Westside (11) Homes with Residential Income Property Type

Westside (11) Homes with Residential Income Property Type

Welcome to the vibrant Westside of Long Beach, California, where coastal charm meets urban sophistication! Nestled in Los Angeles County, this dynamic neighborhood is not just a place to live, but a lifestyle to embrace. With its beautiful beaches, eclectic dining, and rich cultural scene, Westside offers an ideal environment for both families and investors alike.

The Westside is renowned for its diverse architecture, featuring a mix of classic California bungalows and modern multifamily units. For those looking to invest, this area is particularly appealing due to its residential income properties. These homes not only provide a comfortable living space but also the potential for steady rental income, making them an excellent choice for savvy investors. Imagine owning a charming duplex or triplex, where you can enjoy the benefits of homeownership while generating revenue from rental units.

The community here is as inviting as the homes themselves. Residents enjoy easy access to beautiful parks, local markets, and a variety of entertainment options. The proximity to the beach means you can spend your weekends soaking up the sun or enjoying water sports, while the vibrant arts scene keeps the cultural calendar full year-round.

Whether you’re looking to settle down or seeking a lucrative investment opportunity, the Westside of Long Beach is a fantastic choice. With its unique blend of residential income properties, stunning coastal views, and a welcoming community spirit, this region truly has something for everyone. Discover the charm and potential of Westside Long Beach today!

Newest Westside (11) Homes with Residential Income Property Type

$5,600,000
OC26123229 MLS Active Status
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 windows, and sewer line improvements. Located within walking distance of the waterfront, La Pasada benefits from proximity to Aquarium of the Pacific, Long Beach Convention Center, Shoreline Village, and Cesar E. Chavez Park. The property also enjoys convenient access to the 710 Freeway, Pacific Coast Highway, public transportation, and the ongoing redevelopment of Downtown Long Beach. With below-market financing, a strategic downtown location, flexible zoning, and upside through stabilization of occupancy, La Pasada represents a compelling investment opportunity in one of Southern California's most dynamic urban markets. Investment Highlights Seller financing: 75% LTV at 4% interest, interest-only payments for up to 5 years 29-unit workforce housing asset (11 SROs, 14 studios, 4 one-bedrooms) Grandfathered hotel zoning provides operational flexibility Significant recent capital improvements completed Central HVAC in first floor units Opportunity to increase income through lease-up and operational stabilization Walkable Downtown Long Beach location near major employment, entertainment, and waterfront amenities Positioned to benefit from continued investment and redevelopment in Downtown Long Beach Current stabilized cash-on-cash return exceeds 7% with seller financing in place.

515 W 3rd, Long Beach

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