1142 E. 1st street, Long Beach


Investment Highlights

Executive Summary

We are proud to present 1142 E. 1st. This sensational, fully rehabbed, turnkey, 14 unit, “value add”, apartment building is located just one block from Ocean Blvd, right in the heart of Alamitos Beach. With beautiful curb appeal, historically low vacancy rates, and a 4.81% Cap with room to move, this building is arguably the best investor opportunity in this location! The building is comprised of 14 highly desirable units (2, two beds/1 baths & 12, one beds/1 baths). All 14 units have been extensively upgraded to “like new” condition. Kitchen upgrades consist of: Granite counters, stainless steel appliances, all new cabinetry and fixtures throughout. Bathroom upgrades consist of Granite counters, all new tile flooring, wainscot, tubs, toilets and fixtures. All units have washer/dryers, and onsite laundry caters to guests. Alamitos Beach is neatly positioned between Belmont shore and Downtown. The building is just a short distance (one block) to the Ocean, nearby restaurants, coffee shops, clothing stores, the arts district/art studios, entertainment, the metro and much much more!


1142 E. 1st street, Long Beach, CA 90802
3980000 List Price
14 Units
8,965 Sq.Ft
0.188 Lot Size (Sq.Ft)
16 Bedrooms
14 Full Bathrooms
4.88% Cap Rate
13 GRM (Gross Rent Multiplier)
$284,286 Per Unit

Year Built:
Property Type:
Investment, Commercial, Multifamily