3723 E 8th Street, Long Beach, CA 90804

About this property

3723 East 8th Street is an 8-unit multifamily investment property located in Long Beach, CA. 3723 East 8th Street offers an attractive mix of one and two-bedroom floor plans as well as 4 garage parking spaces, providing additional income potential. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 3723 East 8th Street represents an attractive value-add opportunity for a new owner. 3723 East 8th Street is situated in the desirable Eastside neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the Los Alamitos Traffic Circle, located within 1 mile of the property. 3723 East 8th Street is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its location within 0.90 miles of Pacific Coast Highway and 1.50 miles from State Route 22, connecting residents to employment hubs throughout Los Angeles and Orange Counties.

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$2,200,000

Sold June 2023 · on market January 2023 · MLS #OC23013563 · Source: CRMLS

Listing Agent: Tyler Leeson · Listing Office: Marcus & Millichap RE Invest · Contact: 714-713-9086 · Bought with: Joseph Finkelstein · Buckingham Investments, Inc

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