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Listed by Steven Bogoyevac, DRE #01332755 • Steven M. Bogoyevac, Broker
$ 10,495,000
Est. payment /mo
Price Dropped by $100K
1212 E 3rd Long Beach, CA 90802
0.38 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26062312
Year Built 1957
Lot Size 0.379 Acres
Source California Regional MLS
Property Description
The Cadillac is a 36-unit apartment community situated on two contiguous parcels at 1212 and 1216 East 3rd Street in the highly desirable Alamitos Beach neighborhood of Long Beach, California. This well-located asset boasts 3 brand new ADU's, 17 remodeled units, a stunning upgraded courtyard, and 11 percent rental upside. This offering represents a rare opportunity to acquire a scale asset in a premier coastal submarket with meaningful upside, recent capital improvements, and strong tenant demand fundamentals. The asset consists of two buildings featuring a diverse unit mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. Amenities include a courtyard with picnic areas, controlled access entry, and laundry facilities. Recent renovations incorporate modern interior finishes such as updated flooring, contemporary cabinetry, quartz countertops, and upgraded fixtures, contributing to strong tenant appeal and reduced ongoing maintenance needs. Remaining classic units provide a clear path for further interior upgrades and rental growth. Located just blocks from the coastline, Alamitos Beach is one of Long Beach's most vibrant and walkable neighborhoods, known for its proximity to waterfront recreation, dining, and retail along Retr
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Community Facility
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 7275010004
Special Listing Condition Not Applicable
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