Renovated 22-Unit Apartment
For Sale
$4,400,000
445 E 3rd, Long Beach, CA 90802
Long Beach, CA
Property SizeContact for details
Lot Size0.11 Acres
Days on Market27
Property Features for 445 E 3rd
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Laundry Room, Bathroom 1
Subdivision
Other (OTHR)
Lot features
21-25 Units/ Acre
Directions
Atlantic Ave
Standard status
Active
APN
7281010017
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1922
Floors in Building
3
Number of units
22
Listing Agency:
Keller Williams Realty Downey
(562) 334-1500
Listed By:
Robert Stepp · License #01456379
(310) 463-2916
Added: Aug 4
Changed: Aug 25
Last Checked: Aug 30 at 7:06AM
MLS# PW26170001
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 445 E. 3rd Street in Long Beach’s East Village Arts District, this 22-unit apartment property was built in 1922 and includes 14 studios and 8 one-bedroom, one-bath units. Each residence has been renovated with updated fixtures and finishes, while common-area improvements include refreshed hallways, stairwells, and keypad access. Exterior work added new turf and landscaping.
The property is served by public water and public sewer. Current in-place performance is reported at a 5.84% cap rate and 10.10 GRM. With rents adjusted to market and RUBS introduced, projected stabilized performance is a 6.82% cap rate and 9.12 GRM. The unit mix, renovation program, and location within the East Village Arts District define the asset’s operating profile.
The property is served by public water and public sewer. Current in-place performance is reported at a 5.84% cap rate and 10.10 GRM. With rents adjusted to market and RUBS introduced, projected stabilized performance is a 6.82% cap rate and 9.12 GRM. The unit mix, renovation program, and location within the East Village Arts District define the asset’s operating profile.
Key Highlights
- 22‑unit apartment property with 14 studios and 8 one‑bedroom, one‑bath units
- Approximately $530,000 invested in capital improvements
- All unit interiors renovated with designer fixtures and finishes
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
5,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Studio and one-bedroom residences feature updated interiors, refreshed common areas, and redesigned exterior landscaping.
Where is this apartment building located?
The property is located at 445 E 3rd Long Beach, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 22‑unit apartment property with 14 studios and 8 one‑bedroom, one‑bath units; Approximately $530,000 invested in capital improvements; All unit interiors renovated with designer fixtures and finishes
