Thank you
Robert Stepp
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.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1923
Building Area Total: 8,120
None
Inside
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2078
Lot Size Source: Assessor
Lot Size Square Feet: 9053
Original List Price: 6,300,000
Listing Contract Date: 2024-03-20
Listing Agreement: Exclusive Right To Sell
Parcel Number: 7265011021
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Postal Code Plus 4: 5708
Directions: Orange Ave & E 1st St
Zoning: LBR4R
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Property SubType: Mixed Use
Property Age: 101
Common Walls: 2+ Common Walls
Structure Type: Mixed Use
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
360 W Ocean Boulevard #.., Long Beach, CA,90802 | $479,000 | 1 | 1 | 777 | 7371 Sqft |
527 W 3rd Street, Long Beach, CA,90802 | $8,700,000 | -- | -- | 19,935 | 7525 Sqft |
140 Linden Avenue #962, Long Beach, CA,90802 | $475,000 | 1 | 1 | 539 | 33488 Sqft |
1030 E Ocean Boulevard .., Long Beach, CA,90802 | $885,000 | 3 | 2 | 1,250 | 21096 Sqft |
1000 E Ocean Boulevard .., Long Beach, CA,90802 | $959,000 | 3 | 2 | 1,592 | 37396 Sqft |
338 Cedar Avenue, Long Beach, CA,90802 | $4,500,000 | -- | -- | 10,150 | 7503 Sqft |
708 E Alta Way, Long Beach, CA,90802 | $799,900 | 2 | 1 | 688 | 1293 Sqft |
375 Atlantic Avenue #607, Long Beach, CA,90802 | $425,000 | 1 | 1 | 707 | 11000 Sqft |
1030 E Ocean Boulevard .., Long Beach, CA,90802 | $335,000 | -- | 1 | 460 | 21100 Sqft |
354 Chestnut Avenue #27, Long Beach, CA,90802 | $225,000 | -- | -- | 26,000 | 13037 Sqft |
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ByOwner last updated this listing 05/21/2024 @ 08:27
MLS: PW24055909
LISTED BY: Robert Stepp, Keller Williams - Santa Monica
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.