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… Read More the 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 7.33% cap rate, offering stable in-place income with additional upside potential. Read Less
Courtesy of Century 21 Masters 800-463-0977
Listing Snapshot
Days Online
169
Last Updated
Property Type
Other
Beds
9
Square Ft.
7,190
Lot Size
0.17 Acres
Year Built
1921
MLS Number
PW26065075MR
Additional Details
Building
7,190 sq ft, Built in 1921, Detached/No Common Walls
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