Active

1221 E 1st Street

Long Beach CA, 90802

$6,300,000


$775.86 per sqft

Active

8,120 sqft

Multi-family

Built in 1923

Listed by Robert Stepp with Keller Williams - Santa Monica 310-482-2200

1221 E. 1st Street is a 16-unit fully stabilized, turnkey apartment asset in prime Alamitos Beach. Over $950,000 has been invested in the property. This building was taken back to the studs and completely rebuilt from the floors, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. (See CAPEX summary on pages 12-15.) The property features a mix of two (2) 2BD/1BA units, three (3) 1BD/1BA units and 11 studios. All of the units were gutted and fully remodeled with high- end materials. The interior designer-led renovations include (but are not limted to) recessed and custom lighting completely new kitchens and bathrooms, stainless steel appliances, and in-unit washer/ dryers. Located in prime Alamitos Beach, the property is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to ecclectic and arts-driven East Village Arts District and vibrant Downtown Long Beach and its multitude of employment opportunities. Alamitos Beach is the #4 Best Neighborhoods for Young Professionals, as ranked by Niche.com. The submarket fetches 14% higher rents than the Long Beach average.

PW24055909

MLS ID

March 20, 2024

Listed

May 25, 2024

Updated

Map

1221 E 1st Street
Long Beach CA, 90802

Interior Features

Total Stories

2


Laundry Description

Inside


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.21 Acres


Lot Features

16-20 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

4 - Downtown Area, Alamitos Beach


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LBR4R


Buyer Agency Compensation

2%

Listing Contact: 310-482-2200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:31 AM UTC

 

Powered byLuxury Presence