Long Beach 9-Unit Investment
For Sale
$1,699,999
617 West 3rd St, Long Beach, CA 90802
9-unit property in vibrant Long Beach, CA. Fully rented.
Days on Market101
Property Features for 617 West 3rd St
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1921
Listing Agency:
(562) 316-2915
Listed By:
James Kelsey · License #01399946
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 2 at 7:05AM
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 James Kelsey
Investment Insights
Based on property information with market context.
This 9-unit property is located in Long Beach, CA, within the Downtown Long Beach corridor. The property is situated minutes from the waterfront, Pine Avenue, and major employment hubs. The location benefits from rental demand driven by lifestyle and location. Long Beach is experiencing sustained growth due to redevelopment, proximity to ports, and accessibility to Los Angeles and Orange County. The area attracts young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property includes two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have been completed. The property is fully rented with long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential. The bike score is 61, making it bikeable, the walk score is 53, indicating it is somewhat walkable, and the transit score is 66, indicating good transit.
Key Highlights
- Prime location in Downtown Long Beach, near the waterfront, Pine Avenue, and major employment hubs.
- 9‑unit property consisting of two apartment buildings and a single‑family residence with a detached garage.
- Fully rented property operating at approximately a 6.02% cap rate, providing stable income.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,987
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 - 9-unit property in vibrant Long Beach, CA. Fully rented.
Where is this apartment building located?
The property is located at 617 West 3rd St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: Prime location in Downtown Long Beach, near the waterfront, Pine Avenue, and major employment hubs.; 9‑unit property consisting of two apartment buildings and a single‑family residence with a detached garage.; Fully rented property operating at approximately a 6.02% cap rate, providing stable income.
