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12,150 sqft

$4,400,000

445 E 3rd, Long Beach CA, 90802

Price per sqft$362.14
Built in1922
Property size12,150 sqft
Property typeMulti-family
Listed by Robert Stepp CA DRE# 01456379 with Keller Williams Realty Downey 310-463-2916

Overview

Active

Listed Aug 6, 2026

Updated Aug 7

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.

$29,273/mo

Est. mortgage payment based on a $4,400,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
PW26170001

Interior Features

Basement
No

Exterior Features

Lot Size
0.11 Acres

Other Property Details

Maintenance Expense
$13,200
55+/Senior Community
No
MLS provider logo

Listed by Robert Stepp CA DRE# 01456379 with Keller Williams Realty Downey 310-463-2916

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/7/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2026 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 8/7/2026 at 3:33 AM UTC Last Checked: 3:33 AM UTC

 

 

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