Priced to sell at an attractive 11.27 GRM and a 5.72% cap rate in a prime location, this opportunity delivers immediate cash flow with a remarkable 26% NOI upside through a straightforward renovation plan.
We are pleased to present 1912 E. 2nd Street, a well maintained 19-unit apartment building in the heart of Long Beach, California. Situated just steps from Bixby Park and the Pacific Ocean, the property resides in the thriving Alamitos Beach neighborhood, promising tenants a desirable coastal lifestyle.
This location ensures effortless access to trendy dining, boutique shopping, and lively entertainment options along Broadway, Retro Row, and the booming Downtown Long Beach—driving strong tenant demand and rental growth potential.
Built in 1923, 1912 E. 2nd Street showcases a charming two-story design with an eye-catching art deco facade, featuring 11 spacious studios, 6 one-bedroom/one-bath units, and 2 one-bedroom/one-and-one-half-bath units. The securely gated property offers an inviting inner courtyard and a rare two-car garage—a coveted feature that could command premium rental income. With RUBS (Ratio Utility Billing System) already implemented, operating costs are minimized, boosting your bottom line from day one.
Take it further with the potential of a garage-ADU conversion, unlocking even greater returns. Combining a prime location with strong fundamentals, this is a rare chance for a savvy investor to enhance value, maximize rents, and secure significant long-term appreciation in one of Southern California’s most dynamic markets.
Lechavarria@onthegorealestate.com
