617 W 3rd St Long Beach, CA 90802
West Village NeighborhoodEstimated payment $11,719/month
Highlights
- 0.17 Acre Lot
- Floor Furnace
- 4-minute walk to Cesar E Chavez Park
- Neighborhood Views
- 2 Car Garage
About This Home
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 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, the 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 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 presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of 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 also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.
Listing Agent
Century 21 Masters Brokerage Phone: 562-316-2915 License #01399946 Listed on: 03/27/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1921
Lot Details
- 7,508 Sq Ft Lot
- No Common Walls
Parking
- 2 Car Garage
- 2 Open Parking Spaces
- Parking Available
Home Design
- Entry on the 1st floor
Interior Spaces
- 7,190 Sq Ft Home
- 2-Story Property
- Neighborhood Views
Bedrooms and Bathrooms
- 9 Bedrooms
- 9 Bathrooms
Utilities
- Floor Furnace
- Phone Connected
- Cable TV Available
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Legal Lot and Block 23 / 137
- Tax Tract Number 575901
- Assessor Parcel Number 7278022021
- Seller Considering Concessions
Community Details
Overview
- 2 Buildings
- 9 Units
- Downtown Subdivision
Building Details
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 9 Separate Water Meters
- Gardener Expense $1,020
- Insurance Expense $9,600
- Maintenance Expense $3,600
- Pest Control $564
- Professional Management Expense $7,388
- Trash Expense $3,500
- Water Sewer Expense $5,500
- New Taxes Expense $21,360
- Operating Expense $52,532
- Gross Income $167,208
- Net Operating Income $114,376
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/05/2026 05/05/26 | Pending | -- | -- | -- |
| 04/24/2026 04/24/26 | Price Changed | $1,849,000 | -2.6% | $257 / Sq Ft |
| 03/27/2026 03/27/26 | For Sale | $1,899,000 | -- | $264 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26065075
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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