3rd Street Apartments

Investment Overview

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 Long Beach 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, this 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 its 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 itself presents a rare opportunity for investors to capture both immediate income and future upside. 9 units comprising of two 4-unit apartment style buildings and 1 Craftsman Single Family with a 2 car garage in between. Several of the units have recent upgrades, recent utility upgrades have been completed as well, fully rented with a number of long term tenants. Whether through strategic renovations, rent optimization. Additionally, the property’s location within close proximity to public transportation, major freeways, and ongoing city improvements positions it well for continued appreciation. With Long Beach’s pro-housing initiatives and focus on density, assets in this submarket are increasingly attractive for both private and institutional investors. Recent Ownership Improvements * Electrical system upgraded to meet current insurance compliance standards. * Completed insurance-required safety improvements, including installation of new stair railings and basement handrails. * Installed new chain-link fencing, improving security and the property's exterior presentation. * Cleared and cleaned basement areas, removing accumulated debris and improving overall condition and accessibility. * Implemented strategic rent increases, strengthening the property's income while maintaining full occupancy. * Professionally managed the property to preserve 100% occupancy and enhance operational performance.

Investment Highlights

• Downtown Location
• Great walkability and transit access
• 9- units
• Utility upgrades
• 100% occupancy