We are pleased to present a well maintained 19-unit apartment building in Long Beach, California. The property is well-located just steps from Bixby Park and the Pacific Ocean in Long Beach’s vibrant Alamitos Beach neighborhood. The property’s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Broadway, Retro Row and in the rapidly redeveloping Downtown Long Beach. 1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense. 1912 E 2nd is priced attractively at a 11.6 GRM, and a 5.40% cap rate with 20% upside in NOI. The current loan is assumable at an interest rate of 3.67% and 64% LTV. The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents and long term appreciation.
Property Details
Property Features
Property Information:
Year Built: 1923
Stories: 2
Listing Office:
Office Name: Younglewin Advisors, Inc.
Office Phone: (562) 556-1118
Listing Agent: Shane Young
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 2 spaces
Lot Features
Lot Information:
Lot Size: 0.19 Acres
Other
Directions Information:
Directions: Off Cherry Between Broadway and Ocean
Price Information
Listing Price Info
Price Summary:
List Price: $4,800,000
Tax Information:
Annual Amount: $53,423
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Long Beach, CA.
This property is $3.9M more than the Median Sold Price in Long Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #PW24131544
Listing Office:
Office Name: Younglewin Advisors, Inc.
Office Phone: (562) 556-1118
Listing Agent: Shane Young
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/21/2024, 5:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Oct 10, 2018
Oct 10, 2018Home Sold
$4,120,000
May 10, 2000
May 10, 2000Home Sold
$590,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$53,423
$4,247,116
2020
$52,655
$4,202,400
2019
$7,873
$4,120,000
2018
$7,785
$432,242
2017
$7,785
$423,768
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Burbank Elementary School
501 Junipero Ave
Distance between this listing and this school0.50 miles
Public District Grades KG-5
5
/10
Mann Elementary School
257 Coronado Ave
Distance between this listing and this school0.85 miles
Public District Grades KG-5
5
/10
Robert Louis Stevenson Elementary School
515 Lime Ave
Distance between this listing and this school1.00 miles
Public District Grades KG-5
Nearby Schools
4
/10
Franklin Classical Middle School
540 Cerritos Ave
Distance between this listing and this school0.72 miles
Public District Grades 6-8
7
/10
Jefferson Leadership Academies
750 Euclid Ave
Distance between this listing and this school1.34 miles
Public District Grades 6-8
4
/10
Jessie E. Nelson Academy
1951 Cherry Ave
Distance between this listing and this school1.84 miles
Public District Grades 6-8
Nearby Schools
5
/10
Renaissance High School for the Arts
235 E 8th St
Distance between this listing and this school1.43 miles
Public District Grades 9-12
1
/10
Clear Passage Educational Center
1471 Martin Luther King Jr Ave
Distance between this listing and this school1.44 miles
Public Charter Grades 9-12
6
/10
Polytechnic High School
1600 Atlantic Ave
Distance between this listing and this school1.66 miles
The neighbors living near this home have an average income of $57,692. The most common annual income of people living in Long Beach, CA is between $35k-100k. Typical family type is single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1912 E 2nd St
What is the listing price of this property?
The listing price of 1912 E 2nd St property is $4,800,000.
What type of property is this?
The property 1912 E 2nd St is a condo located in Long Beach, California, 90802.
Is this property for sale now?
Active Listing: 1912 E 2nd St is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $53,423 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on October 10, 2018 for $4,120,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 1912 E 2nd St is 1923.
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This home is located at 1912 E 2nd St in Long Beach, CA and zip code 90802 in the The Harbor neighborhood. This home, which was built in 1923, sits on a 0.19 acre lot. It has been listed on Rocket Homes since June 27, 2024 and is currently priced at $4,800,000.
While more than 94 listings in Long Beach, CA in October 2024 were sold above asking price, there were more than 35 listings sold at asking price, and more than 83 were sold below. The number of homes for sale in Long Beach, CA decreased by 0.1% between September 2024 and October 2024. In October 2024, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $824,667.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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