Long Beach, CA 90802 545 W 3rd Street
$1,950,000
19 more
Presented By: Christa Vessell with Coldwell Banker Commercial; 909-771-8779
Beds • 12
Full/Half Baths • 2 / 1
SQFT • 5,449
Year Built • 1911
Home Details
Exciting Investment Opportunity in Downtown Long Beach – Prime PD-30 Zoning!
Welcome to 545 W 3rd St, a rare and versatile multi-family property offering tremendous potential for redevelopment in one of Long Beach’s most desirable areas. Situated on a prime lot with coveted PD-30 zoning, this property may offer the potential for up to 40 units (buyer to verify with the city).
The current configuration includes four spacious 3-bedroom, 2-bath units, providing solid rental income while you explore development options. Each unit is well-sized, offering comfortable layouts and potential for renovations or upgrades.
Location is everything, and this property is just steps away from the Gov. George Deukmejian Courthouse, shops, restaurants, and public transit. Whether you're walking to local coffee shops, dining out, or commuting, convenience is at your tenant's doorstep.
Don’t miss this incredible opportunity to own a property with strong income potential and significant upside in one of Southern California’s fastest-growing markets.
Presented By: Christa Vessell with Coldwell Banker Commercial; 909-771-8779
Interior Features for 545 W 3rd Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesLaundryCloset
Total Stories2
Other Rooms
Entry Level1
General for 545 W 3rd Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLong Beach
Community FeaturesBiking, Curbs, DogPark, Park, StormDrains, StreetLights, Sidewalks
CountyLos Angeles
DirectionsWest on 3rd st towards the 710
Electric Expense0.0
Electric On Property Y/NNo
Entry Location3rd st
Expected Active Date 2025-02-21
Fuel Expense480.0
Garage Spaces0.0
Garage Y/NNo
Gross Income126000.0
HOANo
Home Warranty Y/NNo
Insurance Expense3000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet7502.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense1200.0
MobileHomeRemainsYNNo
Net Operating Income95895.0
New ConstructionNo
Number Of Units Total4
Operating Expense30105.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Subdivision NameAlamitos Beach (AB)
Tax Lot20
Trash Expense0.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1911
Year Built SourcePublicRecords
ZoningLBPD30
Exterior for 545 W 3rd Street
Building Area Total5449.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1722
Lot Size Area7502.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$1,950,000
MLS#PW25033854
List Date
02/14/2025
Property Type
Multi-Family
Phone
(562) 537-4182
