833 E 1st St - Apartments FOR SALE


Long Beach, CA 90802
$2,350,000 USD
949-584-0503
833 E 1st St, Long Beach, CA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/14
null | 4.3% Cap Rate

833 E 1st St
Long Beach, CA 90802


HIGHLIGHTS

  • Outstanding Location – Short Walk to the Beach and Downtown
  • Predominantly Single-Story Units
  • Gated Access & Garage Parking (6 Garages)
  • Added Value Opportunity – Projected ±45% in Rental Upside
  • Long Term Ownership – Motivated Sellers
  • Part of a (4) Property Portfolio -- Can Be Purchased Separately or Together

OVERVIEW

Morgan Skenderian, Inc. is pleased to present 833 E. 1st Street, a 10*-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (8) 1-bedroom/1-bathroom single story units in the front building, plus a huge 3-bedroom/2-bathroom in the back, above the studio and garages. 833 E. 1st St. offers substantial upside potential by updating the units and bringing rents closer to market levels. *The studio unit is non-conforming.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$386 USD /SF

# OF UNITS

10

PRICE/UNIT

$235,000

CAP RATE

4.3%

% 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

1922

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

R4, Long Beach

APN/PARCEL ID

7265-001-032

ASK ABOUT THIS PROPERTY

Damien BreauxMorgan-Skenderian Investment Real Estate GroupMore Info
949-584-0503

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Damien BreauxMorgan-Skenderian Investment Real Estate GroupMore Info
949-584-0503

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