$4,645,000
$100k
1912 E 2nd St, Long Beach, CA 90802
- 8Beds
- 21Baths
- 9662SqFt
- 8Beds
- 21Baths
- 9662SqFt
- Property TypeCondo
- Year Built1923
- Price per Sqft$481
- On highrises84 Days
- Garage2 Cars
Property Details
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.
Property Features
Bedrooms
- Bedrooms: 8
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Shane Young
- state license#01963090
- Brokered by:
- Younglewin Advisors, Inc.
- (562) 318-0215