1501 E 2nd Street

    Long Beach, CA 90802
    • $2,350,000
    • STATUS: Active
    • ON SITE: 35 days
    • ID#: PW18143328
    UPDATED: 12 min ago
    $2,350,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,059
      SQFT
    • $388
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1920
    County:

    School Ratings & Info

    Description

    1501 E 2nd St., is an 8-unit apartment building in the downtown/Alamitos Beach area Long Beach, California. The offering is comprised of two two-story buildings, 1920 construction apartment buildings with two parking spots on and six large one-bedroom and two studio units. Recent upgrades include some new hardwood-style flooring, new kitchen hardware, upgraded electrical and new bathroom fixtures. Amenities include, laundry room, storage, balconies, and bedroom ceiling fans. The superior location and size of the units makes the 1501 E. 2nd St. property very competitive in such a dense rental market. The desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents. The units are separately metered for electricity and gas and can be very low maintenance costs for a new owner. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. Walk to the beach. Located in prime Alamitos Beach, adjacent to the fast developing East Village Arts District, Bluff Park, and in close proximity to a multitude of amenities along East Broadway and Ocean Boulevard, two of Long Beach's busiest main streets. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-21T15:28:39.953. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/84692380

    1501 E 2nd Street Long Beach, CA 90802

    • Price: $2,350,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: PW18143328
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    6,059
    SQFT
    $388
    $/SQFT
    1920
    Built
    Neighborhood:
    Alamitos Beach (Ab)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    1501 E 2nd St., is an 8-unit apartment building in the downtown/Alamitos Beach area Long Beach, California. The offering is comprised of two two-story buildings, 1920 construction apartment buildings with two parking spots on and six large one-bedroom and two studio units. Recent upgrades include some new hardwood-style flooring, new kitchen hardware, upgraded electrical and new bathroom fixtures. Amenities include, laundry room, storage, balconies, and bedroom ceiling fans. The superior location and size of the units makes the 1501 E. 2nd St. property very competitive in such a dense rental market. The desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents. The units are separately metered for electricity and gas and can be very low maintenance costs for a new owner. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. Walk to the beach. Located in prime Alamitos Beach, adjacent to the fast developing East Village Arts District, Bluff Park, and in close proximity to a multitude of amenities along East Broadway and Ocean Boulevard, two of Long Beach's busiest main streets. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment.
    Exterior Features

    Construction Materials FrameStucco Foundation Details Raised Garage Spaces 2.00 Lot Features Near Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Total 2.00 Pool Features None Pool Private YN No Property Attached YN Yes Roof Asphalt

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Wall Heater Heating YN Yes Laundry Features CommunityInsideSee RemarksWasher Hookup Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.01 Community Features CurbsSidewalksStorm DrainsStreet LightingUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 142500.00 Gross Multiplier 16.20 Gross Scheduled Income 142500.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 94178.00 New Taxes Expense 0.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 0 Operating Expense 46447.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Alamitos Beach (Ab) Total Expenses 46447.00 Trash Expense 0.00 Utilities Water Connected Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lbr4r

    Listing provided courtesy of George Bustamante of Coldwell Banker Commercial and Austin Carr of Coldwell Banker Commercial.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-21T15:28:39.953. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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