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1820 E 2nd St
Long Beach, CA 90802 Downtown Long Beach

$5,299,000 USD

Apartments For Sale • 8,130 SF

Property Details

Property Type Apartments
Total Building Size 8,130 SF
Lot Size 0.19 AC
Building Class C
Year Built 1923
Zoning R4R, Long Beach

46 Transit Score

93 Walk Score

                
                    Highlights
                
                                Fully reimagined 12-unit asset with a complete, permitted renovation—essentially new construction
                            
                                Strong in-place cash flow at a 5.15% CAP rate, with RUBS in place to reduce expenses and boost NOI
                            
                                Significant tax advantages via cost segregation, with an estimated $1.38M in depreciation in the first 5 years
                            
                                Value-add upside with approved plans for two 2-bed / 1-bath ADUs above existing garages
                            
                                Best-in-class interiors featuring modern kitchens, in-unit washer/dryers, and designer finishes
                            
                                Premier Alamitos Beach location, just two blocks from the ocean in Long Beach

Amenities

24 Hour Access
Controlled Access
Washer/Dryer
Ceiling Fans
Kitchen
Refrigerator
Oven
Range
Tub/Shower
Freezer

Public Transportation

Airport	Drive	Walk	Distance
Long Beach (Daugherty Field)	11 min	-	4.3 mi
John Wayne/Orange County	31 min	-	20.3 mi
Los Angeles International	35 min	-	23.3 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	5
Type:	OneCarGarage
Included in Rent:	Yes

Spencer Pabst 562-884-6875 Pabst, Kinney & Associates, Inc.

1820 E 2nd St Long Beach, CA 90802 Downtown Long Beach