Long Beach, CA 90802 833 E 1st Street
$2,240,000
7 more
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
Beds • 11
Baths • 4
SQFT • 6,087
Garage • 6
Year Built • 1922
Home Details
Pleased to present 833 E. 1st Street, a 10*-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (8) 1-bedroom/1-bathroom single story units in the front building, plus a huge 3-bedroom/2-bathroom in the back, above the studio and garages. 833 E. 1st St. offers substantial upside potential by updating the units and bringing rents closer to market levels. *The studio unit is non-conforming.
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
Interior Features for 833 E 1st Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 833 E 1st Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.99
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsNorth of E. Ocean Blvd. and East of Alamitos Ave.
Electric Expense2045.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense2045.0
Garage Spaces6.0
Garage Y/NYes
Gross Income7200.0
HOANo
Home Warranty Y/NNo
Insurance Expense6696.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet8255.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense8412.0
MobileHomeRemainsYNNo
Net Operating Income111775.0
New ConstructionNo
Number Of Units Total10
Operating Expense56457.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameDowntown (DT)
Tax Annual Amount31088.0
Tax Lot16
Taxes$31,088
Total Actual Rent13953.0
Trash Expense2045.0
Water Sewer Expense2045.0
Waterfront Y/NNo
Year Built1922
Year Built SourceAssessor
ZoningLBR4R
Exterior for 833 E 1st Street
Building Area Total6087.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1895
Lot Size Area8255.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters9
Number of Separate Gas Meters9
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking6.0
Water SourcePublic
Additional Details
Price History
Justin Hughey
Price
$2,240,000
MLS#PW24222778
List Date
10/28/2024
Property Type
Multi-Family
Phone
(562) 818-1655
