833 1st st, Long Beach, CA 90802
Active
$2,095,000
11%
10 Units
4 Beds
4 Baths
6,087 Area(sq.ft.)
Lot: 8,255 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | studio | 1 | No | $ 955 | $ 955 | $ 1,500 |
| Unit 2 | 8 | 1 | 1 | No | $ 1,379 | $ 11,038 | $ 1,800 |
| Unit 3 | 1 | 3 | 2 | No | $ 1,960 | $ 3,920 | $ 3,200 |
| 10 | 11 | 11 | $ 13,947 | $ 93,179 | $ 19,100 |
| MLS #: | PW24222778MR |
| Days On Market: | 404 |
| Listing Date: | October 28, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 344 |
| Price per unit: | $ 209,500 |
| Year Built: | 1922 |
Property Details
Pleased to present 833 E. 1st Street, a 10*-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (8) 1-bedroom/1-bathroom single story units in the front building, plus a huge 3-bedroom/2-bathroom in the back, above the studio and garages. 833 E. 1st St. offers substantial upside potential by updating the units and bringing rents closer to market levels. *The studio unit is non-conforming.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 168,232 |
| Total Annual Expense: | $ 54,652 |
| Net Operating Income: | $ 113,580 |
| Cap Rate: | 5.4% |
| Gross Rent Multiplier: | 12.08 |
| Actual Gross Rent: | $ 13,953 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR4R |
| Land Lease Type: | Fee |
Interior
| Laundry: | Community |
| Laundry Income: | 1200.00 |
Exterior
| Pool: | No |
Detailed Map
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