$ 10,495,000
-
$10,495,000
Price -
5
Bed -
5
Bath -
19,248
SqFt
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About the Listing PB13351 - PBOYOSTE
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 Retro Row and Broadway. The area continues to attract a diverse renter base driven by lifestyle appeal, accessibility, and relative affordability compared to neighboring coastal markets. Long Beach’s multifamily fundamentals remain strong, supported by consistent population density, a growing employment base, and limited new housing supply. High renter demand, coupled with barriers to new development, continues to drive occupancy and rent growth, positioning well-located assets like 1212 and 1216 East 3rd Street for long-term performance.
Listing Highlights
Status
Active
Days on Site
58
Property Type
Multi-Family
MLS ®
PW26062312
Year Built
1957
Total Square Footage
19,248
Lot/Acreage
0.38
Interior Details
- Bedrooms: 5
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7275010004
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
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Questions About..
1212 E 3rd Long Beach, CA 90802
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