1152 E 1st Street, Long Beach, CA 90802

Long Beach
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
1152 E 1st Street,Long Beach, CA 90802
$6,999,000
  • 8 Beds
  • 30 Baths
  • 19,800 sq. ft.
  • Multi-family
  • Active
Listed by: jonathan swire
Office: the agency424-230-3700
MLS#:26860795
Source:CRMLS

Price summary

  • Price:$6,999,000
  • Price per sq. ft.:$353.48

About this home

PRICED TO SELL - 9.3 GRM and 7.4% CAP at market rents. 30 units in Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located blocks from the ocean with 16 onsite underground parking spaces (all are single spaces). 25 units were updated in the past 5 years and taken down to the studs - all new kitchen cabinets, counter tops, updated bathrooms, flooring and windows. 6 units have W/D's in them. The common areas and exterior were also redone. The Seller has spent over $2MM in CAP EX. The property features 30 legal units and 1 non-conforming 1 bed unit (401). The non-conforming unit can likely be legalized under the Long Beach Amnesty Program - Buyer to verify. The property has an 87 Walkscore. It has a 200 AMP main panel and 50 AMP subpanels - Buyer to verify. There is onsite laundry in the basement and 6 units have W/D in them as well. Based on area rental comps, there is approximately 14% rental upside, allowing an...

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Home facts

  • Year built:1929
  • Listing ID #:26860795
  • Added:49 day(s) ago
  • Updated:September 08, 2026 at 11:06 AM

Rooms and interior

  • Bedrooms:8
  • Total bathrooms:30
  • Living area:19,800 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1929
  • Building area:19,800 sq. ft.
  • Lot area:0.19 Acres

Finances and disclosures

  • Price:$6,999,000
  • Price per sq. ft.:$353.48

Parking

  • Total parking spaces:16
  • Parking description:Assigned
  • Garage:Yes
  • Garage spaces:16
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