617 West 3rd St · Long Beach, CA 90802

$1,699,999

4 bd · 4.0 ba · 3,310 sqft · MultiFamily public records · 72 Days on market

Built 1921 7,508 sqft lot $514/sqft · 72% above area Est $2152k · 21% under

---

Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, the property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.

Key facts

• 9 unit property
• Strong rental demand
• Recent upgrades

Tags

• 9 UNIT PROPERTY
• INVESTMENT OPPORTUNITY
• STRONG RENTAL DEMAND
• URBAN COASTAL ENVIRONMENT
• RECENT UPGRADES
• UTILITY UPGRADES

🏷️ Possibly a rental listed for sale. The $1,699,999 price doesn't fit this home's estimated sale value (~$2,152,492) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 9 × 9-bed/9.0-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $10k ($114k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.70M).
• Recommended offer: $1.60M (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 204 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $24,744/mo this rent would consume 399% of the median local household income ($75k/yr) (locally 4689% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $51k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $476k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($1.60M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $199k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.36M; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,597,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.01%
• DSCR: 2.07
• GRM: 5.7

CMA / ARV

• ARV (median comp): $2,152,492
• List price: $1,699,999
• Delta: -17.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.60×
• Total profit: $285,034
• Equity at exit: $253,475

10-year hold

• IRR: 22.6%
• Equity multiple: 2.78×
• Total profit: $846,857
• Equity at exit: $146,985

Cash invested: $476,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90802

• Home prices YoY: -26.1%
• Rents YoY: 1.1%
• Active inventory: 204
• Price-to-rent: 51.5×

Monthly cashflow live

• Estimated rent: $24,744 medium
• Mortgage (P&I): −$8,915
• Tax from tax record: −$399 /mo · $4,792/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,196
• Net cashflow: $9,525

Break-even live

Break-even rent $12,687

Max offer price $1,699,999

Occupancy floor 57%

Sensitivity live

Price	-10% $10,487	-5% $10,006	+0% $9,525	+5% $9,044	+10% $8,563
Rent	-10% $7,570	-5% $8,548	+0% $9,525	+5% $10,503	+10% $11,480
Rate	-1.0pp $10,381	-0.5pp $9,958	base $9,525	+0.5pp $9,085	+1.0pp $8,636

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	9	9	$24,741
Total (9 units)			$24,744

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 W Broadway Long Beach, CA	3.0	1.0–3.0	1677	$3,604	$2.15	0d	13	0.15mi

Listing history 28 events

1. 2026-06-21
   pricedays on market $1,699,999 Active 72 DOM
2. 2026-06-18
   days on market $1,775,000 Active 69 DOM
3. 2026-06-17
   days on market $1,775,000 Active 68 DOM
4. 2026-06-16
   days on market $1,775,000 Active 67 DOM
5. 2026-06-15
   days on market $1,775,000 Active 66 DOM
6. 2026-06-13
   days on market $1,775,000 Active 64 DOM
7. 2026-06-13
   days on market $1,775,000 Active 63 DOM
8. 2026-06-09
   days on market $1,775,000 Active 60 DOM
9. 2026-06-08
   days on market $1,775,000 Active 59 DOM
10. 2026-06-07
    days on market $1,775,000 Active 58 DOM
11. 2026-06-04
    days on market $1,775,000 Active 55 DOM
12. 2026-06-03
    days on market $1,775,000 Active 54 DOM
13. 2026-06-02
    days on market $1,775,000 Active 53 DOM
14. 2026-06-01
    days on market $1,775,000 Active 52 DOM
15. 2026-05-31
    days on market $1,775,000 Active 51 DOM
16. 2026-05-19
    status Active 1340-char remark

    Show marketing remark (1340 chars)

    Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, the property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.

17. 2026-05-05
    status Pending Sale 1340-char remark

    Show marketing remark (1340 chars)

    Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, the property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.

18. 2026-04-24
    price $1,849,000 1340-char remark

    Show marketing remark (1340 chars)

    Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, the property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.

19. 2026-03-27
    listed $1,899,000 Active 1340-char remark

    Show marketing remark (1340 chars)

    Introducing this exceptional 9-unit property located in the heart of vibrant Long Beach, CA. Positioned in one of Southern California’s most dynamic coastal markets, 617 W 3rd Street offers a compelling investment opportunity in the rapidly evolving Downtown Long Beach corridor. Just minutes from the waterfront, Pine Avenue, and the city’s major employment hubs, the property benefits from strong rental demand driven by both lifestyle and location. Long Beach continues to see sustained growth fueled by ongoing redevelopment, proximity to the ports, and accessibility to both Los Angeles and Orange County. The area attracts a diverse tenant base including young professionals, students, and long-term residents seeking an urban coastal environment with walkability and transit access. The property presents a rare opportunity for investors to capture both immediate income and future upside. The 9-unit asset consists of two 4-unit apartment-style buildings and one Craftsman single-family residence with a detached 2-car garage situated between them. Several units have been recently upgraded, and utility improvements have also been completed. The property is fully rented with a number of long-term tenants and operates at approximately a 6.02% cap rate, offering stable in-place income with additional upside potential.

20. 2026-02-12
    soldstatus $1,365,000
21. 2025-06-29
    historical $1,495
22. 2025-06-25
    price $1,495
23. 2025-06-18
    price $1,595
24. 2025-05-05
    listed $1,695
25. 2025-05-05
    historical $1,695
26. 2025-05-01
    historical $1,695
27. 2025-05-01
    listed $1,695
28. 2025-03-25
    listed $1,695

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,792 · $399/mo
• Projected year-2 tax: $12,920 · $1,077/mo
• Expected delta: +$8,128/yr (+$677/mo · 169.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $296,928
• − Mortgage interest: −$95,226
• − Property taxes: −$4,792
• − Insurance: −$8,500
• − Repairs & maintenance: −$23,754
• − Management: −$23,754
• − Depreciation: −$49,455
• Taxable income: $91,447
• Est. tax owed @ 24.0%: −$21,947
• After-tax cash flow: $92,354/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 40,434
• Household income: $74,510
• Rent vs Own: 79.0% rent · 21.0% own
• Severe rent burden: 4689.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 37% White 32% Black 15% Two or more races 14% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 27% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Estonian 2%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 27% Other Indo-European 3% Tagalog/Filipino 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.40%
• Current HPI: 380.7305
• Rent YoY: ▲ 1.14%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+108985.5% since first listed

13 events — show timeline

• 2026-05-19 Relisted — CRMLS
• 2026-05-05 Pending — CRMLS
• 2026-04-24 Price Changed $1,849,000 CRMLS
• 2026-03-27 Listed $1,899,000 CRMLS
• 2026-02-12 Sold (Public Records) $1,365,000 Public Records
• 2025-06-29 Rental Removed $1,495 SHOWMOJO
• 2025-06-25 Price Changed $1,495 SHOWMOJO
• 2025-06-18 Price Changed $1,595 SHOWMOJO
• 2025-05-05 Listed for Rent $1,695 SHOWMOJO
• 2025-05-05 Rental Removed $1,695 SHOWMOJO2
• 2025-05-01 Rental Removed $1,695 SHOWMOJO
• 2025-05-01 Listed for Rent $1,695 SHOWMOJO2
• 2025-03-25 Listed for Rent $1,695 SHOWMOJO

Property tax history

+5.0%/yr

Latest (2025): $4,792 · +5.9% YoY. Source: county tax records.