$2,165,000
SOLD SEP 20, 2024
7 Beds
6 Baths
4,717 Sq Ft
8,266 Sq Ft Lot

Recently Sold

$459 Per Sq Ft

6% Below List Price

96 Days on Market

Highlights

  • 0.19 Acre Lot
  • Wood Flooring
  • Neighborhood Views
  • Long Beach Polytechnic High School Rated A
  • Spanish Architecture
  • Laundry Room

About This Home

As of September 2024

Pride of Ownership, 5 Unit, Trophy Property! Located within the highly sought after community of Alamitos Beach, merely footsteps from the sand. 1534 E. 1st street is a picturesque 1920’s building, featuring all classic characteristics and qualities of early 20th century architecture – boasting magnificent high ceilings, built in cabinetry, hardwood flooring, large open floor plans with an abundance of natural light. Interior upgrades include (Kitchen improvements; all new Corion counters, stainless steel appliances, new cabinetry and all new fixtures throughout – Bathroom improvements include; Upgraded vanity counters, tile flooring/wainscot, toilets and fixtures). The asset is comprised of One large 3 bedroom x 2 bathroom unit with in unit laundry, along with Four large 1 bedroom x 1 bathroom units. The asset is separately metered for gas and electric and has onsite laundry, 8 onsite garage spaces, with 2 additional open spaces (10 total). The grounds/garden beds have been beautifully manicured with a large tiled patio area perfect for weekend BBQ’s. Located just a short distance to Belmont Shore’s “2nd street”, which houses most of Long Beach's best fashion stores, restaurants, bars and coffee shops. Perfect building for the sophisticated investor looking for a prime asset in an A+ location.

Last Agent to Sell the Property

Cameron Jacques

Kinnery's Brokerage House License #01852032 Listed on: 05/31/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 8,266 Sq Ft Lot
  • Lot Dimensions are 55 x 151
  • Two or More Common Walls
  • Landscaped
  • Rectangular Lot
  • Garden

Parking

  • 2 Open Parking Spaces
  • 8 Car Garage

Home Design

  • Spanish Architecture
  • Apartment
  • Entry on the 1st floor
  • Raised Foundation

Interior Spaces

  • 4,717 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views
  • Dishwasher
  • Laundry Room

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Location

  • Urban Location

Utilities

  • Floor Furnace
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 6 / 53
  • Tax Tract Number 576
  • Assessor Parcel Number 7265014006
  • $1,112 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 5 Units
  • Alamitos Beach Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $46,525
  • Gross Income $139,920
  • Net Operating Income $90,597

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Parking

8

Listing Details

  • Assessments: No
  • CapRate: 4.13
  • Price Per Unit: 440000
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Alamitos Beach (AB)
  • View: Yes
  • Zoning: LBR4R
  • Architectural Style: Spanish
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7265014006
  • Year Built: 1920
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Wood
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 458.98

Exterior Features

  • Foundation: Raised
  • View: Neighborhood
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher
  • Heating Type: Floor Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Garden, Landscaped, Lot 6500-9999, Rectangular Lot, Walkstreet
  • Lot Size: 55 x 151
  • Lot Size Sq Ft: 8266.00
  • Lot Size Acres: 0.1898

Multi Family

  • Gross Income: 139920.00
  • Gross Multiplier: 15.72
  • Gross Operating Income: 137122.00
  • Gross Scheduled Income: 139920.00
  • Lot Size Area: 8266.0000 Square Feet
  • Net Operating Income: 90597.00
  • Number Of Rented Garages: 8700
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 46525.00
  • Rent Control: No
  • Total Expenses: 46525.00
  • Vacancy Allowance: 2798

Tax Info

  • Tax Block: 53
  • Tax Census Tract: 5766.02
  • Tax Lot: 6
  • Tax Tract Number: 576...
  • TaxOtherAnnualAssessmentAmount: 1112.00

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
09/20/2024 09/20/24 Sold $2,165,000 -1.6% $459 / Sq Ft
06/28/2024 06/28/24 Price Changed $2,200,000 -4.3% $466 / Sq Ft
05/31/2024 05/31/24 For Sale $2,300,000 +25.2% $488 / Sq Ft
09/21/2018 09/21/18 Sold $1,837,500 -3.2% $390 / Sq Ft
08/09/2018 08/09/18 Pending -- -- --
07/16/2018 07/16/18 Price Changed $1,899,000 -15.6% $403 / Sq Ft
06/25/2018 06/25/18 For Sale $2,250,000 -- $477 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24103838

California Regional Multiple Listing Service (CRMLS)