1501 E 2nd Street, Long Beach, CA 90802

$2,500,000
List Price
$2,500,000
Status
ACTIVE
MLS#
PW18034397
Year Built
1920
Lot Size
5,061
Lot Location
2-5 Units/Acre
Days on Market
10
Property Type
Multifamily
Stories
Two Level
Neighborhood
Alamitos Beach (Ab)

Property Description

1501 E 2nd St., an 8-unit apartment building in the downtown/Alamitos Beach area Long Beach, California. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment. 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. The offering is comprised of two two-story buildings, 1920 construction apartment buildings with two parking spots on and six large one-bedroom and two studio units. Recent upgrades include some new hardwood-style flooring, new kitchen hardware, upgraded electrical and new bathroom fixtures. Amenities include, laundry room, storage, balconies, and bedroom ceiling fans. The superior location and size of the units makes the 1501 E. 2nd St. property very competitive in such 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 and gas and can be very low maintenance costs for a new owner. The property is 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.

Additional Information

Tract Number
7265
Lot Description
Sidewalks, Storm Drains, Street Lighting, Urban
Pool Description
None
Roof
Asphalt
Water
Public
Attached Structure
Attached

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of George Bustamante from Coldwell Banker Commercial

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.