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

$5,095,000 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

50 Transit Score

70 Walk Score

                
                    Highlights
                
                                Fully Reimagined 12-Unit Coastal Asset - Completely renovated down to the studs with permitted improvements
                            
                                Strong In-Place Cash Flow - 100% leased and currently operating at a 5.52% CAP Rate and 12.92 GRM, with RUBS in place
                            
                                Significant Value-Add Opportunity — Approved plans for two new 2BR/1BA ADUs
                            
                                Exceptional Capital Improvements — New plumbing, upgraded electrical, HVAC/ventilation, in-unit washer/dryers, modern kitchens and baths
                            
                                Major Tax & Coastal Location Advantages — Estimated $1.379M of depreciation over the first five years through cost segregation

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	-	20.4 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