Long Beach, CA 90802,1912 E 2nd Street
Long Beach, CA 90802,1912 E 2nd Street
Long Beach, CA 90802,1912 E 2nd Street
Long Beach, CA 90802,1912 E 2nd Street
Long Beach, CA 90802,1912 E 2nd Street
Long Beach, CA 90802,1912 E 2nd Street
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Listed by Shane Young • Younglewin Advisors, Inc.
$ 4,800,000
Est. payment | /mo

9,662 SqFt


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$ 4,800,000
Est. payment | /mo
Save

9,662 SqFt

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 9,662 sqft

Price per Sqft $496

MLS Listing ID CRPW24131544

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1923

Lot Size 8,274 Sqft

Property Description

YoungLewin Advisors is pleased to present a well maintained 19-unit apartment building in Long Beach, California. The property is well-located just steps from Bixby Park and the Pacific Ocean in Long Beach’s vibrant Alamitos Beach neighborhood. The property’s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Broadway, Retro Row and in the rapidly redeveloping Downtown Long Beach. 1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense. 1912 E 2nd is priced attractively at a 11.60 GRM, and a 5.40% cap rate with 20% upside in NOI to low 10 times gross and a 6.46% cap rate. The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents and long term appreciation.

Location

State CA

County Los Angeles

Interior

Fireplace No

Laundry Other

Building

Lot Description Other

Water Public

Bay East AOR and Contra Costa AOR

GET MORE INFORMATION

Vander Meulen Real Estate Group

Broker, REALTOR® | Lic# 00842213 | Lic# 02150745

+1(925) 798-4663

800 S Broadway, Walnut Creek, CA, 94596, USA

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1912 E 2nd Street