USACALong Beach1142 E 1St St
Listing image | Image 1

1142 E 1St St, Long Beach, CA

House

For Sale

Listed price in listed location currency (USD).
$3,475,000

14148

MLS® 26853641

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 8965 sqft
Garage 
Taxes 
Days Active 0
Lot Size 0.1888 Acres
Approx. Age 1913
Avg. Price Per Sqft $387
MLS® Number 26853641

Property Address: 1142 E 1st St, Long Beach, CA, 90802

Average square foot calculated using Size range provided by listing agent.

Description

PRICED TO SELL - 9.3 GRM and 7.0% CAP at market rents. 14 units in prime Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located blocks from the ocean, all units have been tastefully remodeled and 12 of the 14 units feature in unit W/D's. The front building was constructed in 1913 and the rear structure in 1956. All units were updated in 2020 including new kitchen cabinets, counter tops, updated bathrooms and flooring. Many units have private outdoor patios/spaces. The building was also recently painted green. The property features 5 garages, 1 carport and 2 open parking spaces. The 5 garages in the rear could potentially be converted into 2 new ADU's - Buyer to verify. Currently no tenants pay for parking, it is included as part of their lease. The front building (8 units) is master metered and the rear building (6 units) is separately metered for utilities. The property has an 87 Walkscore as well. Based on area rental comps, there is approximately 11% rental upside, allowing an owner to achieve a 9.35 GRM and 7.0% CAP once rents are leveled to market. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5, 500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games.
MLS® Number26853641
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1913
Basement
DrivewayAssigned
Garage Spaces
HeatWall Furnace
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 7, 2026List Date
$3,475,000List Price
  • Commute

Commute

Starting Address
Destination Address
1142 E 1St St, Long Beach, CA

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