$6,300,000
1221 1st Street, Long Beach 90802
3
Beds
3
Baths
9,053
Lot Size
16
# Of Units
Listing Agent
Robert Stepp - Keller Williams - Santa Monica1221 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.
Facts & Features
MLS® # | PW24055909 |
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Price | $6,300,000 |
Bedrooms | 3 |
Bathrooms | 3.00 |
Lot Size | 9,053 |
Year Built | 1923 |
Type | Residential Income |
Sub-Type | Mixed Use |
Status | Active |
# Of Units | 16 |
Community Information
Address | 1221 1st Street |
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Area | 4 - Downtown Area, Alamitos Beach |
Subdivision | Alamitos Beach (AB) |
City | Long Beach |
County | Los Angeles |
Zip Code | 90802 |
Amenities
Is Waterfront | No |
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Has Pool | No |
Pool | None |
Interior
Has Basement | No |
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Fireplace | No |
# of Stories | 2 |
Exterior
Lot Description | 16-20 Units/Acre |
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Additional Information
Date Listed | March 20th, 2024 |
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Days on Market | 38 |
Zoning | LBR4R |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Robert Stepp |
---|---|
Office | Keller Williams - Santa Monica |