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    1836 1St St Long Beach, CA 90802

    Sponsored
    For Sale
    $4,150,000

    16-Unit Apartment Building, Prime Location

    Property size:
    7,676 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 16-unit apartment building, located at 1836 E. 1st Street in Long Beach, California, presents a compelling investment opportunity. Boasting a prime Bixby Park location, this 7,676 square foot property sits on an 8,278 square foot lot (APN 7265-018-007) and offers a mix of unit types: eleven studios, two one-bedroom/one-bathroom units, and three two-bedroom/one-bathroom units. Most units have undergone renovations and include the convenience of in-unit washer/dryers. The building features brand new electrical and gas lines, enhancing its efficiency and safety. Currently generating a Net Operating Income (NOI) of $189,076, with a pro-forma NOI of $236,010, this property offers a 4.56% cap rate and a pro-forma cap rate of 5.69%. An added benefit is the availability of assumable financing at a 3.59% interest rate until April 1, 2027. The building also includes on-site laundry facilities, providing additional income. One non-conforming studio unit is currently undergoing the permitting process. The property's proximity to the beach and the vibrant coastal lifestyle adds significant value. The asking price is $4,150,000, representing a price per unit of $259,375. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a highly desirable Long Beach location. Built in 1923, this controlled-access building offers a strong foundation for future growth and profitability.

    Property Features for 1836 1St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,676 SF

    Building Details

    Year Built
    1923
    Units
    16

    HighLights

    • Excellent Bixby Park location.
    • New electrical and gas lines throughout.
    • Most units feature renovated interiors with in‑unit laundry.
    • Non‑conforming unit undergoing permitting.
    • Assumable financing at 3.59% until April 1, 2027.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bixby Court Apartment Building Maravilhas da Terra ... Tea Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.1691639
    Latitude
    33.7654484

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    FAQs

    What type of property is this?
    Multifamily property - 16-Unit Apartment Building, Prime Location
    Where is this multifamily property located?
    The property is located at 1836 1St St Long Beach, CA.
    What is the asking price?
    The asking price for this property is $4,150,000.
    What are key features of this property?
    This property features: Excellent Bixby Park location.; New electrical and gas lines throughout.; Most units feature renovated interiors with in-unit laundry.
    Request Owner's contact information
    1836 1St St Long Beach, CA 90802
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    Long Beach, CA 90802
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1836 1St St Long Beach, CA 90802
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