7-Unit Apartment
3009 E 3rd, Long Beach, CA 90814
For Sale
New
$2,150,000
Three apartments have been renovated, with additional work to windows, electrical systems, landscaping, and laundry facilities.
Property Size4,148 SF
Lot Size0.10 Acres
Price / SF$518.32
Days on Market4
Property Features for 3009 E 3rd
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
enhanced landscaping
laundry facilities
Building Details
Building Size
Year Built
Units
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Larson Harley · License #02045736
(949) 933-1112
Source:
Elliman
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This seven-apartment property contains one-bedroom, one-bathroom units averaging approximately 593 square feet each. Building area totals 4,148 square feet on a 4,356-square-foot lot. Three units have been renovated, and improvements include dual-pane vinyl windows, upgraded electrical systems, refreshed laundry facilities, updated signage, and enhanced landscaping. Exterior painting was completed in 2026; the building dates to 1950.
At 3009 East 3rd Street in Long Beach, the property offers access to dining, retail, and entertainment on Retro Row and 2nd Street in Belmont Shore, along with local beaches, bike paths, and coastal recreation. Walk Score is 79, Bike Score is 57, and Transit Score is 55.
At 3009 East 3rd Street in Long Beach, the property offers access to dining, retail, and entertainment on Retro Row and 2nd Street in Belmont Shore, along with local beaches, bike paths, and coastal recreation. Walk Score is 79, Bike Score is 57, and Transit Score is 55.
Key Highlights
- Seven one‑bedroom, one‑bathroom apartments
- 4,148 square feet of building area on a 4,356‑square‑foot lot
- Units average approximately 593 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,324
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,586,480
$1.6M
Cap Rate 7%
$1,133,200
$1.1M
Cap Rate 9%
$881,378
$881.4K
Market Conditions
NOI Build-Up for 4,148 SF
Gross rent
$151.8K $36.60/SF
− Vacancy
−$7.6K −$1.83/SF
EGI
$144.2K $34.77/SF
− OpEx
−$64.9K −$15.65/SF
NOI
$79.3K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,586,480
Cap Rate 7%
$1,133,200
Cap Rate 9%
$881,378
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$991.6K – $1.32M
NOI $79,324 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,458 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,162
Businesses Nearby
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Business Placement
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
Properties on Market for Apartment buildings in Long Beach
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three apartments have been renovated, with additional work to windows, electrical systems, landscaping, and laundry facilities.
Where is this apartment building located?
The property is located at 3009 E 3rd Long Beach, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Seven one‑bedroom, one‑bathroom apartments; 4,148 square feet of building area on a 4,356‑square‑foot lot; Units average approximately 593 square feet
