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36 unit apartment building 1212 E 3rd St 36 Unit Apartment Building $10,595,000 ($294,306/Unit) 5.16% Cap Rate Long Beach, CA 90802
Investment Highlights
- 36 Units on Two Contiguous Parcels in Long Beach’s Popular Alamitos Beach Neighborhood
- Mix Of 18 Studios, 15 One-Bed/One-Bath Units, One Two-Bed/ One-Bath Unit, and Two Two-Bed/Two-Bath Units
- Property Boasts Three Brand New ADU’s and 17 Units Have Been Remodeled
- 11 Percent Rental Upside
Executive Summary
Marcus & Millichap is pleased to present to market 1212 and 1216 East 3rd Street, a 36-unit apartment community on two contiguous parcels in Long Beach, California. With three brand new ADU’s, 17 remodeled units, a great location in the Alamitos Beach neighborhood, and 11 percent rental upside, this offering is a great investment opportunity.
The subject property consists of two two-story buildings with a mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. The buildings share a beautifully landscaped courtyard with picnic tables for tenants’ enjoyment and also feature controlled access and shared laundry.
The subject property consists of two two-story buildings with a mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. The buildings share a beautifully landscaped courtyard with picnic tables for tenants’ enjoyment and also feature controlled access and shared laundry.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $294,306 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 5.16% | Building Size | 19,248 SF |
| Gross Rent Multiplier | 12.41 | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | ||
| Zoning | LBR3S | ||
| Price | $10,595,000 |
| Price Per Unit | $294,306 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 12.41 |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 19,248 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Zoning | LBR3S |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | - | - |
| 1+1 | 15 | - | - |
| Studios | 18 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (90)
Property Taxes
| Parcel Numbers | Total Assessment | $8,902,471 (2025) | |
| Land Assessment | $5,347,425 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,555,046 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$5,347,425 (2025)
Improvements Assessment
$3,555,046 (2025)
Total Assessment
$8,902,471 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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36 unit apartment building | 1212 E 3rd St
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