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Mixed-Use

402 East 1st St

402 E 1st St, Long Beach, CA 90802

Listing Price: $3,950,000

Cap Rate
3.11%
Number of Units
3
Occupancy
100.0%
Price/Unit
$1,316,667
Price/Gross SF
$576.14
Gross SF
6,856

Investment Overview

The LAAA Team and Floyd Group of Marcus & Millichap 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.

Investment Highlights

  • Built in 1902 w/ Renovations
  • 3 Retail & 3 Residential Units
  • Walkable to Alamitos Beach
  • Walkable to Convention Center
  • Huge Value Add Potential
  • Prime Downtown Long Beach
  • Walk Score of 97

Exclusively Listed By

Financing By

Mixed-Use

402 East 1st St

Listing Price: $3,950,000

Cap Rate
3.11%
Number of Units
3
Occupancy
100.0%
Price/Unit
$1,316,667
Price/Gross SF
$576.14
Gross SF
6,856

Investment Highlights

  • Built in 1902 w/ Renovations
  • 3 Retail & 3 Residential Units
  • Walkable to Alamitos Beach
  • Walkable to Convention Center
  • Huge Value Add Potential
  • Prime Downtown Long Beach
  • Walk Score of 97

Investment Overview

The LAAA Team and Floyd Group of Marcus & Millichap 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.

Exclusively Listed By

Financing By

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