$3,980,000
$3,980,000
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1142 E 1st ST #50 Long Beach, CA 90802
8,276 Sqft Lot
Key Details
Sold Price $3,980,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW19275303
Sold Date 02/13/20
HOA Y/N No
Year Built 1913
Lot Size 8,276 Sqft
Acres 0.19
Property Description
We are proud to present 1142 E. 1st. This sensational, fully rehabbed, turnkey, 14 unit, “value add”, apartment building is located just one block from Ocean Blvd, right in the heart of Alamitos Beach. With beautiful curb appeal, historically low vacancy rates, and a 4.81% Cap with room to move, this building is arguably the best investor opportunity in this location!
The building is comprised of 14 highly desirable units (2, two beds/1 baths & 12, one beds/1 baths). All 14 units have been extensively upgraded to “like new” condition. Kitchen upgrades consist of: Granite counters, stainless steel appliances, all new cabinetry and fixtures throughout. Bathroom upgrades consist of Granite counters, all new tile flooring, wainscot, tubs, toilets and fixtures. All units have washer/dryers, and onsite laundry caters to guests.
Alamitos Beach is neatly positioned between Belmont shore and Downtown. The building is just a short distance (one block) to the Ocean, nearby restaurants, coffee shops, clothing stores, the arts district/art studios, entertainment, the metro and much much more!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Rooms
Ensuite Laundry Inside
Interior
Laundry Location Inside
Flooring Laminate, Wood
Fireplace No
Laundry Inside
Exterior
Garage Spaces 4.0
Carport Spaces 2
Garage Description 4.0
Pool None
Community Features Curbs, Park, Street Lights, Sidewalks, Urban
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected, Overhead Utilities
Roof Type Composition
Total Parking Spaces 7
Private Pool No
Building
Lot Description Level, Street Level, Walkstreet
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7265009030
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Cameron Jacques • Kinnery's Brokerage House