Courtesy of: Brett Lyon | Lyon Stahl Investment Real Estate, Inc.
Purchase Type: Sale
MLS ID: SB21165871
Days On Market: 129
Year Build: 1957
Lot size: 0.09
Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
New Construction: No
Swimming Pool: No
Has Waterfront: No
Address: 555 E 3rd
County: Los Angeles
City: Long Beach
Neighborhood: 4 - Downtown Area, Alamitos Beach, Alamitos Beach (ab)
Pool Features: None
553-555 E 3rd Street is a unique fully VACANT duplex located in Downtown Long Beach, just a short commute to Long Beach Waterfront, Long Beach Convention Center, and the Aquarium of the Pacific. The 2-unit was built in 1957, but recently remodeled, and consisting of 1,926 SF of living space situated on a 3,894 SF lot. 553-555 E 3rd Street offers a unit mix consisting of (2) 1-Bed/1-Bath, which can be used as retail, residential space, or both. The property features open parking inside it’s private property gate.
Located in one of the strongest rental markets in California and currently performing above a 3.5% cap rate - this is an excellent opportunity for an owner/user or a potential investor to obtain 30-year fixed residential financing while rates are at a historic low.