Est. cap rate

3.2%

Assumed rent, all units

$9,120/mo

Units

3

Price per unit

$565,000

Est. annual NOI

$54,720

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Triplex

Bedrooms

3

Building size

2,871 sqft

Lot size

4,508 sqft

Year built

1922

Stories

2

Garage spaces

3

Heating

Central

Cooling

None

Pool

None

View

Ocean

Status

Active

Days on market

122

MLS #

243589562

About this property

Exceptional Bluff Park Historic District Triplex situated on a prominent corner lot at E. 1st Street and Redondo Avenue, just one block from the beach and neighborhood amenities. This unique property features three well-maintained units across two separate buildings, offering an attractive blend of historic character, functionality, and long-term investment potential. The Upstairs unit at 3366 E. 1st Street is currently Vacant and consists of a spacious 2-bedroom, 1-bath unit featuring updated luxury vinyl flooring, abundant natural light, charming built-in cabinetry, a dedicated office/flex space, private balcony, and partial ocean views from the living and dining areas. The second unit, 29 Redondo Avenue, offers 2 bedrooms and 1 bath with original hardwood flooring, an updated kitchen with modern cabinetry, and classic architectural details that reflect the property’s timeless character. Completing the property is 27 Redondo Avenue, a detached 1-bedroom, 1-bath unit situated above the garages, featuring hardwood flooring in the living area, newer windows, an updated kitchen with modern cabinetry, and excellent privacy. The property includes three individual garage spaces, separate gas and electric meters, shared laundry facilities, mature landscaping, and attractive curb appeal. All three units feature updated kitchens and cabinetry throughout, providing modern convenience while preserving the charm and character that make this coastal Long Beach property so desirable. Ideally located within the Bluff Park Historic District, residents enjoy close proximity to the beach, Bluff Park, Belmont Shore, Retro Row, dining, shopping, entertainment, and the vibrant Long Beach coastline. Whether for an investor seeking a well-located income property or an owner-user looking to offset housing costs with rental income, this rare Bluff Park offering presents a compelling opportunity.

Location

3366 E 1st

Long Beach, Los Angeles, CA, 90803