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  • 1142 E 1St Street

1142 E 1st Street, Long Beach, CA 90802

$3,475,000 Approx. USD 14 beds, 14 baths
8,965 sqft
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Robert Gabhart REALTOR® - Broker Associate 619-980-8561 m
619-980-8561 o
Lic#: 00755789
NRDS ID: 196557316
rgabhart@bhhscal.com Text Me
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Lic#: 00755789
NRDS ID: 196557316
rgabhart@bhhscal.com San Diego Central Office
2355 Northside Drive, Suite 180
San Diego, CA 92108
Phone: 619-294-3113
Fax: 619-521-0100
 San Diego Central 2355 Northside Drive, Suite 180
San Diego, CA 92108
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Fax: 619-521-0100
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Listing Agent


Jonathan Swire | jon@jonswire.com
Lic#: 01336277
Broker: Courtesy of The Agency
Phone: 310-948-2631

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 26853641
Price: $3,475,000
Beds: 14
Baths: 14
Built in 1913
8,965 sqft
2 stories
0.19 acres
Lot size: 0.1888
County: Los Angeles
Zoning: LBR4R
Parking description: Assigned
Heating/cooling: None
Heating description: Wall Furnace
MLS area: 4 - Downtown Area, Alamitos Beach

Last Updated: 7/7/2026

 Days On Market (DOM): 49

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This listing belongs to the 4 - Downtown Area, Alamitos Beach MLS area

Lat/Long: 33.766560, -118.177918.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Robert Gabhart

Robert Gabhart REALTOR® - Broker Associate 619-980-8561 m
619-980-8561 o
Lic#: 00755789
NRDS ID: 196557316
rgabhart@bhhscal.com Text Me
Call My Cell
Call My Office
Lic#: 00755789
NRDS ID: 196557316
rgabhart@bhhscal.com
San Diego Central Office
2355 Northside Drive, Suite 180
San Diego, CA 92108
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