Multifamily
Third Street
3024 E 3rd St, Long Beach, CA 90814
Listing Price: $4,500,000
Investment Overview
Marcus & Millichap is pleased to present to market 3024 East 3rd Street, a remodeled 15-unit apartment building in Long Beach, California’s desirable Bluff Heights neighborhood. The property boasts three new ADU’s and a unit mix of three studios, 11 one-bed/one-baths, and one two-bed/one-bath. The building also offers on-site laundry.
3024 East 3rd Street is in an excellent rental location in the Bluff Heights neighborhood, known for its historic homes and tree-lined streets, one block to an elementary school, within easy walking distance of popular restaurants along Broadway, and a half-mile to Bluff Park and the beach.
This offering is an outstanding investment opportunity for any investor looking for an asset in great condition in a strong coastal rental market, and 14 percent rental upside offers growth potential.
Third Street
Investment Highlights
- Excellent opportunity to acquire a turnkey building at a 5.56% current cap rate
- Located in the desirable Bluff Heights neighborhood walkable to dining, retail, and the beach
- Three brand new ADU's boost the unit count to take advantage of the area's high rental demand and generate significant additional income
- 14% rental upside
Exclusively Listed By
Listing Price: $4,500,000
Investment Highlights
- Excellent opportunity to acquire a turnkey building at a 5.56% current cap rate
- Located in the desirable Bluff Heights neighborhood walkable to dining, retail, and the beach
- Three brand new ADU's boost the unit count to take advantage of the area's high rental demand and generate significant additional income
- 14% rental upside
Investment Overview
Marcus & Millichap is pleased to present to market 3024 East 3rd Street, a remodeled 15-unit apartment building in Long Beach, California’s desirable Bluff Heights neighborhood. The property boasts three new ADU’s and a unit mix of three studios, 11 one-bed/one-baths, and one two-bed/one-bath. The building also offers on-site laundry. 3024 East 3rd Street is in an excellent rental location in the Bluff Heights neighborhood, known for its historic homes and tree-lined streets, one block to an elementary school, within easy walking distance of popular restaurants along Broadway, and a half-mile to Bluff Park and the beach. This offering is an outstanding investment opportunity for any investor looking for an asset in great condition in a strong coastal rental market, and 14 percent rental upside offers growth potential.
Exclusively Listed By
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