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1912 2nd Street, Long Beach, CA 90802
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1912 2nd Street
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  • MLS#: PW25079041 ( Apartment )
  • Street Address: 1912 2nd Street
  • Viewed: 11
  • Price: $4,645,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1923
  • Bldg sqft: 0
  • Days On Market: 59
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90802
  • Subdivision: Alamitos Beach (ab)
  • Provided by: Younglewin Advisors, Inc.
  • Contact: Shane Shane
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Priced to sell at an 11 GRM and a 5.87% Cap Rate in the most coveted pocket of Alamitos Beach! Pro forma 9.2 GRM and 7.4% Cap Rate! This opportunity delivers immediate cash flow with 26% upside in NOI. 1912 E. 2nd Street is a well maintained 19 unit apartment building steps from Bixby Park and the Pacific Ocean. This location ensures effortless access to trendy dining, boutique shopping, and lively entertainment options along Broadway, Retro Row, and the booming Downtown Long Beachdriving strong tenant demand and rental growth. The property showcases an eye catching art deco facade, featuring 11 spacious studios, 6 one bedroom/one bath units, and 2 one bedroom/one and one half bath townhome units. The securely gated property offers an inviting inner courtyard and a rare two car garagea coveted feature that could command premium rental income, or can be converted to an ADU for additional income. With RUBS (Ratio Utility Billing System) already implemented, operating costs are minimized, immediately boosting your net income. Combining a prime location with strong fundamentals, this is a rare chance for a savvy investor to enhance value, and secure significant long term appreciation in one of Southern Californias most sought after markets.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 9662.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Construction Materials
  1. Stucco
Country
  1. US
Days On Market
  1. 309
Electric Expense
  1. 2500.00
Entry Location
  1. 2nd Street
Fireplace Features
  1. None
Fuel Expense
  1. 0.00
Garage Spaces
  1. 2.00
Insurance Expense
  1. 12078.00
Laundry Features
  1. Common Area
Laundry Income
  1. 2400.00
Lockboxtype
  1. None
Lot Features
  1. Front Yard
  2. Value In Land
Netoperatingincome
  1. 271322.00
Number Of Separate Electric Meters
  1. 20
Parcel Number
  1. 7265020010
Parking Features
  1. Garage Faces Rear
Pool Features
  1. None
Postalcodeplus4
  1. 3908
Professionalmanagementexpense
  1. 21055.00
Property Type
  1. Apartment
Security Features
  1. Gated Community
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 436118758:CRM
Spa Features
  1. None
Subdivision Name Other
  1. Alamitos Beach (AB)
Taxblock
  1. 67
Tenant Pays
  1. Electricity
  2. See Remarks
Totalactualrent
  1. 421092.00
Totalexpenses
  1. 138293.00
Trash Expense
  1. 2000.00
Views
  1. 11
Water Sewer Expense
  1. 2500.00
Water Source
  1. Public
Year Built
  1. 1923
Year Built Source
  1. Assessor
Zoning
  1. LBR4R