515 W 3rd, Long Beach, CA 90802

Long Beach
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
515 W 3rd,Long Beach, CA 90802
$5,600,000
  • 1 Beds
  • 2 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: mike marcu
Office: mike marcu, broker
MLS#:OC26123229
Source:San Diego MLS via CRMLS

Price summary

  • Price:$5,600,000

About this home

Seller Financing Available 75% LTV at 4% Interest, Interest-Only Payments for Up to 5 years. La Pasada, a 29-unit apartment building located at 515 W. 3rd Street in the heart of Downtown Long Beach. The property consists of 11 SRO units, 14 studios, and 4 one-bedroom apartments, serving the area's growing demand for affordable workforce housing. Originally constructed as a hotel, La Pasada has operated as apartments for more than two decades while retaining its grandfathered hotel zoning. This rare designation provides ownership with the flexibility to continue operating as apartments or explore future short-term lodging opportunities. The building has undergone substantial capital improvements, including renovated unit interiors, central HVAC throughout all 29 units, a remodeled second-floor community bathroom, updated building systems, and an on-site laundry facility. Additional improvements include a newer roof, upgraded electrical infrastructure, replacement windows, and sewer...

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Home facts

  • Listing ID #:OC26123229
  • Added:94 day(s) ago
  • Updated:September 08, 2026 at 02:31 PM

Rooms and interior

  • Bedrooms:1
  • Total bathrooms:2

Finances and disclosures

  • Price:$5,600,000
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