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402 E 1St St

Long Beach, CA 90802
  • $3,950,000
  • STATUS: Active
  • ON SITE: 85 Days
  • MLS #: 21-100257
UPDATED: 11 min ago
$3,950,000
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,856
    SQFT
  • $576
    $/SQFT
Type:
Multi-Family
Built:
1902
County:

School Ratings & Info

Description

We are pleased to present 402 East 1st Street in Downtown Long Beach, CA. This mixed-use retail/residential building totals 6,856 square feet of building on a 3,730 square foot signalized corner lot. The two-story property consists of three ground floor retail units and three residential units upstairs. The residential units are: one 2bed/1bath and two 1bed/1bath units. An excellent opportunity to own a trophy asset, with historic charm, at the epicenter of The East Village Arts District and within walking distance of the Long Beach waterfront.402 East 1st Street is located in the heart of The East Arts Village District of Downtown Long Beach. Also known as the Arts District of Long Beach, the East Village is a dynamic place to live, work, eat, play, shop, and appreciate art. The district is the home of the Museum of Latin American Art, an organic farmer s market every Saturday, and many art galleries, cafes, and eclectic shops. The property offers upside in rents due to the high volume of consumer driven foot traffic in Downtown Long Beach. Recently, Long Beach has been experienced a development renaissance with over $4 Billion being invested in new development. Just steps from The Westin Long Beach Hotel, a central hub for the over 6 million visitors and tourists to the Downtown Long Beach area. 402 East 1st Street offers immediate access to a broad selection of world-class dining, entertainment, and shopping destinations easily accessible by walking. Retail centers within walking distance include City Place Shopping Center, The Pike Outlets, The Promenade, and Pine Square. For entertainment and recreation Shoreline Village, Aquarium of the Pacific, Alamitos Beach and the Long Beach Convention and Entertainment Center are nearby.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-23T06:42:48.533. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/122882378
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402 E 1St St Long Beach, CA 90802

  • Price: $3,950,000
  • Status: Active
  • On Site: 85 Days
  • Updated: 11 min ago
  • MLS #: 21-100257
0
Beds
0
Baths
0
½ Baths
0.09
Acres
6,856
SQFT
$576
$/SQFT
1902
Built
Neighborhood:
Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
Downtown Area, Alamitos Beach
Property Description
We are pleased to present 402 East 1st Street in Downtown Long Beach, CA. This mixed-use retail/residential building totals 6,856 square feet of building on a 3,730 square foot signalized corner lot. The two-story property consists of three ground floor retail units and three residential units upstairs. The residential units are: one 2bed/1bath and two 1bed/1bath units. An excellent opportunity to own a trophy asset, with historic charm, at the epicenter of The East Village Arts District and within walking distance of the Long Beach waterfront.402 East 1st Street is located in the heart of The East Arts Village District of Downtown Long Beach. Also known as the Arts District of Long Beach, the East Village is a dynamic place to live, work, eat, play, shop, and appreciate art. The district is the home of the Museum of Latin American Art, an organic farmer s market every Saturday, and many art galleries, cafes, and eclectic shops. The property offers upside in rents due to the high volume of consumer driven foot traffic in Downtown Long Beach. Recently, Long Beach has been experienced a development renaissance with over $4 Billion being invested in new development. Just steps from The Westin Long Beach Hotel, a central hub for the over 6 million visitors and tourists to the Downtown Long Beach area. 402 East 1st Street offers immediate access to a broad selection of world-class dining, entertainment, and shopping destinations easily accessible by walking. Retail centers within walking distance include City Place Shopping Center, The Pike Outlets, The Promenade, and Pine Square. For entertainment and recreation Shoreline Village, Aquarium of the Pacific, Alamitos Beach and the Long Beach Convention and Entertainment Center are nearby.
Exterior Features

Lot Size Area 3730 Other Structures None Parking Garage Other Total Parking 0

Interior Features

Baths Total 0.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 2325000 Gross Income 187572 Gross Operating Income 187572 Like Units1 1 Like Units2 2 Net Operating Income 122968.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 122968 Type Of Units Market Year Built Source Vendor Enhanced Zoning Lbpd30

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-23T06:42:48.533. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210