Est. cap rate

2.3%

Assumed rent, all units

$6,160/mo

Units

2

Price per unit

$797,500

Est. annual NOI

$36,960

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

Duplex

Bedrooms

4

Bathrooms

4

Building size

3,284 sqft

Lot size

4,418 sqft

Year built

1926

Stories

3

Garage spaces

2

Heating

Central

Cooling

Wall/Window Unit(s)

Pool

None

View

Neighborhood

Status

Active

Days on market

54

MLS #

246466487

About this property

Seller-funded rate buydown available! Reach out for more information! Pride of Ownership Spanish Duplex – Two Homes in One, Fully Rebuilt from the Inside Out. Both to be delivered vacant. Rare opportunity in the heart of Long Beach’s East Village / Downtown beach community: This 3,284 sqft Duplex is comprised of two nearly identical ~1,600 sq ft residences (ground-floor + second-floor) that live and feel like two separate single-family homes. The previous owner completed a no-expense-spared full gut remodel for himself and his mother — new wiring, new electric panels, new roof, plumbing, and ducting throughout. Central A/C can be added easily to the existing central heat. Every surface was upgraded while preserving original Spanish character: arched picture windows, coved ceilings, pristine hardwood floors, custom cabinetry, recessed lighting, and a whole-house speaker system. Each unit currently offers 2 bedrooms + 2 baths plus a large formal dining room off the entry that converts easily to a third bedroom (creating two 3-bed/2-bath rentals). Layout consists of a primary suite with en-suite bath, second bedroom, hall bath, dining room (that can be your 3rd bedroom) oversized living room with built-ins, and eat-in kitchen with granite counters, island, stainless appliances, and abundant storage. The upstairs unit adds a fireplace, private balcony, and convenient third-floor laundry room (side-by-side washer/dryer + sink) with roof access — ideal for future rooftop entertaining or build-out. Separate utilities already in place: two 50-gallon water heaters, two gas meters, two water meters (second city-side service installed and ready to connect to the other unit or future ADU), and three electric meters (one dedicated to exterior lighting). Huge additional upside with ADU potential above the large 2-car garage in back. Off-street parking is a major plus: automatic security gate, long driveway for extra vehicles, 2-car garage plus additional space for motorcycles, EV 240v plug installed, toys, or workshop. Private backyard patio with exterior flood lighting and string lights for outdoor living. Live in one and rent the other, occupy both with extended family, or convert to high-demand 3-bed rentals. Just one block from the beach and a short walk to the energy of East Village, shops, restaurants, and the Downtown Long Beach waterfront. This is turn-key, like-new construction wrapped in authentic 1920s Spanish charm!

Location

1131 E 2nd

Long Beach, Los Angeles, CA, 90802