515 W 3rd Street

Long Beach, CA 90802

  • 0 Bed(s)
  • 0 Bath(s)
  • 10,200 Sqft
  • 6093
    Sqft(Lot)
$5,950,000

Description

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

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    49553407

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

  • Building Information

    • Year Built: 1928
    • Building Area Total: 10,200

    Pool Features

    • None

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1399
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 6093

  • Listing Price Information

    • Original List Price: 5,950,000
    • Listing Contract Date: 2025-04-29

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 7278022040

  • Garage and Parking

    • Garage Description: None

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Electricity

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 11 - Westside
    • Postal Code Plus 4: 2733
    • Directions: 3rd Street and Magnolia
    • Zoning: LBPD30
    • Source Property Type: Residential Income
    • Area: 11 - Westside
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 97
    • Common Walls: 1 Common Wall
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
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BuyOwner last updated this listing 05/05/2025 @ 02:07

  • MLS: OC25093913
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 10,200 sqft, 6,093 sized lot, and 0 parking. are nearby neighborhoods.