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1605 E 1st St
For Sale $2,500,000 ($502.92 per Sq Ft)
$2,500,000 ($502.92 per Sq Ft)
- 5 Units
- 4,971 Sq Ft
- 8,273 Sq Ft
- Unknown Cap Rate
Description
This coastal investment property is located within a historic district, minutes to the beach with small shops, coffee houses, restaurants, proximate to Marine Stadium, Alamitos Bay, and Naples Island. Convenient to public transportation and freeway access, with proximity to Cal State Long Beach. An incredible unit mix, consisting of a classic 3-bedroom/2-bath house, plus four newer condominium-style units, composed of three 3-bedroom/2-bath units and one 2-bedroom/2-bath unit. All units are separately metered and have upgraded appliances, including washers and driers. The property is well maintained and nicely landscaped, with a solar-camera security system. There are five tandem garages, offering two parking spaces per unit, a big plus in an area where parking is at a premium. PRICE REDUCED with a 6% CAP RATE!
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,500,000 |
| Property Type | Multi-Family |
| Usable Sqft | 4,971 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1988 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7265013013 |
| MLS # | 25588185 |
| Property ID | 291993912 |
| Lot Sqft | 8,273 |
| Zoning | LBR4R |
| Total Units | 5 |
| Days on Market | 130 |
| Original List Price | $3,215,000 |
| Date Updated | November 14, 2025 |
| Date Created | September 10, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 2.00 | $2,787 | $0 |
| Unit #2 | 3 | 2.00 | $3,450 | $0 |
| Gross Income (Yr) | $ 196,060 |
| Operating Expenses | $ 48,160 |
| Net Income (Yr) | $ 151,964 |
| Cap Rate | 6.07% |
Listing Provided By
Albert Morell an agent of . Lic #00466538
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Robert Crawford
REAL ESTATE AGENT