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Listed by Melinda Elmer, DRE #01399946 • Century 21 Masters
$ 1,849,000
Est. payment /mo
Price Dropped by $50K
617 West 3rd ST Long Beach, CA 90802
7,508 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26065075
Year Built 1921
Lot Size 7,508 Sqft
Source California Regional MLS
Property Description
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 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 6.02% cap rate, offering stable in-place income wi
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Floor Furnace
Cooling None
Laundry None
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool 31, None
View Local/Neighborhood
Building
Water District - Public
Others
Tax ID 7278022021
Special Listing Condition Not Applicable
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