Long Beach, CA 90802 833 E 1st Street
$2,095,000
7 more
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
- MLS# PW24222778
- 10/28/2024
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 11
Baths • 4
SQFT • 6,087
Garage • 6
Home 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.
Presented By: Damien Breaux with Morgan Skenderian; db@morganskenderian.com
Interior Features for 833 E 1st Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 833 E 1st Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.4
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
DirectionsNorth of E. Ocean Blvd. and East of Alamitos Ave.
Electric Expense2045.0
Entry Location1
Fuel Expense2045.0
Garage Spaces6.0
Garage Y/NYes
Gross Income7200.0
HOANo
Home Warranty Y/NNo
Insurance Expense6696.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet8255.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
Maintenance Expense8412.0
MobileHomeRemainsYNNo
Net Operating Income113580.0
New ConstructionNo
Number Of Units Total10
Operating Expense54652.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameDowntown (DT)
Tax Annual Amount29283.0
Tax Lot16
Taxes$29,283
Total Actual Rent13953.0
Trash Expense2045.0
Water Sewer Expense2045.0
Year Built1922
Year Built SourceAssessor
ZoningLBR4R
Exterior for 833 E 1st Street
Building Area Total6087.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1895
Lot Size Area8255.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters9
Number of Separate Gas Meters9
Number of Separate Water Meters1
Private PoolNo
SpaNo
Total Parking6.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate