Casa 2055

2055 E. 3rd Street, Long Beach, CA 90804

Sale Price


Investment Overview



Year Built


Price Per SF


Price Per Unit


Current Cap Rate


Market Cap Rate


Current GRM


Market GRM


The Offering

Casa 2055 is a 13-unit investment asset located at 2055 E. 3rd Street in Bluff Heights, Long Beach. The property offers a favorable mix of sizable units: one 2 BD/1 BA, six 1 BD/1BA, four of which have dens, and six studio units, four of which have brand-new high-end murphy beds.

Casa 2055 provides a new buyer with an attractive, meticulously renovated, turnkey and fully stabilized asset in a highly desirable rental market. Revenue increases can be achieved over time through parking, storage and yearly market-permitted rent increases.

Over $600K in Capital Improvements

Casa 2055 has undergone extensive renovations to exteriors, electrical, plumbing and mechanical systems, common areas and unit interiors, which total over $600K in capital expenditures (see pages 14, 15 for a complete list of renovations).

“Modern Spanish” Design Marries Old World Charm with Modern Amenities

The improvements enhance the Hacienda-style architecture with a “modern Spanish” aesthetic. Spanish tiling, ironwork, dark hardwood flooring, period built-ins and casement windows are married with modern appliances and amenitieis and high-end design materials and finishes.

California Indoor/Outdoor Hacienda Style

Open-air hallways and walkways meander towards a landscaped common courtyard, providing a residential indoor-outdoor ambiance.The central courtyard has the potential to be transformed into areas for dining, lounging and entertaining.

Highly Desirable Location

The property is located in Bluff Heights, a neighborhood popular with young urban professionals and families, nestled between Alamitos Beach and Belmont Heights. With a walk score of 94 and bike score of 88, the area offers residents a plethora of outdoor recreation and cultural destinations.  The property is walkable to the dining and shopping amenities along 4th Street / Retro Row.

Technology-Driven Property Management Solution

Real Property Management Southland (RPM) is the in-place property management company for Casa 2055. Based in Long Beach and founded in 2014, RPM employs a combination of eight experienced full-time team members, part-time onsite property managers, a deep bench of reliable trade vendors, and best-in-class technology systems to deliver efficient property management services at attractive fees.

Investment Highlights

  • Turnkey, Fully Stabilized Asset
  • Meticulous Renovation — More than $600K in CapEx
  • 3.25% Property Management Fees
  • Appealing Hacienda-Style Architectural Details
  • Modern Spanish Interior Designed Units
  • In-Unit Washer/Dryers
  • Highly Sought-After Rental Location
  • Walking Distance to the Ocean and Bike Paths, Parks and 4th Street / Retro Row Shopping and Dining

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