$6,800,000

3020 E 3rd, Long Beach, CA 90814

  • 3 beds |
  • 3 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon7,505sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 29 days ago

Property Description

Meet Bluff & Oak. With 12 of the 15 units fully rebuilt in 2024 and the remaining 3 delivered as 100% new construction in 2026, the property operates with a true new construction profile. The scope of work extended well beyond cosmetic upgrades and included full replacement of plumbing (waste lines, water lines, new main, backflow preventer), new individual water heaters, and a fully upgraded electrical system with new subpanels and 600-amp service. Mechanical systems, HVAC, doors, windows, and ventilation were all replaced, along with a new roof, faades, hardscape, landscaping, exterior lighting, and signage. All unit interiors were rebuilt with modern kitchens and baths, quartz countertops, Energy-Star appliances, designer fixtures, plank flooring, and in-unit laundry, positioning the asset at the top of the local rental market while materially reducing future capital exposure. The asset also includes the option to lease 8 surface parking spaces directly behind the property on a rolling 2-year term. A third-party cost segregation study has been completed and is transferable to a new owner, allowing for approximately $2.1M of accelerated depreciation within the first five years versus c. $730K under standard depreciation, creating a meaningful front-loaded tax shield to enhance after-tax returns. With a going-in cap rate of 5.16%, compared to c. 4.5% for comparable new construction, the asset offers a spread to newer product while maintaining a similar risk profile. Even modest rent growth of 34% annually would drive NOI growth of ~1520% over a five-year hold. With expense

Listing Status:
Active
Date Added:
March 19, 2026
Data Last Updated:
April 18, 2026 at 7:11AM
Listing Office:
Matthew Firth, Broker :
Listing Agent:
Matthew Firth : 562-760-9447
MLS ID:
PW26040896
  • Heating: Radiant
  • Pool: N/K
  • General: 2 Story
  • Originating MLS: California Regional MLS
  • County: Los Angeles
  • Zoning: Estimated7257028003
  • Source: California Regional MLS

This listing courtesy of Matthew Firth , Matthew Firth, Broker

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

M

Mann Elementary School

257 Coronado Ave, Long Beach, CA, 90803

Grades KG-5

0.16 miles away

J

Jefferson Leadership Academies

750 Euclid Ave, Long Beach, CA, 90804

Grades 6-8

0.74 miles away

W

Wilson High School

4400 E 10th St, Long Beach, CA, 90804

Grades 9-12

1.12 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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