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515 W 3rd, Long Beach, CA 90802

Long Beach
Local realty services provided by:CENTURY 21 Masters
515 W 3rd,Long Beach, CA 90802
$5,600,000
  • - Beds
  • - Baths
  • 9,588 sq. ft.
  • Multi-family
  • Active
Listed by: mike marcu
Office: mike marcu, broker909-371-1322
MLS#:OC26123229
Source:CRMLS

Price summary

  • Price:$5,600,000
  • Price per sq. ft.:$584.06

About this home

Seller Financing Available – 75% LTV at 4% Interest, Interest-Only Payments for Up to 5 years. La Pasada, a 29-unit apartment building located at 515 W. 3rd Street in the heart of Downtown Long Beach. The property consists of 11 SRO units, 14 studios, and 4 one-bedroom apartments, serving the area's growing demand for affordable workforce housing. Originally constructed as a hotel, La Pasada has operated as apartments for more than two decades while retaining its grandfathered hotel zoning. This rare designation provides ownership with the flexibility to continue operating as apartments or explore future short-term lodging opportunities. The building has undergone substantial capital improvements, including renovated unit interiors, central HVAC throughout all 29 units, a remodeled second-floor community bathroom, updated building systems, and an on-site laundry facility. Additional improvements include a newer roof, upgraded electrical infrastructure, replacement...

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Home facts

  • Year built:1928
  • Listing ID #:OC26123229
  • Added:5 day(s) ago
  • Updated:June 11, 2026 at 10:34 AM

Rooms and interior

  • Living area:9,588 sq. ft.

Structure and exterior

  • Year built:1928
  • Building area:9,588 sq. ft.
  • Lot area:0.14 Acres
  • Lot Features:Zero Lot Line

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$5,600,000
  • Price per sq. ft.:$584.06
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Masters is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Masters, a broker participant of California Regional MLS (Southern California). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved. CRMLS Member Broker: Randy Keith Thompson

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