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402 E 1St Street

Long Beach, CA 90802
  • $3,950,000
  • STATUS: Active
  • ON SITE: 35 Days
  • ID#: 21100257
UPDATED: 66 min ago
$3,950,000
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1902
County:

School Ratings & Info

Listing Agent: Filip Niculete of Marcus & Millichap


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 California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/122884557
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402 E 1St Street Long Beach, CA 90802

  • Price: $3,950,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 66 min ago
  • ID#: 21100257
0
Beds
0
Baths
0
½ Baths
0.09
Acres
1902
Built
Neighborhood:
4 - Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
4 - 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

Parking Total 0

Property Features

Association Fee 0 Gross Income 187572 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 122968 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lbpd30



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Filip Niculete of Marcus & Millichap