$ 1,849,000
-
$1,849,000
Price -
9
Bed -
9
Bath -
7,190
SqFt
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About the Listing PB19104 - PELMEMEL,PI01354722
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 with additional upside potential.
Listing Highlights
Status
Active
Days on Site
54
Property Type
Multi-Family
MLS ®
PW26065075
Year Built
1921
Total Square Footage
7,190
Lot/Acreage
0.17
Interior Details
- Bedrooms: 9
- Bathrooms: 9 Full
- Appliances:
- Air Cond:
- Heating: Floor Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Walkstreet,No Land Lease
- Garage Capacity: 2 car
- Parking Spaces: 4
- Zoning: LBPD30
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7278022021
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
617 West 3rd St Long Beach, CA 90802
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