1517 E 1st St - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$2,500,000 USD
310-490-8134
1517 E 1st St, Long Beach, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/26
null | 4.57% Cap Rate

1517 E 1st St
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Incredible location - Alamitos Beach! One block from the ocean!
  • Large lot - Four units have their own large Backyard
  • All six units have been renovated over the past 8 years.
  • Each unit has it's own laundry!
  • Four garages and two tandem parking spaces on site.
  • Upside in rental Income!

OVERVIEW

Pride of Ownership, 6 Unit, Trophy Property! Located within the highly soughtafter community of Alamitos Beach, merely footsteps from the sand. 1517 E. 1st street is a classic, Long Beach, early 1900’s building, featuring all classic characteristics and qualities of early 20th century architecture – boasting magnificent high ceilings, built in cabinetry, hardwood flooring, large open floor plans with an abundance of natural light. Both upper level units have large sunrooms. In 2016 the asset received a full interior/exterior renovation. Improvements include; all new kitchen upgrades (quartz counters, tile flooring, all new cabinetry, stainless steel appliances and all new fixtures). Bathrooms were upgraded with all new granite counters, tile flooring/wainscot, new toilets, tubs and fixtures. Each unit has its own washer dryer and is separately metered for gas and electric. Lower level units have their own private yards and each unit has its own parking space. Located just a short distance from Belmont Shore’s “2nd street”, which houses most of Long Beach's best fashion stores, restaurants, bars and coffee shops. Perfect building for the sophisticated investor looking for a prime asset in an A location.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$499 USD /SF

# OF UNITS

6

PRICE/UNIT

$416,667

CAP RATE

4.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1914

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

R4R, Long Beach

APN/PARCEL ID

7265-013-016

ASK ABOUT THIS PROPERTY

Cameron JacquesKinnery's Brokerage House and Elite PropertyMore Info
310-490-8134

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Cameron JacquesKinnery's Brokerage House and Elite PropertyMore Info
310-490-8134

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