Active

1912 E 2nd ST

LONG BEACH CA, 90802

$4,800,000


$496.79 per sqft

Active

2 Beds

4 Baths

9,662 sqft

Multi-family

Built in 1923

We are pleased to present a well maintained 19-unit apartment building in Long Beach, California. The property is well-located just steps from Bixby Park and the Pacific Ocean in Long Beach s vibrant Alamitos Beach neighborhood. The property s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Broadway, Retro Row and in the rapidly redeveloping Downtown Long Beach. 1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense. 1912 E 2nd is priced attractively at a 11.6 GRM, and a 5.40% cap rate with 20% upside in NOI. The current loan is assumable at an interest rate of 3.67% and 64% LTV. The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents and long term appreciation.

PW24131544MR

MLS ID

June 26, 2024

Listed

October 2, 2024

Updated

Map

1912 E 2nd ST
LONG BEACH CA, 90802

Interior Features

Total Stories

2


Bedrooms

2


Total Bathrooms

4


Laundry Description

Laundry Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.19 Acres


Sewer

Public Sewer

Other Property Details

Area Name

Downtown Area, Alamitos Beach


Days on Market

49


Garage

Yes


Garage Spaces

2


Parking Total

2


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LBR4R

Listing History

Date

Event

Price

8/14/2024

Price change

$4,800,000

-4%

Listed by Shane Young with Younglewin Advisors, Inc.
Listing Contact: 562-556-1118 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Davi Nogueira | CA DRE# 01991473 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/2/2024

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