Homes for sale - 515 W 3rd ST, Long Beach, CA 90802

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Mike Marcu • Mike Marcu, Broker

$5,950,000

Est. payment - /mo

6,093 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC25093913

Originating Board California Regional MLS

Year Built 1928

Lot Size 6,093 Sqft

Property Description

La Pasada is a 29-unit apartment community located at 515 West 3rd Street in Long Beach. This prime location is directly across the street from the Governor George Deukmejian Courthouse, and a public transportation bus stop is conveniently situated in front of the building. Originally a hotel, the property has been operating as an apartment building for over 20 years but retains the benefit of a grandfathered hotel zoning should an investor wise to operate it with short term rentals. The seller is offering a 70% first note and trust deed with a 5% interest rate, featuring interest-only payments for the duration of the loan. The property boasts new sewer lines, plumbing (both on the first and second floors), an updated electrical system, roof, and windows. The entire first floor has been rebuilt from the studs out, and all units are equipped with central HVAC. The second floor has undergone a complete bathroom remodel, and the interiors have been upgraded throughout. Additionally, the third floor features two common area bathrooms and 11 single room occupancy units, all of which are in good condition

Location

State CA

County Los Angeles

Area 11 - Westside

Interior

Laundry Community Facility

Exterior

Parking Features No Parking

Garage Spaces 1.0

Pool None

Building

Water District - Public

Others

Tax ID 7278022040

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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515 W 3rd ST Long Beach, CA 90802

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

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