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Jewel Box in Downtown 120 E 3rd St 2,500 SF Vacant Office Building Long Beach, CA 90802 $1,750,000 ($700/SF)
Investment Highlights
- Fully renovated 2018 — taken down to the studs with new mechanical, electrical, plumbing, and seismic upgrades.
- Two-story floor plan with eighteen demised offices, conference rooms, kitchenette, and two restrooms.
- PD-30 zoning, Legal/Conforming — permits creative office, retail, showroom, gallery, or boutique professional use.
- Distinctive 1914 character — exposed brick, original masonry, soaring storefront windows, sealed concrete floors.
- Walk Score 98 · Transit Score 86 — among the most walkable blocks in all of Downtown Long Beach.
- Owner-user or investment — original co-work deed restriction has expired, full use flexibility.
Executive Summary
Darvishian Real Estate Investment Services is pleased to present 120 East 3rd Street — a two-story brick-and-masonry office building in the heart of Downtown Long Beach. Originally constructed in 1914, the property was taken down to its studs and fully renovated in 2018 with new mechanical, electrical, plumbing, and seismic bracing.
The property currently operates as P3 Office Lofts, a co-work space featuring eighteen demised office stations across two floors, complete with conference rooms, a kitchenette, two restrooms, and a private call booth. Two- 5-ton dualzone HVAC system, exposed brick interiors, sealed concrete floors, skylights, and industrial track lighting give the space a distinctive creative-loft character.
With the original co-work deed restriction having expired, the next owner has full flexibility — continue an existing operation, occupy as a single-tenant creative office HQ, or reposition for retail, showroom, gallery, or boutique professional use.
The property currently operates as P3 Office Lofts, a co-work space featuring eighteen demised office stations across two floors, complete with conference rooms, a kitchenette, two restrooms, and a private call booth. Two- 5-ton dualzone HVAC system, exposed brick interiors, sealed concrete floors, skylights, and industrial track lighting give the space a distinctive creative-loft character.
With the original co-work deed restriction having expired, the next owner has full flexibility — continue an existing operation, occupy as a single-tenant creative office HQ, or reposition for retail, showroom, gallery, or boutique professional use.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
2,500 SF
Building Class
B
Year Built/Renovated
1924/2018
Price
$1,750,000
Price Per SF
$700
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,250 SF
Slab To Slab
14’
Building FAR
1.91
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
PD30, Long Beach - Downtown Plan.
Amenities
- 24 Hour Access
- Conferencing Facility
- Security System
- Skylights
- Kitchen
- Central Heating
- Plug & Play
- Reception
- Wi-Fi
- Air Conditioning
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Exceptionally walkable
90/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7280-020-032 | Improvements Assessment | $1,008,147 |
| Land Assessment | $530,604 | Total Assessment | $1,538,751 |
Property Taxes
Parcel Number
7280-020-032
Land Assessment
$530,604
Improvements Assessment
$1,008,147
Total Assessment
$1,538,751
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Jewel Box in Downtown | 120 E 3rd St
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