1912 E 2nd ST Long Beach, CA 90802
9,662 SqFt
UPDATED:
12/13/2024 09:37 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,662 sqft
Price per Sqft $496
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW24131544
HOA Y/N No
Year Built 1923
Lot Size 8,272 Sqft
Acres 0.1899
Property Description
1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense. 1912 E 2nd is priced attractively at a 11.60 GRM, and a 5.40% cap rate with 20% upside in NOI to low 10 times gross and a 6.46% cap rate.
The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents and long term appreciation.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Interior
Laundry Common Area
Exterior
Garage Spaces 2.0
Pool None
Community Features Dog Park, Park, Sidewalks, Street Lights
Private Pool No
Building
Lot Description Park Nearby, Value In Land
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Confidential INFO
TERMS Cash,Cash To Existing Loan,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS Drive by only. Submit offers subject to inspection
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