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833 E 1st St
Long Beach, CA 90802 Downtown Long Beach

$2,350,000 USD

Apartments For Sale  •  6,087 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,087 SF
  • Lot Size 0.19 AC
  • Building Class C
  • Year Built 1922
  • Cap Rate 4.30 %
  • Zoning R4, Long Beach
71 Transit Score
96 Walk Score

Highlights

Outstanding Location – Short Walk to the Beach and Downtown
Predominantly Single-Story Units
Gated Access & Garage Parking (6 Garages)
Added Value Opportunity – Projected ±45% in Rental Upside
Long Term Ownership – Motivated Sellers
Part of a (4) Property Portfolio -- Can Be Purchased Separately or Together

Financial Summary (Actual)

Net Operating Income: $100,975 USD (2023)
Cap Rate: 4.30 %
Total Expenses: $57,329 USD

Amenities

  • Controlled Access
  • Laundry Facilities

Public Transportation

Transit/SubwayDriveWalkDistance
1St Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 10 min 0.6 mi
Long Beach Transit Mall (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 13 min 0.7 mi
5Th Street Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 16 min 0.8 mi
Pacific Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 19 min 1.0 mi
AirportDriveWalkDistance
Long Beach (Daugherty Field) 11 min - 4.7 mi
John Wayne/Orange County 32 min - 21.1 mi
Los Angeles International 34 min - 23.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 3
Type: Surface
Included in Rent: Yes
Damien Breaux 949-251-8800 Morgan-Skenderian Investment Real Estate Group
Damien Breaux 949-251-8800 Morgan-Skenderian Investment Real Estate Group