1501 E 2Nd Street

  • Long Beach

  • $2,349,000
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Residential Income Details

Description
4 CAP RATE property blocks from the beach! This 8-unit apartment building is located in the downtown/Alamitos Beach area Long Beach, California. Comprised of two two-story buildings, 1920's construction buildings with 2 parking spots on and 6 large one-bedroom and 2 studio units. Recent upgrades include new hardwood-style flooring, new kitchen hardware, upgraded electrical and new bathroom fixtures. Amenities include, laundry room, storage, balconies, and ceiling fans. The superior location and large unit size makes this property very competitive in a dense rental market. The desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents. The units are separately metered for electricity & gas and can be very low maintenance costs for a new owner. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. Walk to the beach. Located in prime Alamitos Beach, adjacent to the fast-developing East Village Arts District, Bluff Park, and in close proximity to a multitude of amenities along East Broadway and Ocean Boulevard, two of Long Beach's busiest main streets. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment. Room to improve the rents for the investor that is looking for a value
Essential
MLS #PW18188733
Price$2,349,000
Number of Units8
Sale TypeStandard
StatusActive
Listing BrokerageColdwell Banker Commercial
Listing AgentGeorge Bustamante
Listing Agent BRE #01484265
Co-Listing AgentJ. Steven Warshauer
Co-Listing Agent BRE #00499477
Interior
FeaturesLiving Room Balcony
CoolingNone
FireplaceNone
Exterior
Garage Spaces0
PoolNone
Community
Area4 - Downtown Area, Alamitos Beach
TractAlamitos Beach (AB)
CommunityCurbs,Street Lighting,Urban
Address1501 E 2Nd Street
CityLong Beach
CountyLos Angeles
StateCA
ZipCode90802
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Friday, August 3, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.