CA > Long Beach
Long Beach, CA 90802,515 W 3rd ST
Long Beach, CA 90802,515 W 3rd ST
Long Beach, CA 90802,515 W 3rd ST
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$5,950,000
Est. payment /mo
6,094 Sqft Lot
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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25093913

HOA Y/N No

Year Built 1928

Lot Size 6,094 Sqft

Property Sub-Type Apartment

Property 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

Location

State CA

County Los Angeles

Area 11 - Westside

Zoning LBPD30

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features None

Pool None

Community Features Urban

Total Parking Spaces 1

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7278022040

Energy Description 3000.0

Acceptable Financing Owner Will Carry

Listing Terms Owner Will Carry

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Mike Marcu • Mike Marcu, Broker • 949 688 1224
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"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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