RealKey
‪(213) 433-7766‬

1500 E 1st Street 3, Long Beach, California 90802, Long Beach, 90802 - bed, bath

1500 E 1st Street 3, Long Beach, California 90802 home-pic-0
ACTIVE UNDER CONTRACT$1,650,050
1500 E 1st Street 3, Long Beach, California 90802
0Bed
0Bath
1Sqft
5,022Lot
Year Built
1906
Close
-
List price
$1.65M
Original List price
$1.74M
Price/Sqft
$1,650,050
HOA
-
Days on market
-
Sold On
-
MLS number
RS25187509
Home ConditionFair
Features
Good View: City Lights
Deck
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $1.65M(82th), sqft - 1(9th), beds - undefined(50th), baths - undefined(50th).

Investors pride of ownership. This stylish 3 unit complex is located minutes from the beach and beautiful downtown Long Beach. All units have been remodeled and features a welcoming, private entrance leading to the units. Upper unit is a 2 bedroom, 1 bath with a spacious living room layout with laundry hook-ups and 2 balcony's to enjoy the view on a nice day. The other two units are a charming and cozy 1 bedroom with 1 bath located on the lower level with nice space between them and no common walls for privacy. Perfect for a tenant or smaller family. There is also a 4th vacant unit that was converted from a storage room to a studio apt with a balcony. Not permitted but the structure was there and then remodeled into a studio. Complex comes with a laundry room for lower units to enjoy without having to leave the premises while also providing additional income to the investor. This is a unique investment opportunity for anyone looking to grow their portfolio. Come and take a look at this outstanding opportunity to own in the heart of Long Beach and in one of the areas most desirable locations.

Nearby schools

6/10
Burbank Elementary School
Public,•K-5•0.7mi
7/10
Stevenson Elementary School
Public,•K-5•0.8mi
6/10
Franklin Classical Middle School
Public,•6-8•0.6mi
6/10
Polytechnic High School
Public,•9-12•1.6mi

Price History

Date
Event
Price
09/22/25
Price Change
$1,650,050-5.0%
09/02/25
Listing
$1,736,000
Condition Rating
Fair
The property, built in 1906, has undergone cosmetic remodels as stated in the description, which is evident in the updated laminate/LVP flooring and fresh paint throughout the units. The kitchens feature newer laminate countertops and double stainless steel sinks, but retain older-style dark cabinets and white appliances, which appear dated. Bathrooms are clean and functional with white or beige square wall tiles and basic vanities, but their style is also outdated. While move-in ready due to recent refreshes, the kitchens and bathrooms do not meet current quality or style standards, indicating that major components are functional but show signs of being outdated. The lack of central AC and the age of the building further contribute to a 'Fair' rating, suggesting a renovation that is more than 15 years old in terms of aesthetic, or a very budget-conscious recent refresh.
Pros & Cons

Pros

Prime Location: The property is ideally situated minutes from the beach and downtown Long Beach, in a highly desirable area known as Alamitos Beach, offering strong rental demand and potential for appreciation.
Income-Generating Asset: As a multi-unit residential income property (triplex with an additional converted studio), it presents a significant opportunity for investors to grow their portfolio and generate consistent rental income.
Remodeled Units: All units have been recently remodeled, reducing immediate capital expenditure for a new owner and enhancing tenant appeal with modern finishes and amenities.
Desirable Unit Features: The upper unit includes laundry hook-ups and two balconies, while the lower units offer privacy with no common walls. A shared laundry room for lower units adds convenience and potential additional income.
City Lights View: The property boasts city lights views, likely from the upper unit's balconies, adding to its aesthetic appeal and potential rental value.

Cons

Unpermitted Unit: The presence of a 4th vacant unit converted from a storage room without permits poses a significant legal and financial risk, potentially requiring costly legalization or removal.
Age of Building: Built in 1906, despite remodels, the property's age suggests potential for underlying infrastructure issues (e.g., plumbing, electrical, foundation) that may require substantial future investment.
Legal Unit Count Discrepancy: The property is listed as a 'Triplex' but described as having a 4th unpermitted unit, creating ambiguity regarding legal occupancy, financing, and insurance.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state