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Key Details
Sold Price $2,550,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW24077326
Sold Date 08/23/24
HOA Y/N No
Year Built 1936
Lot Size 6,534 Sqft
Property Description
We are pleased to present a 12 unit apartment building located at 1229 - 1231 E. 4th Street in Long Beach, California. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 6 parcels for a total of 7,442 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1936 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 7 garages which are generating income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR3T
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 7.0
Garage Description 7.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community Yes
Tax ID 7266014019
Energy Description 2750.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
Lease Land No
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Bought with General NONMEMBER • NONMEMBER MRML