617 West 3rd Street,Long Beach, CA 90802
Long Beach, CA 90802
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 7.33% cap rate, offering stable in-place income with additional upside potential.
Details
| MLS # | PW26065075 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1921 |
| Days On Site | 151 |
| Listing Provided By | Century 21 Masters | Melinda Elmer |
Features
| SQ Feet | 7,190 |
|---|---|
| Garage | 2 |
| Story(s) | 2 |
| Units | 9 |
| Building(s) | 2 |
| Zoning | LBPD30 |
| Acreage | 0.17 |
| Property View | Yes |
Interior
| Cooling | None |
|---|---|
| Heating | Floor Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Walkstreet |
|---|
Parking
| Parking Features | Garage |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Water Available, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Downtown (DT) |
| Listing VS Median (in Downtown (DT)) | |
Price: $1,650,000 low | high Med: $1,650,000 sqft: 7,190 low | high Med: 7,190 $ / sqft: $229 low | high Med: $229 On site: 151 low | high Med: 151 | |
Market Activity 90802
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Downtown (DT) |
| Listing VS Median (in Downtown (DT)) | |
Price: $1,650,000 low | high Med: $1,650,000 sqft: 7,190 low | high Med: 7,190 $ / sqft: $229 low | high Med: $229 On site: 151 low | high Med: 151 | |
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