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1734 E 3rd St

Long Beach, CA 90802 View Map $4,400,000 Schedule a Tour
Sq.Ft. Lot8,271
Nancy Barfield

Nancy Barfield

(714) 271-0789
DRE No.: 01085438

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Status: Pending
Property Type:Apartment
MLS #:PW23048232
On Site:179 Days
Lot Size:8,271 Sq. Ft.
County:Los Angeles

Listing Agent/Office

Agent:Kevin King
Office:Marcus & Millichap
Broker Email:[email protected]
We are pleased to present a 20 unit apartment building located in the heart of Alamitos Beach at 1734 E. 3rd Street in Long Beach, California. This is a value-add opportunity in an irreplaceable location. The subject property is walking distance to both to the Pacific Ocean and to 4th Street Retro Row where there are restaurants, boutique shops, bars and entertainment venues. The property was built in 1942 and consists of 12,566 rentable square feet spread throughout an 8,271 square foot lot. Sixteen of the apartment units are studios and four of the units are one bedroom and one bathroom units. It is also separately metered for gas and electricity which helps keep expenses to a minimum. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.

The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space. The Long Beach port has been undergoing $4.4 billion in redevelopment that will create 14,000 new and permanent jobs in Southern California.

Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.

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Price Change History

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Community Information

Address:1734 E 3rd St, Long Beach, CA 90802
Area:4 - Downtown Area/ Alamitos Beach
County:Los Angeles
City:Long Beach
Subdivision:Alamitos Beach (Ab)
Zip Code:90802


Year Built:1942
Building Area: 12566.0
Number of Buildings: 1
Total Units: 20
Unit 1: 4 Units • 1 Bed • 1 Bath • Unfurnished • $1,673 actual rent • $5,940 total rent • $1,995 pro forma
Unit 2: 16 Units • 1 Bath • Unfurnished • $1,015 actual rent • $15,441 total rent • $1,595 pro forma

Features / Amenities

Common Walls: 2+ Common Walls

Property Features

Lot Size: 0.19 Acres / 8,271 Sq. Ft.
Lot Features: Item1620UnitsAcre
Sewer: Public Sewer
Water: Public
Directions:Take Junipero Ave South, turn right on E 3rd St, pass 2 streets, property on the left

Tax and Financial Info

Gross Income: $281,583
Gross Scheduled Income: $290,292
Net Operating Income: $163,865
Electric Expense: $1,849.20
Fuel Expense: $1,849.20
Gardener Expense: $1,000
Insurance Expense: $9,498
Maintenance Expense: $13,100
New Taxes Expense: $55,000
Trash Expense: $1,849.20
Terms: Cash



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1734 E 3rd St Long Beach,  CA 90802
1734 E 3rd St Long Beach, CA 90802
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Based on information from California Regional Multiple Listing Service, Inc. as of September 22, 2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.