James Melton
James Melton, California Value Group, Inc.Phone: (714) 318-4664
Email: [email protected]

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listing
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Residential IncomeFor Sale
$6,850,000
1237 E 1st Street
Long Beach, CA 90802
Listed by Robert Stepp DRE#01456379 [email protected] Keller Williams - Santa Monica
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$35,458/mo

1237 E. 1st Street is a 18-unit turnkey apartment asset in prime Alamitos Beach. Over $1,165,000 has been invested in the property. This building was taken back to the studs and completely rebuilt from the floors, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. (See CAPEX summary on pages 14-17.) The property features a mix of two (2) 2BD/1BA units, three (3) 1BD/1BA units and 11 studios. All of the units were gutted and fully remodeled with high- end materials. The interior designer-led renovations include (but are not limited to) recessed and custom lighting completely new kitchens and bathrooms, stainless steel appliances, and in-unit washer/ dryers. Located in prime Alamitos Beach, the property is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to eclectic and arts-driven East Village Arts District and vibrant Downtown Long Beach and its multitude of employment opportunities. Alamitos Beach is the #4 Best Neighborhoods for Young Professionals, as ranked by Niche.com. The submarket fetches 14% higher rents than the Long Beach average.

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Information courtesy of Keller Williams - Santa Monica is subject to verification and is not guaranteed.
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