$4,120,000
$4,050,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
1912 E 2nd ST Long Beach, CA 90802
Key Details
Sold Price $4,120,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW18172729
Sold Date 10/10/18
HOA Y/N No
Year Built 1923
Property Description
OFFERS DUE TUESDAY, JULY 24TH BY 5PM PST
1912 East 2nd Street is a 19-unit apartment building in Long Beach, California. In the first quarter of 2018, Long Beach recorded a 7.2% year-over-year increase of effective rents. The property is well-located just steps from Bixby Park and the ocean in Long Beach’s vibrant Alamitos Beach neighborhood, a dense rental area with low vacancy rates. The property’s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Retro Row and in rapidly redeveloping downtown Long Beach.
1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, six one-bed/one-bath and two 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 is mastermetered for water and gas, and five units have separate electric meters.
1912 East 2nd Street’s excellent location makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Urban
Total Parking Spaces 2
Private Pool No
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7265020010
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Trade
Special Listing Condition Standard
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Bought with Steven Bogoyevac • Steven M. Bogoyevac, Broker
GUIDE SoCal
Broker | License ID: DRE#01976964