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3rd St Apartments 617 W 3rd St 9 Unit Apartment Building $2,529,432 CAD ($281,048 CAD/Unit) 6.55% Cap Rate Long Beach, CA 90802
Investment Highlights
- Central downtown location
- Utility upgrades
- Great walkability and transit access
Executive Summary
Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s
most dynamic coastal markets, 617 W 3rd Street Long Beach offers a compelling investment opportunity in the rapidly evolving Downtown
Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, this property benefits from
strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing
redevelopment, proximity to the ports, and its accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access.The property itself presents a rare opportunity for investors to
capture both immediate income and future upside. 9 units comprising of 2 4-unit apartment style buildings and 1 Craftsman Single Family
with a 2 car garage in between. Several of the units have recent upgrades, recent utility upgrades have been completed as well, fully
rented with a number of long term tenants.
most dynamic coastal markets, 617 W 3rd Street Long Beach offers a compelling investment opportunity in the rapidly evolving Downtown
Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, this property benefits from
strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing
redevelopment, proximity to the ports, and its accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access.The property itself presents a rare opportunity for investors to
capture both immediate income and future upside. 9 units comprising of 2 4-unit apartment style buildings and 1 Craftsman Single Family
with a 2 car garage in between. Several of the units have recent upgrades, recent utility upgrades have been completed as well, fully
rented with a number of long term tenants.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$237,425
|
$33.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$237,425
|
$33.02
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$71,864
|
$9.99
|
| Net Operating Income |
$165,561
|
$23.03
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $237,425 |
| Annual Per SF | $33.02 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $237,425 |
| Annual Per SF | $33.02 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $71,864 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $165,561 |
| Annual Per SF | $23.03 |
Property Facts
| Price | $2,529,432 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $281,048 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.55% | Building Size | 7,190 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.22 | No. Stories | 2 |
| No. Units | 9 | Year Built/Renovated | 1921/2005 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LBPD10 - LBPD10 (Planned Development District10- Downtown Plan) | ||
| Price | $2,529,432 CAD |
| Price Per Unit | $281,048 CAD |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.22 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,190 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2005 |
| Opportunity Zone |
Yes |
| Zoning | LBPD10 - LBPD10 (Planned Development District10- Downtown Plan) |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7278-022-021 | Improvements Assessment | $94,199 CAD |
| Land Assessment | $70,382 CAD | Total Assessment | $164,581 CAD |
Property Taxes
Parcel Number
7278-022-021
Land Assessment
$70,382 CAD
Improvements Assessment
$94,199 CAD
Total Assessment
$164,581 CAD
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3rd St Apartments | 617 W 3rd St
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