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$5,950,000
6 Days On Site

515 W 3rd Street
Long Beach, CA 90802

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
10,200
SqFt
$583
/SqFt
1928
Built
Subdivision:
Other
County:
Los Angeles
Listed by Mike Marcu of Mike Marcu, Broker [email protected]

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515 W 3rd Street515 W 3rd Street
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Monthly Payment (Est.)

$27,146
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La Pasada is a 29-unit apartment community located at 515 West 3rd Street in Long Beach. This prime location is directly across the street from the Governor George Deukmejian Courthouse, and a public transportation bus stop is conveniently situated in front of the building. Originally a hotel, the property has been operating as an apartment building for over 20 years but retains the benefit of a grandfathered hotel zoning should an investor wise to operate it with short term rentals. The seller is offering a 70% first note and trust deed with a 5% interest rate, featuring interest-only payments for the duration of the loan. The property boasts new sewer lines, plumbing (both on the first and second floors), an updated electrical system, roof, and windows. The entire first floor has been rebuilt from the studs out, and all units are equipped with central HVAC. The second floor has undergone a complete bathroom remodel, and the interiors have been upgraded throughout. Additionally, the third floor features two common area bathrooms and 11 single room occupancy units, all of which are in good condition

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Listing Snapshot
Price 
$5,950,000
Days On Site 
6 Days
Bedrooms 
N/A
Inside Area (SqFt) 
10,200 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1399 Acres
Year Built 
1928
MLS® Number 
OC25093913
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
6 days agoListing first seen on site
6 days agoListing updated with changes from the MLS®
General Features
Acres 
0.1399
Number Of Stories 
3
Parking 
None
Parking Spaces 
1
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
10200
Water Source 
Public
Zoning 
LBPD30
Interior Features
Laundry Features 
Common Area
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Exterior Features
Pool Features 
None
Community Features
Building Access 
1
Financing Terms Available 
Owner Will Carry
MLS Area 
11 - Westside


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. The 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.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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