1912 E 2nd ST Pending Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90802
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Square Footage 9,662 sqft
Price per Sqft $470
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW25079041
HOA Y/N No
Year Built 1923
Lot Size 8,272 Sqft
Acres 0.1899
Property Sub-Type Apartment
Property Description
Priced to sell at an 10.81 GRM and a 6.06% Cap Rate in the most coveted pocket of Alamitos Beach!
Pro forma 9.09 GRM and 7.65% Cap Rate!
This opportunity delivers immediate cash flow with 26% upside in NOI.
1912 E. 2nd Street is a well maintained 19-unit apartment building steps from Bixby Park and the Pacific Ocean. This location ensures effortless access to trendy dining, boutique shopping, and lively entertainment options along Broadway, Retro Row, and the booming Downtown Long Beach—driving strong tenant demand and rental growth.
The property showcases an eye-catching art deco facade, featuring 11 spacious studios, 6 one-bedroom/one-bath units, and 2 one-bedroom/one-and-one-half-bath townhome units. The securely gated property offers an inviting inner courtyard and a rare two-car garage—a coveted feature that could command premium rental income, or can be converted to an ADU for additional income. With RUBS (Ratio Utility Billing System) already implemented, operating costs are minimized, immediately boosting your net income.
Combining a prime location with strong fundamentals, this is a rare chance for a savvy investor to enhance value, and secure significant long-term appreciation in one of Southern California's most sought after markets.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Garage Faces Rear
Garage Spaces 2.0
Pool None
Community Features Biking,Curbs,Dog Park,Park,Sidewalks,Street Lights
Private Pool No
Building
Lot Description Front Yard,Value In Land
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Security Features Gated Community
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS Drive by only. Please do not disturb tenants. Reach out to agent if interested in seeing the property.