1237 E. 1st Street is a 18-unit fully stabilized, turnkey apartment asset in prime Alamitos Beach. Over $1,165,000 has been invested in the property. This building was taken back to the studs and completely rebuilt from the floors, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. (See CAPEX summary on pages 14-17.) The property features a mix of two (2) 2BD/1BA units, three (3) 1BD/1BA units and 11 studios. All of the units were gutted and fully remodeled with high- end materials. The interior designer-led renovations include (but are not limted to) recessed and custom lighting completely new kitchens and bathrooms, stainless steel appliances, and in-unit washer/ dryers. Located in prime Alamitos Beach, the property is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to ecclectic and arts-driven East Village Arts District and vibrant Downtown Long Beach and its multitude of employment opportunities. Alamitos Beach is the #4 Best Neighborhoods for Young Professionals, as ranked by Niche.com. The submarket fetches 14% higher rents than the Long Beach average.
Additional Features
- 16-20 Units/Acre
- Parking spaces: 0.00
- Listing Status: Active
- Listing Agent: Robert Stepp
(lic# 01456379)
of Pacific West
- Listing Office: Keller Williams - Santa Monica
(lic# 01499010 )
- CO-Listing Agent: Todd Hawke
(lic# 01376219)
of Pacific West
- CO-Listing Office: Keller Williams - Santa Monica
(lic# 01499010 )
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Based on information from CRISNet MLS as of 29th April 2024 at 12:44am. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
