555 E 3rd, Long Beach, California 90802, Long Beach, 90802 - 0 bed, 0 bath
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Long Beach, California 90802
This Renovated Live-Work Duplex is a Strong Value Opportunity, listed at $975,000—positioned well below the $1,060,663 Fair Market Value by 8%. This valuation gap delivers $85,663 in Instant Equity for the incoming buyer. Featuring a Like-New Condition Rating, the interior showcases a modern industrial aesthetic with high ceilings and two renovated suites equipped with private kitchenettes. Situated in Downtown Long Beach near Stevenson Elementary, the property offers high visibility and versatile use cases. This move-in-ready asset is perfect for Owner-Occupants seeking SBA-eligible income or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 555 E 3rd Subject | $975,000* List Price | 0 | 0 | 1,926 | $551 | - |
A 440 N Zona Court Sold | $945,000 | 0 | 0 | 1,846 | $512 | 0.3 mi |
B 1728 E Florida Street Sold | $1,049,000 | 0 | 0 | 1,728 | $607 | 0.9 mi |
C 416 Lime Active Under Contract | $995,000 List Price | 0 | 0 | 2,204 | $451 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1957, the property has undergone an extensive recent renovation to create a modern industrial live-work space. The interior features new wide-plank flooring, updated kitchenettes with stainless steel Whirlpool appliances and butcher block countertops, contemporary bathrooms with barn doors, and updated electrical and HVAC systems. The finishes and fixtures meet current quality standards with no visible deferred maintenance.
The property features two fully renovated suites each equipped with private kitchenettes and showers, offering exceptional flexibility for owner-users to live, work, or generate rental income simultaneously.
Situated on a prominent corner across from City Center, the property benefits from high foot traffic and visibility, making it an ideal location for professional or boutique office users.
With high ceilings and contemporary finishes, this move-in-ready asset provides a sophisticated creative environment that requires no immediate capital for renovations.
The property relies on nearby parking options rather than dedicated on-site spaces, which may be a significant drawback for clients or residents in a high-density downtown area.
While zoned for flexibility, the specific commercial-to-residential conversion or mixed-use configuration requires buyer verification with the city, adding a layer of regulatory uncertainty.
555 E. 3rd St – Creative Office / Live-Work Opportunity in Downtown Long Beach Exceptional opportunity to own a fully renovated creative office property in the heart of Downtown Long Beach. The building is currently configured as two separate office suites, offering flexibility for an owner-user to occupy one space while leasing the other for additional income. Each suite is thoughtfully designed and includes its own bathroom with shower and kitchenette, making the spaces highly functional for both office and potential live-work use. The property features high ceilings, an industrial aesthetic, and modern finishes, creating an ideal environment for creative, professional, or boutique office users. The layout allows for multiple use scenarios, making it highly adaptable to a variety of business needs. This property is especially attractive for owner-user buyers utilizing SBA financing, which may allow for low down payment options. A buyer can occupy one suite while leasing the second space to help offset ownership costs. Buyer to verify financing terms with their lender. Located at the prominent corner of 3rd Street and Atlantic Avenue, directly across from City Center, the property benefits from strong visibility, nearby parking options, and immediate access to restaurants, retail, and downtown amenities. Zoned LBPD-30 (Downtown Planned Development District), the property offers additional flexibility as the city may allow for a commercial/residential mixed-use or live-work configuration. Buyer to verify with the City of Long Beach regarding permitted uses and any potential conversion. This is a rare opportunity to acquire a versatile, move-in ready asset in one of Long Beach’s most dynamic and walkable locations.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 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 | 1,926 | 2,765 | 33% |
| Lot Size | 3,894 | 4,450 | 47% |
| Price | $975.0K | $1.10M | 27% |
| Price per sq ft | $506 | $487 | 53% |
| Built year | 1957 | 1923 | 87% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 194 | 7% |
Apr 16, 2026
$975,000
Initial Listing
Dec 21, 2021
$1,153,000
Public Record
Apr 26, 2021
$699,500
Public Record