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 offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the… Read More city’s major employment hubs, the 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 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 presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 7.12% cap rate, offering stable in-place income with additional upside potential. Read Less
Property listed by Century 21 Masters, Melinda Elmer 562-316-2915
Listing Snapshot
Days Online
75
Last Updated
Property Type
MixedUse
Lot Size
0.17 Acres
Year Built
1921
MLS Number
PW26065075
Additional Details
Property Access
Road Surface: Paved
Building
Built in 1921, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: frist floor
CableAvailable, ElectricityAvailable, ElectricityConnected, NaturalGasAvailable, PhoneAvailable, PhoneConnected, SewerAvailable, SewerConnected, WaterAvailable, WaterConnected, Water Source: Public, 9 separate electric meters, 9 separate gas meters, 9 separate water meters
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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