Active
1237 E 1st Street
Long Beach CA, 90802
$7,100,000
$853.47 per sqft
Active
8,319 sqft
Multi-family
Built in 1923
Listed by Robert Stepp with Keller Williams - Santa Monica 310-482-2200
1237 E. 1st Street is a 18-unit fully stabilized, turnkey apartment asset in prime Alamitos Beach. Over $1,165,000 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 14-17.) 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.
PW24055916
MLSⓇ ID
March 20, 2024
Listed
March 28, 2024
Updated
Map
1237 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
0.19 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 3/28/2024. 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.
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Data last updated on 3/28/2024 at 3:33 PM UTC