NOT LISTED FOR SALE

1275 E 2nd St Long Beach, CA 90802

Alamitos Beach Neighborhood
3 Beds
3 Baths
10,672 Sq Ft
9,148 Sq Ft Lot

Last Sold April 26, 2022

Last sale price $5,500,000 $515 Per Sq Ft

30 Days on Market

Highlights

  • 0.21 Acre Lot
  • Laundry Room
  • Level Lot
  • Long Beach Polytechnic High School Rated A

About This Home

As of April 2022

1275 East 2nd Street is a 14-unit fully renovated, turn-key multifamily investment property located in Long Beach, a premier rental market in Los Angeles County, California. Fully renovated in 2018, the property received significant capital improvements which modernized the building's exterior, common areas, and unit interiors. These improvements include brand new windows, a fresh two-tone paint scheme, wood slat security doors, upgraded lighting, as well as new cabinetry, stainless steel appliances, and quartz countertops in the interiors. This turn-key asset offers an excellent unit mix consisting of studio, one, and two-bedroom floor plans. Amenities include a community barbeque and picnic area, controlled access, a central courtyard, on-site laundry, garage parking, hardwood flooring, and storage lockers.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 02/14/2022

Last Buyer's Agent

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 02/14/2022

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1956

Lot Details

  • 9,148 Sq Ft Lot
  • No Common Walls
  • Level Lot

Parking

  • 6 Car Garage

Interior Spaces

  • 10,672 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 9 / 94
  • Tax Tract Number 576
  • Assessor Parcel Number 7265011039
  • $2,363 per year additional tax assessments

Community Details

Building Details

  • 14 Leased Units
  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,497
  • Fuel Expense $1,497
  • Insurance Expense $4,067
  • Maintenance Expense $8,400
  • Other Expense $9,763
  • Professional Management Expense $14,240
  • Trash Expense $1,497
  • Water Sewer Expense $1,497
  • New Taxes Expense $65,510
  • Operating Expense $107,966
  • Gross Income $325,620
  • Net Operating Income $208,481

Additional Features

  • 14 Units
  • Laundry Facilities

Property Details

Home Type

Apartment

Year Built

Built in 1956

Lot Details

0

Parking

6

Listing Details

  • Assessments: Yes
  • Price Per Unit: 392857
  • Professional Management Expense: 14240.00
  • Property Attached: No
  • Water Sewer Expenses: 1496.50
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7265011039
  • Year Built: 1956
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 515.37

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1496.50
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 9147.60
  • Lot Size Acres: 0.2100

Multi Family

  • Electric Expense: 1496.50
  • Fuel Expense: 1496.50
  • Gross Income: 325620.00
  • Gross Operating Income: 316447.00
  • Gross Scheduled Income: 305760.00
  • Insurance Expense: 4067.00
  • Lot Size Area: 0.2100 Acres
  • Maintenance Expense: 8400.00
  • Net Operating Income: 208481.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Operating Expense: 107966.00
  • Other Expense: 9763.00
  • Other Expense Description: Misc
  • Other Income1: 19860.00
  • Other Income Description: Miscellaneous
  • Rent Control: Yes
  • Total Actual Rent: 25480.00
  • Total Expenses: 107966.00
  • Vacancy Allowance: 9173

Tax Info

  • New Taxes Expense: 65510.00
  • Tax Block: 94
  • Tax Census Tract: 5766.01
  • Tax Lot: 9
  • Tax Tract Number: 576...
  • TaxOtherAnnualAssessmentAmount: 2363.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/26/2022 04/26/22 Sold $5,500,000 0.0% $515 / Sq Ft
03/16/2022 03/16/22 Pending -- -- --
02/14/2022 02/14/22 For Sale $5,500,000 -- $515 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2022

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    3 in this area

    145 Total Sales

    Tyler Leeson
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22029114

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90802 Alamitos Beach

1275 E 2nd St, Long Beach, CA

This home is located at 1275 E 2nd St, Long Beach, CA 90802 since 14 February 2022. This property was built in 1956. 1275 E 2nd St is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, Franklin Middle School, and Long Beach Polytechnic High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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