Home | Los Angeles County | Long Beach | 90802 | 445 E 3rd
MLS: CRPW26170001 | Status: | Price: $4,400,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 5,005 | 1922 |
445 E. 3rd Street is a 22-unit multifamily asset located in Long Beach’s East Village Arts District, a dense, walkable submarket within Downtown that continues to attract a steady base of renters driven by proximity to employment, transit, and lifestyle amenities. The property consists of (14) studio units and (8) 1BD/1BA, providing an efficient unit mix aligned with prevailing demand in the area. The seller has invested approximately $530,000 in capital improvements, including interior common areas (hallways, stairwells, keypads), unit interior renovations, new turf and landscaping on exteriors. All unit interiors are completely renovated with designer fixtures and finishes. Approximately $18,200 has been invested per studio unit renovation and ~$19,200 invested per 1BD/1BA renovation. 445 E. 3rd Street is priced at a 5.84% cap rate and 10.10 GRM in place, with clear embedded upside. As rents move to market and RUBS is implemented, the property stabilizes at a 6.82% cap rate and 9.12 GRM—a 98-basis-point expansion in yield and nearly a full point of GRM compression. That equates to $41,075 of additional annual NOI, a 16% increase in cash flow at no change in basis.
| Field | Value |
|---|---|
| MLS # | CRPW26170001 |
| MLS Source | California Regional MLS |
| Days on Site | 1 |
| Feature | Details |
|---|---|
| Laundry | Community Facility |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
Robert Stepp
Keller Williams Realty Downey
License #: 01456379
Phone: (310) 774-3740
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Stevenson Elementary School | public | K-5 | 0.26 mi | 5 |
| International Elementary School | public | K-5 | 0.40 mi | 5 |
| Renaissance High School For The Arts | public | 9-12 | 0.50 mi | 8 |
| Franklin Classical Middle School | public | 6-8 | 0.59 mi | 4 |
| Chavez Elementary School | public | K-5 | 0.84 mi | 6 |
| Edison Elementary School | public | K-5 | 0.86 mi | 3 |
| Lincoln Elementary School | public | K-5 | 0.91 mi | 7 |
| Roosevelt Elementary School | public | K-5 | 1.08 mi | 5 |
| Polytechnic High School | public | 9-12 | 1.15 mi | 7 |
| Burbank Elementary School | public | K-5 | 1.27 mi | 7 |
| Educational Partnership High School | public | 9-12 | 1.37 mi | 3 |
| Whittier Elementary School | public | K-5 | 1.49 mi | 5 |
| Robinson Academy | public | K-8 | 1.72 mi | 5 |
| Washington Middle School | public | 6-8 | 1.72 mi | 4 |
| Jessie Nelson Academy | public | 6-8 | 1.84 mi | 3 |
| Willard Elementary School | public | K-5 | 1.85 mi | 3 |
| Burnett Elementary School | public | K-5 | 1.88 mi | 4 |
| Mann Elementary School | public | K-5 | 1.91 mi | 7 |
| Alvarado Elementary School | public | K-5 | 1.95 mi | 9 |
| Lee Elementary School | public | K-5 | 1.99 mi | 6 |
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This listing information is up-to-date as of August 06, 2026. For the most current information, please contact Robert Stepp, (310) 774-3740.