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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.
Property Type(s):
Residential Income
| Last Updated | 3/27/2026 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1921 | Community | 4 - Downtown Area, Alamitos Beach |
| Garage Spaces | 2.0 | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | 4 - Downtown Area, Alamitos Beach |
| GARAGE | Yes |
| HEAT | Floor Furnace |
| LOT | 7510 sq ft |
| LOT DIMENSIONS | 7508 |
| PARKING | Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| UTILITIES | Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Water Available, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Neighborhood |
| WATER | Public |
Location
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Listed with Century 21 Masters
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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