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$ 4,645,000
Est. payment | /mo
2 Beds
4 Baths
$ 4,645,000
Est. payment | /mo
2 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25079041
Bedrooms 2
Property Sub-Type Res Income 2-4 Units
Property Description
Priced to sell at an 11 GRM and a 5.87% Cap Rate in the most coveted pocket of Alamitos Beach! Pro forma 9.2 GRM and 7.4% Cap Rate! This opportunity delivers immediate cash flow with 26% upside in NOI. 1912 E. 2nd Street is a well maintained 19-unit apartment building steps from Bixby Park and the Pacific Ocean. This location ensures effortless access to trendy dining, boutique shopping, and lively entertainment options along Broadway, Retro Row, and the booming Downtown Long Beachdriving strong tenant demand and rental growth. The property showcases an eye-catching art deco facade, featuring 11 spacious studios, 6 one-bedroom/one-bath units, and 2 one-bedroom/one-and-one-half-bath townhome units. The securely gated property offers an inviting inner courtyard and a rare two-car garagea coveted feature that could command premium rental income, or can be converted to an ADU for additional income. With RUBS (Ratio Utility Billing System) already implemented, operating costs are minimized, immediately boosting your net income. Combining a prime location with strong fundamentals, this is a rare chance for a savvy investor to enhance value, and secure significant long-term appreciation in one of Southern Californias most sought after markets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off 2nd Between Broadway and Ocean next to Bixby Park
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Tax ID 7265020010
Listed by Shane Young Younglewin Advisors, Inc.
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Reyna Perea Lopez
Agent | License ID: 02118739