1212 E 3rd, Long Beach, California 90802, Long Beach, 90802 - 0 bed, 0 bath
Loading property details...
Long Beach, California 90802
Analysis of 1212 E 3rd, Long Beach, California 90802 is currently available with a list price of $10,595,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
The property is in move-in ready condition with significant recent updates, including 3 brand-new ADUs and 17 remodeled units. Interior photos show modern luxury vinyl plank flooring and fresh paint, while the exterior and courtyard feature high-quality, updated landscaping and well-maintained common areas, offsetting the 1957 build year.
The property offers a significant 11% rental upside and includes three brand-new ADUs, providing immediate opportunities for increased cash flow and equity growth.
With 17 units already remodeled and a professionally landscaped courtyard, the asset reduces immediate capital expenditure needs while commanding premium market rents.
Situated in the high-demand Alamitos Beach neighborhood, the property benefits from strong tenant desirability and close proximity to downtown Long Beach amenities.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =16529, other record lot size in square feet = 8263. Living area discrepancy between mls listing and other public or private record. mls listing living area = 19248, other record living area = 8988.
Built in 1957, the property may require higher long-term maintenance budgets for plumbing, electrical, and structural systems compared to newer developments.
The high density of studio units (50% of the total inventory) may lead to higher tenant turnover rates compared to buildings with a larger ratio of multi-bedroom units.
1212 and 1216 East 3rd Street is a 36-unit apartment community on two contiguous parcels in Long Beach, California. With three brand new ADU’s, 17 remodeled units, a great location in the Alamitos Beach neighborhood, and 11 percent rental upside, this offering is a great investment opportunity. The subject property consists of two two-story buildings with a mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. The buildings share a beautifully landscaped courtyard with picnic tables for tenants’ enjoyment and also feature controlled access and shared laundry.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
Grades 6-8 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 19,248 | 7,595.5 | 75% |
| Lot Size | 16,529 | 9,380 | 75% |
| Price | $10.60M | $2.18M | 75% |
| Price per sq ft | $550 | $426 | 50% |
| Built year | 1957 | 1923 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 124 | 25% |
Mar 23, 2026
$10,595,000
Initial Listing
Oct 18, 2021
$3,495,000
Public Record