1135 E 3rd St - Apartments FOR SALE


Long Beach, CA 90802
$2,250,000 USD
949-584-0503
1135 E 3rd St, Long Beach, CA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/16
null | 3.72% Cap Rate

1135 E 3rd St
Long Beach, CA 90802


HIGHLIGHTS

  • In-Demand Location, Minutes from Alamitos Beach, Downtown, and The Pike Outlets
  • Majority Single Story Units + Detached 3-Bedroom House
  • Gated Access and On-Site Laundry
  • Added Value Opportunity – Projected ±60% in Rental Upside
  • Long Term Ownership – Motivated Seller
  • Part of a (4) Property Portfolio – Can Be Purchase Separately or Together

OVERVIEW

Morgan Skenderian is pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential by updating the units and bringing rents closer to market levels.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$335 USD /SF

# OF UNITS

11

PRICE/UNIT

$204,545

CAP RATE

3.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,459 SF

ZONING

R3, Long Beach

APN/PARCEL ID

7275-005-018

ASK ABOUT THIS PROPERTY

Damien BreauxMorgan-Skenderian Investment Real Estate GroupMore Info
949-584-0503

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Damien BreauxMorgan-Skenderian Investment Real Estate GroupMore Info
949-584-0503

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.