1209 E 1st Street, Long Beach, California 90802, Long Beach, 90802 - bed, bath
ACTIVE$1,599,000
1209 E 1st Street, Long Beach, California 90802
0Bed
0Bath
3,452Sqft
5,029Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Beachside Location: The property is a 4-unit income property located just steps from the sand in the highly desirable and thriving Alamitos Beach area of Long Beach, offering strong tenant demand.
Top Cons:
Property Age & Potential Maintenance: Built in 1912, the property's age suggests potential for outdated infrastructure (plumbing, electrical) and higher ongoing maintenance costs or unforeseen capital expenditures.
Compared to the nearby listings
Price:$1.60M vs avg $1.05M (+$549,000)82%
Size:3,452 sqft vs avg 3,452 sqft50%
Price/sqft:$463 vs avg $46350%
More Insights
Built in 1912 (113 years old).
Condition: The property was built in 1912, indicating an aged structure. While the listing states 'three units recently remodeled,' the visual evidence in the images suggests these remodels are more of a refresh or update from 15-30 years ago rather than a modern renovation. The kitchen features tile countertops, painted older cabinets, and basic white appliances, which are functional but outdated in style. The bathroom also shows basic fixtures and an older built-in vanity, though the flooring appears newer. The property is maintained and move-in ready, but the kitchens and bathrooms would require significant updates to meet current aesthetic standards.
Year Built
1912
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$463
HOA
-
Days on market
-
Sold On
-
MLS number
IN25193325
Home ConditionFair
Features
Deck
View-
About this home
Prime 4-Unit income property near the beach featuring four spacious 1-bedroom, 1-bathroom units just steps from the sand in the thriving Long Beach market. Separate free standing 2-car garage in the back with sewer line that runs directly under allowing for a convenient conversion into a 2 bed 1 bath ADU(open parking available at end of driveway). GRM on market rents of 14.5X, 11.6X after ADU conversion. Three units recently remodeled. All units are 800 sqft+ and have their own laundry room A great option for a savvy investor looking to buy and hold in a prime location with the potential to greatly increase income with the addition of the ADU.
Nearby schools
7/10
Stevenson Elementary School
Public,•K-5•0.6mi
6/10
Burbank Elementary School
Public,•K-5•0.8mi
6/10
Franklin Classical Middle School
Public,•6-8•0.5mi
6/10
Polytechnic High School
Public,•9-12•1.5mi
Price History
Date
Event
Price
10/20/04
Sold
$735,000
Condition Rating
Fair
The property was built in 1912, indicating an aged structure. While the listing states 'three units recently remodeled,' the visual evidence in the images suggests these remodels are more of a refresh or update from 15-30 years ago rather than a modern renovation. The kitchen features tile countertops, painted older cabinets, and basic white appliances, which are functional but outdated in style. The bathroom also shows basic fixtures and an older built-in vanity, though the flooring appears newer. The property is maintained and move-in ready, but the kitchens and bathrooms would require significant updates to meet current aesthetic standards.
Pros & Cons
Pros
Prime Beachside Location: The property is a 4-unit income property located just steps from the sand in the highly desirable and thriving Alamitos Beach area of Long Beach, offering strong tenant demand.
Significant ADU Conversion Potential: A separate free-standing 2-car garage with an existing sewer line presents a convenient and high-value opportunity for conversion into a 2-bedroom, 1-bathroom Accessory Dwelling Unit (ADU), significantly boosting income potential and property value.
Strong Income Growth Opportunity: As a 4-unit income property, it offers immediate cash flow, with substantial potential to increase income and improve the Gross Rent Multiplier (GRM) from 14.5X to 11.6X after the ADU conversion.
Spacious & Partially Updated Units: The property features four spacious 1-bedroom, 1-bathroom units, all exceeding 800 sqft, with three of the units recently remodeled, enhancing tenant appeal and rental rates.
Individual Unit Amenities: Each unit includes its own laundry room, a highly sought-after amenity that adds convenience for tenants and contributes to higher retention and rental value.
Cons
Property Age & Potential Maintenance: Built in 1912, the property's age suggests potential for outdated infrastructure (plumbing, electrical) and higher ongoing maintenance costs or unforeseen capital expenditures.
ADU Conversion Requires Investment: While offering significant upside, the ADU conversion is a future potential that requires additional capital investment, permitting, and time from the new owner to realize the projected income increase.
One Unit Not Remodeled: The description states 'Three units recently remodeled,' implying one unit has not been updated, which may require further investment to bring it to the same standard as the others.