1221 1st Street

Long Beach, CA 90802

$6,300,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $775 / sqft

1923

calendar_month Built

Property Description

1221 E. 1st Street is a 16-unit fully stabilized, turnkey apartment asset in prime Alamitos Beach. Over $950,000 has been invested in the property. This building was taken back to the studs and completely rebuilt from the floors, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. (See CAPEX summary on pages 12-15.) The property features a mix of two (2) 2BD/1BA units, three (3) 1BD/1BA units and 11 studios. All of the units were gutted and fully remodeled with high- end materials. The interior designer-led renovations include (but are not limted to) recessed and custom lighting completely new kitchens and bathrooms, stainless steel appliances, and in-unit washer/ dryers. Located in prime Alamitos Beach, the property is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to ecclectic and arts-driven East Village Arts District and vibrant Downtown Long Beach and its multitude of employment opportunities. Alamitos Beach is the #4 Best Neighborhoods for Young Professionals, as ranked by Niche.com. The submarket fetches 14% higher rents than the Long Beach average.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 1221 1st Street
City Long Beach
State CA
Zip 90802
County Los Angeles
Listing Agent Robert Stepp DRE#01456379
Co-Listing Agent Todd Hawke DRE#01376219
Courtesy Of Keller Williams - Santa Monica
MLS PW24055909
List Price $6,300,000
Status Active
Type Residential Income
Subtype Commercial/Residential
Structure Size N/A
Lot Size 9,053
Year Built 1923
DOM 1

Exterior Information

Maps

Listing information courtesy of: Robert Stepp, Todd Hawke, Keller Williams - Santa Monica . *Based on information from the Association of REALTORS/Multiple Listing as of Mar 20th, 2024 at 11:59 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.