Skip to main content

Multifamily

1527-1537 E 3rd St

1527-1537 E 3rd St, Long Beach, CA 90802

Listing Price: $2,995,000

Cap Rate
3.64%
Number of Units
6
Occupancy
100.0%
Price/Unit
$499,167
Price/Gross SF
$470.76
Gross SF
6,362

Investment Overview

Marcus & Millichap is pleased to present a 6-unit multifamily property. Built in 1926, the subject property consists of 8,362 6,364 rentable square-feet spread throughout a 8,362 square-foot lot. The building consists of six 2-bedroom / 1-bathroom units. It contains six garages providing ample on-site parking behind a long-shared driveway. Tenants enjoy living in the Alamitos Beach Neighborhood East of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.

Investment Highlights

  • True Pride-of-Ownership Legacy Asset: Built in 1926
  • Two Separately Parceled Triplexes, Providing Flexible Entry and Exit Strategies
  • Six Spacious Two-Bedroom Units: Average Unit Size Over 1,000 Square-Feet
  • Amenities That All Tenants Value: Synergized Outdoor Space, Washers & Dryers in Each Unit and Private Parking
  • Three Blocks from the Beach & Bixby Park: The Cultural Hub of Alamitos Beach
  • 91 Walk Score – "Walker's Paradise" & 91 Bike Score – "Biker's Paradise"
  • Ability to Add Two Additional ADU Units to Increase Value for a New Investor

Exclusively Listed By

Multifamily

1527-1537 E 3rd St

Listing Price: $2,995,000

Cap Rate
3.64%
Number of Units
6
Occupancy
100.0%
Price/Unit
$499,167
Price/Gross SF
$470.76
Gross SF
6,362

Investment Highlights

  • True Pride-of-Ownership Legacy Asset: Built in 1926
  • Two Separately Parceled Triplexes, Providing Flexible Entry and Exit Strategies
  • Six Spacious Two-Bedroom Units: Average Unit Size Over 1,000 Square-Feet
  • Amenities That All Tenants Value: Synergized Outdoor Space, Washers & Dryers in Each Unit and Private Parking
  • Three Blocks from the Beach & Bixby Park: The Cultural Hub of Alamitos Beach
  • 91 Walk Score – "Walker's Paradise" & 91 Bike Score – "Biker's Paradise"
  • Ability to Add Two Additional ADU Units to Increase Value for a New Investor

Investment Overview

Marcus & Millichap is pleased to present a 6-unit multifamily property. Built in 1926, the subject property consists of 8,362 6,364 rentable square-feet spread throughout a 8,362 square-foot lot. The building consists of six 2-bedroom / 1-bathroom units. It contains six garages providing ample on-site parking behind a long-shared driveway. Tenants enjoy living in the Alamitos Beach Neighborhood East of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower