Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1135 3Rd St Long Beach, CA 90802

    Sponsored
    For Sale
    $2,250,000

    11-unit apartment building, prime location.

    Property size:
    6,715 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents an 11-unit apartment building located at 1135 East 3rd Street, Long Beach, California, 90802. The property, built in 1923, consists of two buildings with two stories, encompassing a total of 6,715 square feet. The complex includes ten studio apartments, two of which are oversized, and a detached three-bedroom, two-bathroom house with its own garage. The property features gated access and on-site laundry facilities. Currently operating as a value-add opportunity, the property offers significant upside potential through unit renovations and rent increases. The asking price is $2,250,000, representing a price per square foot of $335.07 and a price per unit of $204,545.45. The current Net Operating Income (NOI) is $83,668, yielding a 3.72% cap rate. However, a pro-forma NOI of $167,359 projects a 7.44% cap rate, reflecting the substantial rental upside potential. The property is situated in a highly desirable Long Beach neighborhood, a short walk from Alamitos Beach and minutes from Downtown Long Beach and the Pike Outlets. The property is offered fee simple and includes one parking space. The Los Angeles County Assessor's Parcel Number (APN) is 7275-005-018. This is a rare opportunity to acquire a well-located multifamily property with considerable potential for increased profitability.

    Property Features for 1135 3Rd St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,715 SF
    Class
    C

    Building Details

    Year Built
    1923
    Buildings
    2
    Stories
    2
    Units
    11

    HighLights

    • Prime location, minutes from Alamitos Beach, Downtown Long Beach, and Pike Outlets.
    • Mostly single‑story units plus a detached 3‑bedroom house.
    • Gated community with on‑site laundry.
    • Significant rental upside potential (projected ±60%).
    • Offered by a motivated seller with long‑term ownership history.
    • Part of a four‑property portfolio; available for individual or portfolio purchase.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.17746347759
    Latitude
    33.770259020674

    Nearby Similar for Sale

    • $2,500,000
      7,093 SF

      Long Beach 9-Unit Apartment Building

      Well-maintained 9-unit income property in Long Beach, California.
      1083 Gaviota Ave, Long Beach, CA 90813
      View Details
    • $3,999,000
      5,218 SF

      Renovated Quadplex Near Belmont Shore

      Extensively renovated quadplex near the beach and Belmont Shore.
      3626 E 1St St, Long Beach, CA 90803
      View Details
    • $1,550,000
      2,378 SF

      California Heights Duplex: Designer Sophistication

      Timeless California bungalows blending period architecture with refined, modern design.
      3580 Gundry Ave, Long Beach, CA 90807
      View Details
    • $2,700,000
      9,200 SF

      Long Beach Commercial Investment Property

      Commercial property with retail spaces and potential for additional development.
      208 W Anaheim St, Long Beach, CA 90813
      View Details
    • $7,440,000
      56,690 SF

      Long Beach Multifamily Investment Opportunity

      Well-maintained 28-unit multifamily property near freeways and downtown Bixby.
      3430 Elm Ave, Long Beach, CA 90807
      View Details
    • $2,045,000
      4,600 SF

      Remodeled Long Beach Townhouse-Style Quadplex

      Fully remodeled 4-unit townhouse-style property in Long Beach, CA.
      1144 Stanley Ave, Long Beach, CA 90804
      View Details
    • $1,185,000
      1,536 SF

      Restored Craftsman Duplex in Long Beach

      Meticulously restored Craftsman duplex with modern amenities and investment potential.
      4027 E 11Th St, Long Beach, CA 90804
      View Details
    • $999,000
      1,490 SF

      Charming Duplex in Long Beach

      Duplex with modern upgrades, private patios, and garage.
      2701 E 17Th St E, Long Beach, CA 90804
      View Details
    • $1,250,000
      3,164 SF

      East Long Beach Commercial Property

      Commercial property in East Long Beach with high accessibility.
      3535 E 7Th St, Long Beach, CA 90804
      View Details
    • $899,999
      3,134 SF

      Versatile Mixed-Use Commercial Property

      Mixed-use commercial property with flexible space in Long Beach.
      5239 Atlantic Ave, Long Beach, CA 90805
      View Details
    • New
      $775,000
      1,175 SF

      Craftsman Duplex in East Arts

      Updated Craftsman duplex in Long Beach's East Arts Village.
      521 Olive Ave, Long Beach, CA 90802
      View Details
    • $850,000
      1,360 SF

      Charming Duplex in North Long Beach

      Renovated duplex with bonus room and growth opportunity.
      1430 E Michelson St, Long Beach, CA 90805
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 11-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 1135 3Rd St Long Beach, CA.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Prime location, minutes from Alamitos Beach, Downtown Long Beach, and Pike Outlets.; Mostly single-story units plus a detached 3-bedroom house.; Gated community with on-site laundry.
    Request Owner's contact information
    1135 3Rd St Long Beach, CA 90802
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1135 3Rd St
    Long Beach, CA 90802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1135 3Rd St Long Beach, CA 90802
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.