Skip to main content

Multifamily

1212 & 1216 E 3rd St

1212 & 1216 E 3rd St, Long Beach, CA 90802

Listing Price: $11,340,000

Cap Rate
4.06%
Number of Units
36
Price/Unit
$315,000
Price/Gross SF
$589.15
Gross SF
19,248

Investment Overview

Marcus & Millichap is pleased to present to market 1212 and 1216 East 3rd Street, a 36-unit apartment community on two contiguous parcels in Long Beach, California. With three brand new ADU’s, 17 remodeled units, a great location in the Alamitos Beach neighborhood, and 16 percent rental upside, this offering is a great investment opportunity. The subject property consists of two two-story buildings with a mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. The buildings share a beautifully landscaped courtyard with picnic tables for tenants’ enjoyment and also feature controlled access and shared laundry.

Investment Highlights

  • 36 Units on Two Contiguous Parcels in Long Beach's Popular Alamitos Beach Neighborhood
  • Property Boasts Three Brand New ADU's and 17 Units Have Been Remodeled
  • Mix Of 18 Studios, 15 One-Bed/One-Bath Units, One Two-Bed/One-Bath Unit, and Two Two-Bed/Two-Bath Units
  • 16 Percent Rental Upside
  • Offered Along With 338 Linden Avenue, a 17-Unit Apartment Building in Long Beach | Assets Available Separately or Together

Exclusively Listed By

Financing By

Multifamily

1212 & 1216 E 3rd St

Listing Price: $11,340,000

Cap Rate
4.06%
Number of Units
36
Price/Unit
$315,000
Price/Gross SF
$589.15
Gross SF
19,248

Investment Highlights

  • 36 Units on Two Contiguous Parcels in Long Beach's Popular Alamitos Beach Neighborhood
  • Property Boasts Three Brand New ADU's and 17 Units Have Been Remodeled
  • Mix Of 18 Studios, 15 One-Bed/One-Bath Units, One Two-Bed/One-Bath Unit, and Two Two-Bed/Two-Bath Units
  • 16 Percent Rental Upside
  • Offered Along With 338 Linden Avenue, a 17-Unit Apartment Building in Long Beach | Assets Available Separately or Together

Investment Overview

Marcus & Millichap is pleased to present to market 1212 and 1216 East 3rd Street, a 36-unit apartment community on two contiguous parcels in Long Beach, California. With three brand new ADU’s, 17 remodeled units, a great location in the Alamitos Beach neighborhood, and 16 percent rental upside, this offering is a great investment opportunity. The subject property consists of two two-story buildings with a mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. The buildings share a beautifully landscaped courtyard with picnic tables for tenants’ enjoyment and also feature controlled access and shared laundry.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower