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Long Beach, CA 90802 1229 E 4th Street

$3,000,000

1229 E 4Th Street Long Beach, Ca - Image 11229 E 4Th Street Long Beach, Ca - Image 21229 E 4Th Street Long Beach, Ca - Image 3
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Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com
  • MLS# PW24077326
  • 04/18/2024
  • Request Tour
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  • BedBeds • 12
  • BathBaths • 1
  • FootageSQFT • 7,442
  • GarageGarage • 7

Home Details

We are pleased to present a 12 unit apartment building located at 1229 - 1231 E. 4th Street in Long Beach, California. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 6 parcels for a total of 7,442 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1936 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 7 garages which are generating income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.
Presented By: Kevin King with Marcus & Millichap; kking@marcusmillichap.com

Interior Features for 1229 E 4th Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixStreet
Total Stories2

Other Rooms

Entry Level1

General for 1229 E 4th Street

Additional Parcels Description7266-014-017
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, Sidewalks
CountyLos Angeles
Days on Market
Directions4th St & Orange Ave
Electric Expense2750.0
Entry LocationSide
Fuel Expense2750.0
Garage Spaces7.0
Garage Y/NYes
Gross Income137994.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense2638.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet6534.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense10200.0
MobileHomeRemainsYNNo
Net Operating Income137994.0
New ConstructionNo
Operating Expense78039.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NYes
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street Name4th
Subdivision NameAlamitos Beach (AB)
Tax Lot5
Taxes$37,500
Total Actual Rent18276.0
Total Units12
Trash Expense2750.0
View Y/NNo
Water Sewer Expense2750.0
Waterfront Y/NNo
Year Built1936
Year Built SourceAssessor
ZoningLBR3T

Exterior for 1229 E 4th Street

Building Area Total7442.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1115UnitsAcre
Lot Size Acres0.15
Lot Size Area6534.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters13
Number of Separate Gas Meters13
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking7.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,000,000
MLS#PW24077326
List Date 04/18/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors