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.
Listing courtesy of George Bustamante from Coldwell Banker Commercial
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