1837 3Rd St, Long Beach, CA 90802
12 Unit Apartment Building | $4,295,000 ($357,917/Unit) | 4.35% Cap Rate | Long Beach, CA 90802
For Sale
Active
Asking Price $4,295,000
- Property Type
-
Multifamily
- Square Feet
- 9,378 SF
Listing Contacts
Patrick Swanson
Property Overview
Prime Coastal Investment Opportunity Just three blocks from the beach, this 12-unit complex on 3rd St. boasts an impressive walk score of 96! On the market for the first time in 26 years, this well-maintained building features ten 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and one 2-bedroom/2-bathroom unit ideal for an owner's residence. Recently upgraded with vinyl windows, the property also includes on-site laundry facilities, six garages (two with driveways), and a secure, gated entrance. With over 25% upside potential, this property represents a rare chance to acquire a coastal asset with minimal rent control restrictions (limited to CA state laws). Don't miss out on this exceptional investment opportunity!
Property Details
- Class
- C
- Year Built
- 1958
- Stories
- 2
- Lot Size (sq. ft)
- 8,712 SF
- Units
- 12
Highlights
- Trophy Location with Great Upside
- Three Blocks to the Water (Alamitos Beach)
- Walk Score of 96!
- Very Large Units
- Six Garages with Room to Park Behind
- Upgraded Vinyl Windows, On-Site Laundry and Gated Security Entrance
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