Multifamily
535 W 3rd St
535 W 3rd St, Long Beach, CA 90802
Listing Price: $4,050,000
Investment Overview
Marcus & Millichap is pleased to present to market 535 West 3rd Street, a 16-unit apartment building in Long Beach, California. This property located right in the hustle and bustle of flourishing Downtown Long Beach across from the Governor George Deukmejian Courthouse and conveniently near dining, retail, and entertainment (WalkScore: 91). The building is a 1964 construction with a desirable mix of 13 two-bed/two-bath units and three one-bed/one-bath units, garage and tandem driveway parking, balconies, and on-site laundry.
Current rents offer a new investor 15 percent rental upside, and there may be potential to develop four ADU’s (buyer to verify).
This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. For portfolio details, please see page 13 and contact the listing agent. Properties available separately or together.
535 W 3rd St
Investment Highlights
- 16-UNIT BUILDING WITH A DESIRABLE UNIT MIX: 13 Two-bed/two-bath and three one-bed/one-bath units
- 5.47% CAP RATE ON CURRENT RENTS: Strong in-place cash flow with 15 percent rental upside
- STRONG RENTAL LOCATION IN DOWNTOWN LONG BEACH | WalkScore: 91
- ADU POTENTIAL: A new investor may explore the potential to develop four ADU's (buyer to verify)
- OFFERED AS PART OF A FIVE-BUILDING PORTFOLIO: Properties range from eight to 52 units in Long Beach and are available separately or together.
Exclusively Listed By
Listing Price: $4,050,000
Investment Highlights
- 16-UNIT BUILDING WITH A DESIRABLE UNIT MIX: 13 Two-bed/two-bath and three one-bed/one-bath units
- 5.47% CAP RATE ON CURRENT RENTS: Strong in-place cash flow with 15 percent rental upside
- STRONG RENTAL LOCATION IN DOWNTOWN LONG BEACH | WalkScore: 91
- ADU POTENTIAL: A new investor may explore the potential to develop four ADU's (buyer to verify)
- OFFERED AS PART OF A FIVE-BUILDING PORTFOLIO: Properties range from eight to 52 units in Long Beach and are available separately or together.
Investment Overview
Marcus & Millichap is pleased to present to market 535 West 3rd Street, a 16-unit apartment building in Long Beach, California. This property located right in the hustle and bustle of flourishing Downtown Long Beach across from the Governor George Deukmejian Courthouse and conveniently near dining, retail, and entertainment (WalkScore: 91). The building is a 1964 construction with a desirable mix of 13 two-bed/two-bath units and three one-bed/one-bath units, garage and tandem driveway parking, balconies, and on-site laundry. Current rents offer a new investor 15 percent rental upside, and there may be potential to develop four ADU’s (buyer to verify). This asset is offered as part of a portfolio of Long Beach apartment buildings that range from eight to 52 units. For portfolio details, please see page 13 and contact the listing agent. Properties available separately or together.
Exclusively Listed By
