USACALong BeachBelmont Heights (Bh)3020 E 3Rd St

3020 E 3 Rd St, Long Beach, CA

Condo

For Sale

Listed price in listed location currency (USD).

$6,800,000

000

MLS® PW26040896

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage No

HOA Fees $6,500

Taxes

Days Active 0

Approx. Age 2024

MLS® Number PW26040896

Property Address: 3020 E 3rd St, Long Beach, CA, 90814-6416

Average square foot calculated using Size range provided by listing agent.

Description

Meet Bluff & Oak. With 12 of the 15 units fully rebuilt in 2024 and the remaining 3 delivered as 100% new construction in 2026, the property operates with a true new construction profile. The scope of work extended well beyond cosmetic upgrades and included full replacement of plumbing (waste lines, water lines, new main, backflow preventer), new individual water heaters, and a fully upgraded electrical system with new subpanels and 600-amp service. Mechanical systems, HVAC, doors, windows, and ventilation were all replaced, along with a new roof, façades, hardscape, landscaping, exterior lighting, and signage. All unit interiors were rebuilt with modern kitchens and baths, quartz countertops, Energy-Star appliances, designer fixtures, plank flooring, and in-unit laundry, positioning the asset at the top of the local rental market while materially reducing future capital exposure. The asset also includes the option to lease 8 surface parking spaces directly behind the property on a rolling 2-year term. A third-party cost segregation study has been completed and is transferable to a new owner, allowing for approximately $2.1M of accelerated depreciation within the first five years versus c. $730K under standard depreciation, creating a meaningful front-loaded tax shield to enhance after-tax returns. With a going-in cap rate of 5.16%, compared to c. 4.5% for comparable new construction, the asset offers a spread to newer product while maintaining a similar risk profile. Even modest rent growth of 3–4% annually would drive NOI growth of ~15–20% over a five-year hold. With expenses stabilized through recent renovations and RUBS implementation, most of that growth flows directly to the bottom line. Long Beach led coastal California rent growth at ~6% through 2025, outperforming nearby markets. Bluff Heights continues to emerge as one of the most durable coastal submarkets in Long Beach, driven by walkability, proximity to the ocean, and a strong renter base. Nearby single-family home sales ranging from ~$1.7M to $3M+ reinforce rent ceilings and long-term demand, while relative affordability continues to attract new residents. From an operational standpoint, the asset is designed for efficiency. All major systems are new, utilities are separated with RUBS in place, and there is no deferred maintenance or near-term capital needs, allowing ownership to focus on cash flow rather than execution in an increasingly complex operating environment.

MLS® NumberPW26040896

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age2024

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 19, 2026List Date

$6,800,000List Price

Home Appraisal

This property is estimated to sell between: $1,872,000 and $9,264,000.

Similar properties in this area sold on average for: $1,872,727

Expected to sell in 84 days. Similar properties sold in 84 days. This home has been on eXp Realty for 0 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

Commute

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Starting Address

Destination Address

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