29-Unit Apartment Building with
515 W 3rd Long Beach, CA 90802
For Sale
Contact for pricing
La Pasada is a 29-unit apartment building with central HVAC, renovated interiors, and an on-site laundry facility.
Days on Market53
Property Features for 515 W 3rd
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing Agency:
The Mogharebi Group Orange County
(562) 260-0940
Listed By:
Mike Marcu · License #CA 00919594
Source:
Crexi
Added: Jun 3
Changed: Jul 22
Last Checked: Jul 25 at 10:29AM
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 The Mogharebi Group Orange County
Investment Insights
Based on property information with market context.
La Pasada is a 29-unit apartment building consisting of 11 SRO units, 14 studios, and 4 one-bedroom apartments. Originally constructed as a hotel, the property has operated as apartments for more than two decades while retaining its grandfathered hotel zoning, providing flexibility to continue operating as apartments or explore future short-term lodging opportunities. Substantial capital improvements include renovated unit interiors, central HVAC throughout all 29 units, a remodeled second-floor community bathroom, updated building systems, and an on-site laundry facility. Additional upgrades include a newer roof, upgraded electrical infrastructure, replacement windows, and sewer line improvements.
Situated at 515 W. 3rd Street in Downtown Long Beach, the property is within walking distance of the waterfront and nearby destinations including the Aquarium of the Pacific, Long Beach Convention Center, Shoreline Village, and Cesar E. Chavez Park. Access is also convenient to the 710 Freeway, Pacific Coast Highway, and public transportation, with ongoing redevelopment activity in the surrounding downtown area.
Seller financing is available, offering 75% LTV at 4% interest with interest-only payments for up to five years.
Situated at 515 W. 3rd Street in Downtown Long Beach, the property is within walking distance of the waterfront and nearby destinations including the Aquarium of the Pacific, Long Beach Convention Center, Shoreline Village, and Cesar E. Chavez Park. Access is also convenient to the 710 Freeway, Pacific Coast Highway, and public transportation, with ongoing redevelopment activity in the surrounding downtown area.
Seller financing is available, offering 75% LTV at 4% interest with interest-only payments for up to five years.
Key Highlights
- 29‑unit apartment building at 515 W. 3rd Street in Downtown Long Beach
- Unit mix: 11 SRO units, 14 studios, and 4 one‑bedroom apartments
- Central HVAC throughout all 29 units and renovated unit interiors
Property Analytics
Location Intelligence
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FAQs
What type of property is this?
Apartment building - La Pasada is a 29-unit apartment building with central HVAC, renovated interiors, and an on-site laundry facility.
Where is this apartment building located?
The property is located at 515 W 3rd Long Beach, CA.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 29‑unit apartment building at 515 W. 3rd Street in Downtown Long Beach; Unit mix: 11 SRO units, 14 studios, and 4 one‑bedroom apartments; Central HVAC throughout all 29 units and renovated unit interiors
