445 E 3rd, Long Beach, CA — listing photo 1
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FOR SALENew Listing

445 E 3rd

Long Beach, CA 90802
5,005 Lot Sq Ft
Built 1922
$4,400,000

Property Overview

445 E. 3rd Street is a 22-unit multifamily asset located in Long Beach’s East Village Arts District, a dense, walkable submarket within Downtown that continues to attract a steady base of renters driven by proximity to employment, transit, and lifestyle amenities. The property consists of (14) studio units and (8) 1BD/1BA, providing an efficient unit mix aligned with prevailing demand in the area. The seller has invested approximately $530,000 in capital improvements, including interior common areas (hallways, stairwells, keypads), unit interior renovations, new turf and landscaping on exteriors. All unit interiors are completely renovated with designer fixtures and finishes. Approximately $18,200 has been invested per studio unit renovation and ~$19,200 invested per 1BD/1BA renovation. 445 E. 3rd Street is priced at a 5.84% cap rate and 10.10 GRM in place, with clear embedded upside. As rents move to market and RUBS is implemented, the property stabilizes at a 6.82% cap rate and 9.12 GRM—a 98-basis-point expansion in yield and nearly a full point of GRM compression. That equates to $41,075 of additional annual NOI, a 16% increase in cash flow at no change in basis.

Home Details

Property type
Residential Income - Mixed Use
Year built
1922
Lot size
5,005 sq ft
Stories
3
Days on market
0
MLS status
Active

Features & Amenities

Pool

  • None

Lot

  • Twenty One To Twenty Five Units Acre

Community, Schools & Utilities

Community

Subdivision
East Village Arts District

Utilities

Water
Public
Sewer
PublicSewer
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Location & Neighborhood

445 E 3rd

Long Beach, CA 90802

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Frequently Asked Questions About 445 E 3rd

Property type: Residential Income

The current asking price is $4,400,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 445 E 3rd. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1922. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.
The MLS currently reports the property as Active. It has been listed for 0 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Listing Agent

Name: Robert Stepp
MLS ID: PSTEPROB

Available property

$4,400,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.