617 W 3rd St - Multi-Family FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$1,899,000 USD
805-709-4828
617 W 3rd St, Long Beach, CA for Sale
$1,899,000 USD
Multi-Family - FOR SALE
1/19
null | 6.02% Cap Rate

617 W 3rd St
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Central downtown location
  • Great walkability and transit access
  • Utility upgrades

OVERVIEW

Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street Long Beach offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, this property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and its accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access.The property itself presents a rare opportunity for investors to capture both immediate income and future upside. 9 units comprising of 2 4-unit apartment style buildings and 1 Craftsman Single Family with a 2 car garage in between. Several of the units have recent upgrades, recent utility upgrades have been completed as well, fully rented with a number of long term tenants.

FOR SALE DETAILS

PRICE

$1,899,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

9

PRICE/UNIT

$211,000

CAP RATE

6.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3rd St Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

7278-022-021

ASK ABOUT THIS PROPERTY

Jim Kelsey CCIMCentury 21 MastersMore Info
805-709-4828

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Jim Kelsey CCIMCentury 21 MastersMore Info
805-709-4828

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