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$ 4,645,000
Est. payment | /mo
8,274 Sqft Lot
$ 4,645,000
Est. payment | /mo
8,274 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25079041
HOA Y/N No
Lot Size 8,274 Sqft
Property Sub-Type Res Income 2-4 Units
Property 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.
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.
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.
Location
State CA
County Los Angeles
Area Long Beach (90802)
Zoning Assessor
Exterior
Exterior Feature Stucco
Building
Lot Description Curbs, Sidewalks
Story 3
Lot Size Range 7500-10889 SF
Others
Monthly Total Fees $260
Miscellaneous Value in Land
Acceptable Financing Cash
Listing Terms Cash
Listed by Shane Young • Younglewin Advisors, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
10550 Craftsman Way #184, San Diego, California, 92127, USA