Address
1820 E 2nd, Long Beach, CA
Price
$ 5,150,000
Property Attributes
- MLS#PW26035100
- TypeSingle Family
- Listing Status Active
- CountyLos Angeles
- CityLong Beach
- Area Downtown Area, Alamitos Beach
- NeighborhoodAlamitos Beach (AB)
- Zip90802
- Style
- Year Built2025
- Price$ 5,150,000
- Bedrooms0
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage8130
- Lot Size0.1899 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
Price Improvement! Now Offered at $5,150,000. Introducing Millie Jean — a completely reimagined 12-unit apartment community located at 1820 E. 2nd Street in the heart of Alamitos Beach, one of Long Beach’s most desirable coastal neighborhoods. This turn-key asset has undergone a full, permitted renovation down to the studs, delivering essentially new construction with high-end finishes and modern systems throughout. 100% leased and operating at a 5.35% CAP rate and 13.25 GRM, the property offers immediate cash flow. RUBS is in place, with tenants responsible for their proportionate share of utilities—reducing operating expenses, improving NOI, and protecting ownership from rising utility costs. The offering includes five single-car garages and fully approved plans to construct two new 2-bedroom, 1-bath ADU units above the garages, providing a clear value-add opportunity. Upon completion of the ADUs, ownership can achieve an estimated 6.68% CAP rate. All units feature high-end interior renovations, including modern kitchens with European-style cabinetry, quartz countertops, Energy Star stainless steel appliances, designer lighting, and contemporary fixtures. Bathrooms have been fully upgraded with modern enclosures, plank flooring, and code-compliant mechanical improvements. Each unit includes in-unit washer/dryer, plank vinyl flooring, new doors and windows, ceiling fans, and fresh paint—creating a cohesive, upscale aesthetic throughout. Major capital improvements include new plumbing (water lines, waste lines, water heaters), upgraded electrical systems with subpanels and GFCI outlets, HVAC and ventilation improvements, and drought-tolerant landscaping. The building is separately metered for gas and electric, with high-efficiency lighting to minimize operating expenses. Additionally, a new owner can unlock substantial tax advantages through a cost segregation study, with an estimated $1,379,000 in depreciation within the first five years, compared to approximately $722,590 under standard depreciation—representing an incremental benefit of roughly $660,000. Located just two blocks from the beach, Millie Jean offers residents immediate access to the coastline while enjoying the walkability, lifestyle, and long-term desirability of Alamitos Beach. This is a rare opportunity to acquire a fully modernized, high-performing asset in a premier coastal submarket with strong in-place income and meaningful upside.
| Price History | |
|---|---|
| 2/17/2026 | Listed $5,299,000 |
| 5/4/2026 | 3$5,150,000 |
General Features
| Sewer | PublicSewer |
|---|---|
| Cooling | None |
| Garage Spaces | 5 |
| Pool Features | None |
| Year Built | 2025 |
| Stories Count | 2 |
| Levels | Two |
| Property Subtype | Apartment |
| Gross Income | 32185 |
| Community Features | Sidewalks |
| County | Los Angeles |
| Net Operating Income | 386220 |
| New Construction | false |
| Property Type | ResidentialIncome |
| Subdivision Name | Alamitos Beach (AB) |
| Garage Y/N | true |
| Special Listing Conditions | Standard |
| Status | Active |
| Directions | Between Hermosa Ave. and Cherry Ave. on 2nd Street |
| City | Long Beach |
| Entry Location | 1 |
| Senior Community Y/N | false |
| Number Of Units Total | 12 |
| MLS Area | 4 - Downtown Area, Alamitos Beach |
| Lot Size Units | SquareFeet |
| Lot Size Square Feet | 8273 |
| Number of Units Leased | 12 |
| Listing Terms | Cash,CashToNewLoan |
| Property Attached Y/N | true |
| Land Lease Y/N | false |
| Additional Parcels Y/N | false |
| Rent Control Y/N | false |
| Building Area Units | SquareFeet |
| Standard Status | Active |
| Year Built Source | Owner |
| Tax Lot | 3 |
| Total Actual Rent | 31605 |
| Property Sub Type Additional | Apartment |
| PostalCity | LONG BEACH |
Interior Features
| Fireplace Features | None |
|---|---|
| Total Stories | 2 |
| Common Walls | TwoCommonWallsOrMore |
| Air Conditioning Y/N | false |
| Fireplace Y/N | false |
| Laundry Features | Inside,SeeRemarks |
| Entry Level | 1 |
Exterior Features
| Lot Features | RectangularLot |
|---|---|
| Water Source | Public |
| Total Parking | 5 |
| Lot Size Area | 8273 |
| Number of Buildings | 2 |
| Building Area Total | 8130 |
| Lot Size Acres | 0.1899 |
| Private Pool | false |
| Lot Size Source | Assessor |
| Number of Separate Water Meters | 1 |
| Number of Separate Gas Meters | 12 |
| Number of Separate Electric Meters | 13 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 90802
Price
Year Built
In The Neighborhood
Open House
Long Beach
$ 974,555
1028 E 10th
Long Beach, CA 90813
- Type
- Single Family
- Size
- 1,200 SqFt
- Rooms
- 3 Beds + 2 Baths
Primary On Main
Long Beach
$ 1,395,000
531 W 5th Street
Long Beach, CA 90802
- Type
- Single Family
- Size
- 3,344 SqFt
- Rooms
- 3 Beds + 1 Baths
Long Beach
$ 499,000
1174 E 9th Street
Long Beach, CA 90813
- Type
- Single Family
- Size
- 744 SqFt
- Rooms
- 2 Beds + 1 Baths
Long Beach
$ 290,000
947 E Broadway 2
Long Beach, CA 90802
- Type
- Single Family
- Size
- 582 SqFt
- Rooms
- 1 Beds + 1 Baths
Reduced
Long Beach
$ 799,000
724 Elm Avenue
Long Beach, CA 90813
- Type
- Single Family
- Size
- 1,816 SqFt
- Rooms
- 5 Beds + 2 Baths
Reduced
Long Beach
$ 405,000
1036 E 2nd Street 11
Long Beach, CA 90802
- Type
- Single Family
- Size
- 722 SqFt
- Rooms
- 1 Beds + 1 Baths
Based on information from California Regional Multiple Listing Service, Inc. as of September 12, 2026 6:48 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Based on information from CRISNet MLS as of September 12, 2026 6:37 PM UTC All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
The MLS™ Combined LA/Westside MLS® (CLAW): All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. Copyright ©2017 All rights reserved.
