Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1524 East 3rd Street, an 11-unit multifamily investment property in Long Beach, one of the premier housing markets in Southern California.
Specifically, 1524 East 3rd Street is located in the Alamitos Beach neighborhood, just a few blocks from the ocean, one mile to Downtown, and minutes to Belmont Shores. The 9,044 square foot property consists of studio, one-bedroom and two-bedroom floor plans. Originally a 4-unit building, built in 1926, with an additional 7 units added in 1984, 1524 East 3rd Street offers amenities including gated ground-level parking, garage parking, private balconies, and an on-site laundry facility.
Historically known for its status as the preeminent harbor city on the West Coast, Long Beach continues to gain notoriety as an exciting and vibrant waterfront destination. Long Beach’s world-class port, prestigious university, unique business market, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Long Beach, 1524 East 3rd Street offers an investor the ability to capture quality tenants seeking a great beach neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 1524 East 3rd Street.