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So Cal DWELL

lorette@socaldwell.com +1(562) 397-1735

$ 3,700,000

Est. payment | -/mo

7,505 Sqft Lot

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$ 3,700,000

Est. payment | -/mo

Save

7,505 Sqft Lot

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW26228231

HOA Y/N No

Year Built 1961

Lot Size 7,505 Sqft

Property Sub-Type Mixed Use

Property Description

1809 E. Appleton Street, known as The Lumina, is an 11-unit multifamily property located in the highly desirable Alamitos Beach neighborhood of Long Beach. Situated within one of the city's most established coastal rental markets, the property benefits from proximity to the Pacific Ocean, a highly walkable urban setting, and an extensive concentration of dining, retail, and entertainment amenities that continue to attract a broad base of renters. Built in 1961, the property features a desirable unit mix of ten (10) spacious 1BD/1BA residences averaging approximately 825 square feet and one (1) 2BD/2BA residence measuring approximately 998 square feet. The generous floor plans, abundant natural light, and functional layouts provide a competitive advantage over smaller vintage apartments commonly found throughout the surrounding coastal neighborhoods. The property has benefited from approximately $175,000 in recent capital improvements, including roof system restoration, extensive exterior refinishing and painting, front-facing window replacements, upgraded exterior lighting, landscaping enhancements, and general building repairs. Interior improvements to two units further complement the property's refreshed appearance. Collectively, these investments enhance the asset's marketability and reduce certain near-term capital expenditure requirements for a new owner. The Lumina offers additional income growth potential through its existing rental operations. Current one-bedroom rents average approximately $1,997 per month, compared with $2,350 per month for nearby rental comparables, indicating approximately 18% potential rental upside. Investors may benefit from gradual rent growth through natural turnover and strategic leasing, subject to applicable rent regulations. On-site laundry and six (6) garages provide supplemental income, while the garage configuration presents a potential longer-term ADU conversion opportunity, subject to feasibility and municipal approvals. Alamitos Beach remains a desirable Long Beach rental
submarket, distinguished by its coastal location, pedestrian- oriented environment, and established residential character. With
a 94 Walk Score and 89 Bike Score, the neighborhood offers convenient access to beaches, neighborhood retail, restaurants, and recreational amenities. Its combination of lifestyle appeal and limited opportunities for new multifamily development supports the property's long-term competitive positioning.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7275019017

Energy Description 2242.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

Nearby Locations

So Cal DWELL

Broker License ID: 01271840

+1(562) 397-1735 | lorette@socaldwell.com

1809 E Appleton Long Beach, CA 90802

So Cal DWELL

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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1809 E Appleton