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Compass

5612 E. 2nd St. Naples Island

Long Beach, CA 90803

Leslie Stonick | DRE#: 01363678

Stonick Group

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"TURN KEY with 7 unique units!"
Kara Mirarchi

421 W 3rd St (Multi-Unit) Residential Income Property

$2,575,000 | 421 West 3rd Street, Long Beach, CA 90802
MLS #PW19104685

The perfect downtown Long Beach investment property. This charming craftsman is totally TURN KEY with 7 unique units located in the heart of a fast growing city and only 3 blocks to the beach. This property also falls within the PD-30 Plan for downtown and located in the height incentive area for future investors to build up!


Each unit is metered separately for gas and electric, has its own tankless water heater AND has private laundry inside each unit. WOW! There are 4 large one bedroom one bath with a lovely balance of upgrades yet keeping the charm alive with exposed beams, hardwood floors and built-ins. Each unit also has their own outdoor balcony space. The 5th one bedroom one bath is a totally remodeled, very popular Air B & B that brings more income to this investment property.


Upstairs is a gorgeous 3 bedroom 2 bath with gas fireplace and comes with 2 parking spaces. The last unit is an adorable studio apartment. There are 5 parking spaces on site and one separate garage space on the property. This property is at 100% capacity and tenants that do not park on site, have assigned parking directly across the street at the Gallery. A modern courtyard separates the two structures complete with lounge seating and eating area.


This property has 3 security gates that allows for private entry. This investment property has it all and you can't beat this prime location. Close to THE PIKE, shoreline drive, the promenade and freeways. Great opportunity for a 10-31 exchange!!

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Status

1910

Year Built

Property Highlight

"A prime location for anyone who enjoys the city life. "

- Stonick Group