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$8,700,000
Est. payment /mo
7,525 Sqft Lot
UPDATED:
01/01/2025 01:06 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW23051137
Originating Board California Regional MLS
Year Built 1929
Lot Size 7,525 Sqft
Property Description
527 W. 3rd Street is a 36-unit apartment asset in prime Downtown Long Beach. The property features a mix of four (4) 1BD / 1 BA, (27) studios, and five (5) micro studios. Many of the units have been renovated with designer fixtures and finishes, including new countertops, cabinetry, tile and flooring in the kitchens and bathrooms, stainless steel appliances and lighting. The secured access building offers a bright, spacious entryway, new carpet and paint in hallways, and on-site laundry facilities. With its prime West Gateway location, the property provides convenient access to the newly redesigned Lincoln Park, an integral part of the 22- acre, $520 million Civic Center redevelopment project. The Long Beach Civic Center Master Plan includes a 270,000-square-foot City Hall, 93,500-square-foot landmark Main Library, updated bike/bus/Metro Blue Line transit system, design guidelines for 800 residential units, and vibrant amenities across the revitalized Downtown area. 527 W. 3rd Street presents a new buyer with a beautifully renovated asset in a highly desirable Long Beach location at 12.89 GRM on actual rents.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Laundry Area
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 7278022039
Special Listing Condition Not Applicable
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Listed by Robert Stepp • Keller Williams - Santa Monica