Long Beach Multifamily Investment
1836 E 1st St Long Beach, CA 90802
1836 E 1st St, Long Beach, CA, 90802
Contact for pricing
For Sale
Contact for pricing
16-unit apartment building near the beach with assumable financing.
Property Size7,676 SF
Price / SF$540.65
Days on Market652
Property Features for 1836 E 1st St
General Information
- Standard status
- Active
- Size
- 7,676 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1923
Listing Agency
Stepp Commercial
(310) 463-2916
Listed by
Robert Stepp · License #CA 01456379
Source
Crexi
Added: Oct 3, 2024 Checked: Jul 16 at 5:13 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stepp Commercial
Investment Insights
Based on property information with market context.
The property at 1836 E. 1st Street is a 16-unit apartment building located in the Bixby Park area of Long Beach. The controlled access building contains eleven studio apartments, two one-bedroom, one-bathroom apartments, and three two-bedroom, one-bathroom apartments. Most of the units have been renovated and include in-unit washer and dryers. One of the sixteen units is a non-conforming studio that is currently in the process of being permitted. Building improvements include new electrical and gas lines. On-site laundry facilities provide income. The property is located two blocks from the beach and in close proximity to coastal amenities. The building size is 7,676 square feet. Assumable financing is available at 3.59% until April 1, 2027.
Key Highlights
- Assumable financing at 3.59% until April 1, 2027.
- Prime Bixby Park location, just two blocks from the beach!
- Most units renovated with in‑unit washer/dryers.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $280.9k | $36.60 |
| − Vacancy | −$14.0k | −$1.83 |
| EGI | $266.9k | $34.77 |
| − OpEx | −$120.1k | −$15.65 |
| NOI | $146.8k | $19.12 |
7,676 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.83M – $2.45M
NOI $146,792 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.79M
NOI $287,679 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bixby Court
Apartment Building
Maravilhas da Terra ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 16-unit apartment building near the beach with assumable financing.
Where is this apartment building located?
The property is located at 1836 E 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: Assumable financing at 3.59% until April 1, 2027.; **Prime Bixby Park location, just two blocks from the beach!**; Most units renovated with in‑unit washer/dryers.
