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1237 E 1St St, Long Beach, CA 90802
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1237 E 1St St Long Beach, CA 90802

$7,100,000
  • 6 Beds
  • 18 Baths
  • 8,319 Sq.Ft.
For Sale
$7,100,000 Get Pre-Qualified
Map preview of 1237 E 1St St, Long Beach, CA 90802

Property Overview: 1237 E 1St St Long Beach, CA has 6 bedrooms, 18 bathrooms, 8,319 living square feet and 8,242 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1237 E. 1st Street is a 18-unit fully stabilized, 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 limted 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 ecclectic 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.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Co-listed by Todd Hawke | BRE #01376219 | Keller Williams - Santa Monica
Last checked: 3 minutes ago | Last updated: March 20th, 2024 | Source CRMLS | DOM: 45
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Home details

Lot Sq. Ft
8,242
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
PW24055916
City
Long Beach
County
Los Angeles
Time on Site
59 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
  • # of Electric Meters: 19
  • # of Gas Meters: 19
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,400
  • Total Rent: $3,400
  • Pro Forma/Market Rent: $3,570
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,650
  • Total Rent: $7,950
  • Pro Forma/Market Rent: $2,783
Unit Breakdown 3
  • # of Units: 14
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,041
  • Total Rent: $28,574
  • Pro Forma/Market Rent: $2,143
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.67%
  • Gross Rent Multiplier: 14.67
  • Gross Scheduled Income: $483,840
  • Net Operating Income: $331,502
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $137,823
  • Electric: $1,350
  • Gas/Fuel: $1,350
  • Licenses: $1,000
  • New Taxes: $87,248
  • Trash: $1,350
  • Gardener: $900
  • Insurance: $8,790
  • Maintenance: $4,500
  • Professional Management: $28,773
  • Water/Sewer: $1,350

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Property Details for 1237 E 1St St

Interior Features
Laundry Information
  • Has Laundry
  • Inside
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 16-20 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 18
  • Parcel Number: 7265011019
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: Orange Ave & E 1st St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1237 E 1St St

View property's historical transactions

  • May, 2024

  • May 2, 2024

    Date

    Active

    CRMLS: PW24088202

    $1,850

    Price

  • Listing provided courtesy of CRMLS

    Welcome to your freshly renovated Scandinavian-styled apartment in the heart of Long Beach, CA! This beautiful unit boasts brand-new stainless-steel appliances and gold fixtures that give it a modern, sophisticated look. As soon as you step inside, you'll be struck by the open floor plan and natural light that floods the space. The living room and kitchen are connected, making it the perfect place to entertain or simply relax after a long day. The kitchen features sleek stainless-steel appliances, including a refrigerator, stove, and dishwasher, as well as plenty of counter space for all of your cooking needs. The living space is a peaceful retreat, with tons of window space that let in plenty of natural light. The bathroom has also been fully renovated, with a new vanity and gold fixtures that add a touch of luxury. Airy and bright at approximately 425 square feet, this turnkey Studio apartment home boasts a PRIVATE entry, spacious dining and living areas, washer and dryer in-unit, and brand-new energy efficient stainless-steel appliances. The building itself is located in a prime location (with a 94 walk Score and 92 Bike Score), just steps away from GORGEOUS Alamitos beach and all of the shopping, dining, and entertainment that coastal Long Beach has to offer. Just adjacent (within a mile) to GORGEOUS Alamitos Beach with a 94 walk score and 92 bike score. (Street parking only) Unit Features: -All stainless-steel appliances -Washer/Dryer in unit -Parking (Street Parking) -Pets OK (2 pet max / must be approved by mgmt., and with additional pet rent and pet deposit) Owner pays for water. Tenant pays for trash, electricity and gas.

  • April, 2024

  • Apr 15, 2024

    Date

    Canceled

    CRMLS: PW24061579

    $1,850

    Price

  • Mar 28, 2024

    Date

    Active

    CRMLS: PW24061579

    $1,850

    Price

  • Listing provided courtesy of CRMLS

    Welcome to your freshly renovated Scandinavian-styled apartment in the heart of Long Beach, CA! This beautiful unit boasts brand-new stainless-steel appliances and gold fixtures that give it a modern, sophisticated look. As soon as you step inside, you'll be struck by the open floor plan and natural light that floods the space. The living room and kitchen are connected, making it the perfect place to entertain or simply relax after a long day. The kitchen features sleek stainless-steel appliances, including a refrigerator, stove, and dishwasher, as well as plenty of counter space for all of your cooking needs. The living space is a peaceful retreat, with tons of window space that let in plenty of natural light. The bathroom has also been fully renovated, with a new vanity and gold fixtures that add a touch of luxury. Airy and bright at approximately 425 square feet, this turnkey Studio apartment home boasts a PRIVATE entry, spacious dining and living areas, washer and dryer in-unit, and brand-new energy efficient stainless-steel appliances. The building itself is located in a prime location (with a 94 walk Score and 92 Bike Score), just steps away from GORGEOUS Alamitos beach and all of the shopping, dining, and entertainment that coastal Long Beach has to offer. Just adjacent (within a mile) to GORGEOUS Alamitos Beach with a 94 walk score and 92 bike score. (Street parking only) Unit Features: -All stainless-steel appliances -Washer/Dryer in unit -Parking (Street Parking) -Pets OK (2 pet max / must be approved by mgmt., and with additional pet rent and pet deposit) Owner pays for water. Tenant pays for trash, electricity and gas.

  • March, 2024

  • Mar 28, 2024

    Date

    Canceled

    CRMLS: PW23120735

    $1,833

    Price

  • Jul 6, 2023

    Date

    Active

    CRMLS: PW23120735

    $2,000

    Price

  • Listing provided courtesy of CRMLS

    Welcome to your freshly renovated Scandinavian-styled apartment in the heart of Long Beach, CA! This beautiful unit boasts brand-new stainless-steel appliances and gold fixtures that give it a modern, sophisticated look. As soon as you step inside, you'll be struck by the open floor plan and natural light that floods the space. The living room and kitchen are connected, making it the perfect place to entertain or simply relax after a long day. The kitchen features sleek stainless-steel appliances, including a refrigerator, stove, and dishwasher, as well as plenty of counter space for all of your cooking needs. The living space is a peaceful retreat, with tons of window space that let in plenty of natural light. The bathroom has also been fully renovated, with a new vanity and gold fixtures that add a touch of luxury. Airy and bright at approximately 425 square feet, this turnkey Studio apartment home boasts a PRIVATE entry, spacious dining and living areas, washer and dryer in-unit, and brand-new energy efficient stainless-steel appliances. The building itself is located in a prime location (with a 94 walk Score and 92 Bike Score), just steps away from GORGEOUS Alamitos beach and all of the shopping, dining, and entertainment that coastal Long Beach has to offer. Just adjacent (within a mile) to GORGEOUS Alamitos Beach with a 94 walk score and 92 bike score. Rent: $2000 (Street parking only) Unit Features: -All stainless-steel appliances -Washer/Dryer in unit -Parking (Street Parking) -Pets OK (2 pet max / must be approved by mgmt., and with additional pet rent and pet deposit) Owner pays for water. Tenant pays for trash, electricity and gas.

  • March, 2024

  • Mar 20, 2024

    Date

    Active

    CRMLS: PW24055916

    $7,100,000

    Price

  • November, 2023

  • Nov 15, 2023

    Date

    Canceled

    CRMLS: PW23184355

    $7,500,000

    Price

  • Oct 3, 2023

    Date

    Active

    CRMLS: PW23184355

    $7,500,000

    Price

  • Listing provided courtesy of CRMLS

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Tax History for 1237 E 1St St

Assessed Value (2020): $425,785
Year Land Value Improved Value Assessed Value
2020 $99,266 $326,519 $425,785

Home Value Compared to the Market

This property vs the competition

1237 E 1St St is listed 788.61% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $643 and this home is listed at $853.47 per/sqft which puts the price per square foot 32.73% higher than the median price per square foot for the city of Long Beach.

About 1237 E 1St St

Detailed summary of property

1237 E 1St St is a mixed use located in Long Beach, CA 90802 and is currently for sale. This mixed use property offers 6 bedrooms, 18 bathrooms, roughly 8,319 living square feet, and sits on an approximately 8,242 square foot lot. 1237 E 1St St was first listed on ArdentRealEstateGroup.com on March 20, 2024. The homeowner is currently asking $7,100,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $643. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 788.61% higher than the median priced home. While the average home in Long Beach, CA is selling in 51 days, 1237 E 1St St has a days on market of 45 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 1237 E 1St St Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1237 E 1St St

Public county record property details
Beds
6
Baths
18
Year built
1923
Sq. Ft.
8,319
Lot Size
8,242
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
7265-011-019

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$530,000
Median List Price/Sq.Ft.
$630
Median Sold Price
$540,000
Median Sold Price/Sq.Ft.
$627
Total Inventory
130
Median Sale to List Price %
102.86%
Avg Days on Market
37
Loan Type
Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

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Recently Sold Homes Near 1237 E 1St St

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1036 E 2nd St #1, Long Beach, CA 90802
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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