabst, Kinney & Associates, Inc.More Info
562-884-6875

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.