Long Beach, CA 90802 1221 E 1st Street
$5,440,000
14 more
Presented By: Juan Huizar with Sage Real Estate Group, Inc.; 562-307-0838
- MLS# PW25156097
- 07/14/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 4
Baths • 1
SQFT • 8,120
Home Details
Fully stabilized, 16 unit, turnkey apartment building located in the highly desirable Alamitos Beach area. With over $950,000 invested, the property underwent a complete transformation down to the studs including new flooring, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. All units were fully gutted and remodeled using high-end materials, with renovations led by an interior designer. Upgrades include recessed and custom lighting, brand-new kitchens and bathrooms, stainless steel appliances, and in-unit washers and dryers.
Presented By: Juan Huizar with Sage Real Estate Group, Inc.; 562-307-0838
Interior Features for 1221 E 1st Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesInside
Total Stories2
Other Rooms
Entry Level1
General for 1221 E 1st Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.37
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs
Construction MaterialsCopperPlumbing
CoolingNone
CountyLos Angeles
DirectionsOcean Ave and E. 1st Street
Electric Expense1800.0
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income421020.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense8120.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet9067.0
Lot Size UnitsSquareFeet
MLS Area4 - Downtown Area, Alamitos Beach
Maintenance Expense4800.0
MobileHomeRemainsYNNo
Net Operating Income292259.0
New ConstructionNo
Number Of Units Total16
Number of Units Leased16
Operating Expense116129.0
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 NameAlamitos Beach (AB)
Tax Lot17
Taxes$67,688
Total Actual Rent35075.0
Trash Expense1800.0
ViewNone
Water Sewer Expense1885.0
Year Built1923
Year Built SourceOwner
ZoningLBR4R
Exterior for 1221 E 1st Street
Building Area Total8120.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixteenToTwentyUnitsAcre
Lot Size Acres0.2081
Lot Size Area9067.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters1
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate