1421 E 3rd, Long Beach, CA 90802

Property Description

Investor/Developer Opportunity in Prime Alamitos Beach! Welcome to 1421-1427 E. 3rd Street, a rare opportunity to own a well-maintained fourplex in the heart of Long Beach’s highly sought-after Alamitos Beach neighborhood. Just blocks from the ocean, vibrant Retro Row, and bustling Downtown Long Beach, this property offers the perfect blend of location, cash flow, and development potential. Each of the four spacious units is approximately 1,110 square feet and offers a comfortable and functional layout with large living rooms, separate dining areas, hardwood floors, and abundant natural light. The two downstairs units feature charming outdoor front porches directly off the living room—perfect for relaxing or entertaining. The two upstairs units each include a bonus room/den ideal for a home office, though technically recorded as two-bedroom units per title, the second room does not function as a true bedroom. All units include in-unit washer/dryer hookups and the property is separately metered for gas, electricity, and trash—tenants pay their own utilities, while the owner pays for water. Situated on an oversized 8,337 SF lot, the property includes 8 surface parking spaces—a valuable amenity in this high-demand neighborhood. With generous lot size and favorable zoning, there's potential to add up to 4 ADUs (buyer to verify), creating an 8-unit income-producing property. Whether you're an investor seeking stable income and long-term upside, or a developer looking to maximize value through expansion, this property offers incredible potential in one of Long Beach’s strongest rental markets. Highlights: Four large ~1,110 SF units, 8 surface parking spaces, 8,337 SF lot with ADU potential (up to 4 additional units – buyer to verify), new sewer line from building to city main in 2023, complete exterior paint 2025, Downstairs units feature private front porches, Upstairs units include bonus den/office space (title reflects 2 bedrooms), In-unit laundry hookups, Separately metered for gas, electricity, and trash (tenants pay utilities), Owner pays water,, Prime Alamitos Beach location near the ocean, shops, restaurants & nightlife Endless potential. Unbeatable location. Don’t miss this rare chance to own in one of Long Beach’s most vibrant and walkable neighborhoods!