3020 E 3rd St

Long Beach, CA 90814

$6,800,000
Price
3
Beds
15
Baths
9,650 Sq. Ft.
$705 / Sq. Ft.
9,650
Sq. Ft.
$705
per Sq. Ft.
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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...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.
  1. Listed by Matthew Firth • DRE #01903073 • Brokerage DRE #01903073 • Matthew Firth, Broker • 562-760-9447
  2. Listed by Darren Moon • DRE #01416390 • Brokerage DRE #00642356 • Pacific Moon Real Estate

Property Details for 3020 East 3rd Street

Parking Spaces Total
0
Private Pool
No
Cooling Type
Ductless
Total Units
15.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9650
Assessor Parcel Number
7257-028-003
LISTING UPDATED: 04/23/2026 03:51 AM

Property Details for 3020 East 3rd Street

StatusActive
MLS #PW26040896
Days on Market53
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built2024
CountyLos Angeles County
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Location

Listing Courtesy of Matthew Firth, Broker, Matthew Firth, DRE #01903073; Pacific Moon Real Estate, Darren Moon, DRE #01416390
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Building Information for 3020 East 3rd Street

Building/Complex3020 E 3rd StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built2024Building Size-

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$39,097 per month

30 year fixed, 6.46% Interest

Principal and Interest

$34,242

Property Taxes

$4,855

HOA Dues

$0

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Property Information for 3020 East 3rd Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $484,440
  • Gross Scheduled Income: $484,440
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $469,907
  • Net Operating Income: $350,980
  • Gross Multiplier: 14.04
  • Cap Rate: 5.16
Expense Details
  • Operating Expense: $118,927
  • New Taxes Expense: $85,000
  • Gardener Expense: $1,200
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $7,431
  • Maintenance Expense: $6,500
  • Professional Management Expense: $18,796
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $118,927
Tax / Assessment Info
  • Tax Block: U
  • Tax Tract Number: 5767.00
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Urban
  • Community: Belmont Heights (BH)
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Washer Included, Dryer Included
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Belmont Heights
  • Builders Tract Code: Belmont Heights (BH)
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,200
  • Unit Type Total Rent: $4,400
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,667
  • Unit Type Total Rent: $26,670
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 3
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,100
  • Unit Type Total Rent: $9,300
  • Unit Type Pro Forma: 3366
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1

Property History for 3020 East 3rd Street

DateEvent & SourcePriceAppreciation
Mar 19, 2026

Listed (Active)

SDMLS #PW26040896

$6,800,000—
Mar 19, 2026

Listed (Active)

CRMLS #PW26040896

$6,800,000—
Mar 19, 2026

Listed (Active)

CLAW #PW26040896MR

$6,800,000—
DateEvent & SourcePrice
03/19/2026

Listed (Active)

SDMLS #PW26040896

$6,800,000
03/19/2026

Listed (Active)

CRMLS #PW26040896

$6,800,000
03/19/2026

Listed (Active)

CLAW #PW26040896MR

$6,800,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3020 East 3rd Street

Taxable ValueLand$2,835,090Additions$1,562,000Total$4,397,090
Tax Record2025$58,262 ($4,855 / month)
Home Facts
Total Finished SqFt8,206 SqFtAbove Grade Finished SqFt8,206 SqFtLot Size7,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLBR2ACountyLOS ANGELESAPN7257-028-003

Schools near 3020 East 3rd Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Mann Elementary School
Public - K to 5
Jefferson Leadership Academies School
Public - 6 to 8
Wilson High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Mann Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 3020 East 3rd Street, Long Beach, CA 90814

3020 East 3rd Street is a multi-family home for sale in Long Beach, CA 90814. This property was listed for sale on March 19, 2026 by Matthew Firth, Broker, it's currently listed at $6,800,000. It has been on the market for a total of 53 days and was last sold on June 15, 2023. This listing's school district is Long Beach Unified School District. Nearby schools include Mann Elementary School, Jefferson Leadership Academies School and Wilson High School. 3020 East 3rd Street is a 3-bed, 15-bath, 9,650 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Matthew Firth, Broker, Matthew Firth, DRE #01903073; Pacific Moon Real Estate, Darren Moon, DRE #01416390

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.