Multifamily Property for Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90802

Description

Marcus & Millichap is pleased to present The Cadillac, a 36-unit apartment community situated on two contiguous parcels at 1212 and 1216 East 3rd Street in the highly desirable Alamitos Beach neighborhood of Long Beach, California. This well-located asset boasts 3 brand new ADU’s, 17 remodeled units, a stunning upgraded courtyard, and 11 percent rental upside. This offering represents a rare opportunity to acquire a scale asset in a premier coastal submarket with meaningful upside, recent capital improvements, and strong tenant demand fundamentals. The asset consists of two buildings featuring a diverse unit mix of 18 studios, 15 one-bed/one-bath units, one two-bed/one-bath unit, and two two-bed/two-bath units. Amenities include a courtyard with picnic areas, controlled access entry, and laundry facilities. Recent renovations incorporate modern interior finishes such as updated flooring, contemporary cabinetry, quartz countertops, and upgraded fixtures, contributing to strong tenant appeal and reduced ongoing maintenance needs. Remaining classic units provide a clear path for further interior upgrades and rental growth. Located just blocks from the coastline, Alamitos Beach is one of Long Beach’s most vibrant and walkable neighborhoods, known for its proximity to waterfront recreation, dining, and retail along Retro Row and Broadway. The area continues to attract a diverse renter base driven by lifestyle appeal, accessibility, and relative affordability compared to neighboring coastal markets. Long Beach’s multifamily fundamentals remain strong, supported by consistent population density, a growing employment base, and limited new housing supply. High renter demand, coupled with barriers to new development, continues to drive occupancy and rent growth, positioning well-located assets like 1212 and 1216 East 3rd Street for long-term performance. Investment Highlights: • 36-Unit Coastal Asset with Upside: The Cadillac spans two contiguous parcels, featuring three br

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Long Beach, CA — <a href="/search/sale/multifamily/california/long-beach">view the full market</a>.

Contact

Explore this market

Similar Multifamily Property for Sale in Long Beach, CA