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515 W 3rd Street

Long Beach, CA 90802

– beds
– baths
– sqft
6,093 sqft lot
1928 build
– on site

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

Listed By CRMLS_CA / Mike Marcu / Mike Marcu, Broker / 949 688 1224

Last checked: Checking… • Last updated Apr 29, 2025 •

MLS# OC25093913 —

The Building

Year Built:

1928
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

10200.00
Building Area Units:

Square Feet
Total Number Of Units:

29
# of Buildings:

1
Stories Total:

3
Entry Level:

1
Common Walls:

1 Common Wall
# of Separate Gas Meters:

1
# of Separate Water Meters:

1
# of Separate Electric Meters:

17

Interior

Entry Location:

1
Laundry:

Community
Laundry:

1

Location

Directions:

3rd Street and Magnolia
Latitude:

33.77081200
Longitude:

-118.19849100

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

LBPD30
Lot Features:

16-20 Units/Acre
Lot Size Area:

6093.0000
Lot Size Acres:

0.1399
Lot Size SqFt:

6093.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

138
Tax Census Tract:

5759.01
Tax Tract:

802
Tax Lot:

26

The Listing

Special Listing Conditions:

Standard
Parcel Number:

7278022040

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Subdivision:

Other (OTHR)
Subdivision:

Other
Features:

Urban
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No

Parking

Parking:

No
Parking:

None
Parking Spaces:

1.00
Uncovered Spaces:

1.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Frontier

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
4/29/25 Apr 29, 2025	Listed / Active	CRMLS_CA	$5,950,000
10/24/24 Oct 24, 2024	Listed / Active	CRMLS_CA

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This multifamily located in Downtown Long Beach, Long Beach, CA 90802 is currently for sale for $5,950,000. 515 W 3rd Street is a – square foot multifamily with – beds and – baths that has been on Estately for 22 days. 515 W 3rd Street is in the Downtown Long Beach neighborhood of Long Beach and has a WalkScore® of 91, making it a walker’s paradise. This multifamily is in the attendance area of Cabrillo High School, Chavez Elementary School, and Washington Middle School.

Listing Courtesy of: CRMLS_CA and Mike Marcu, Broker. Based on information from California Regional Multiple Listing Service, Inc. as of 20:15 on May 21.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.