1001 E 1st St - Apartments FOR SALE


Long Beach, CA 90802
$2,650,000 USD
310-259-7556
1001 E 1st St, Long Beach, CA for Sale
$2,650,000 USD
Apartments - FOR SALE
1/35
null | 4.55% Cap Rate

1001 E 1st St
Long Beach, CA 90802


HIGHLIGHTS

  • Mills Act property with substantial property tax savings for any new owner
  • Meticulously renewed to original Spanish revival architecture
  • Designed by the famous William Esser
  • 1 block to the beach
  • Ideal owner's unit and rental income

OVERVIEW

Welcome to Esser House! This stunning Spanish Colonial Revival property is truly irreplaceable. Meticulously restored to its original design and beauty, 1001 E 1st St. was built by William Esser the famous 18th century Long Beach Builder. The owners have not merely restored it, but meticulously revived every intricate detail to mirror the craftsmanship and soul of its original design. From each carefully chosen material to every delicate feature, it stands as a tribute to its historic beauty, inviting us to step back into the grace of its first creation. The beauty of this building will bring you back to a bring and so will the property taxes. Through it's redesign it has received a historic Mills Act Designation which drops the property taxes down to $5000 annually. Each unit showcases elegant architectural details, including beautiful hardwood floors, classic fixtures, built-in mantles, arches, wrought iron, and tile accents. The owner’s unit boasts 2 large bedrooms and 2 bathrooms, one with a Jacuzzi steam spa, along with a private balcony. The second unit is a generous 3-bedroom, 2-bath apartment with a private patio. All units offer eat-in kitchens, separate dining and living rooms, and in-unit laundry facilities. The property provides ample parking with 3 garages and 3 additional spaces on the apron, along with garage storage. There is also a separate bonus space that could serve as an office or additional storage. The location is an easy walk to Downtown Long Beach, with its restaurants, shops, and the beach. The Esser House is a Long Beach Historic Landmark and is protected under the Mills Act, offering substantial tax savings. It represents a rare opportunity to own a piece of Long Beach history.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$789 USD /SF

# OF UNITS

3

PRICE/UNIT

$883,333

CAP RATE

4.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,522 SF

ZONING

LBR4R

APN/PARCEL ID

7265-002-019

ASK ABOUT THIS PROPERTY

Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.