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$ 4,400,000
$ 4,550,000 3.3%
1912 E 2nd ST Long Beach, CA 90802
UPDATED:
Key Details
Sold Price $4,400,000
Property Type Residential Income
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25079041
Year Built 1923
Property Sub-Type Apartment
Property Description
Pro forma 9.09 GRM and 7.65% 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 Beach—driving 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 garage—a 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 California's most sought after markets.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Garage Faces Rear
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Biking, Curbs, Dog Park, Park, Street Lights, Sidewalks, Gated
Building
Lot Description Front Yard, Value In Land
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Bought with Robert Stepp Keller Williams Realty Downey