{"id":2615686,"date":"2026-05-04T19:08:49","date_gmt":"2026-05-04T19:08:49","guid":{"rendered":"https:\/\/casabellausa.com\/property\/1153115862-2\/"},"modified":"2026-09-09T17:05:59","modified_gmt":"2026-09-09T17:05:59","slug":"1820-e-2nd-long-beach-ca-90802","status":"publish","type":"property","link":"https:\/\/casabellausa.com\/es\/property\/1820-e-2nd-long-beach-ca-90802\/","title":{"rendered":"1820 E 2nd, Long Beach, CA 90802"},"content":{"rendered":"<p>Price Improvement! Now Offered at $5,150,000.<\/p>\n<p>Introducing Millie Jean \u2014 a completely reimagined 12-unit apartment community located at 1820 E. 2nd Street in the heart of Alamitos Beach, one of Long Beach\u2019s 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.<\/p>\n<p>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\u2014reducing operating expenses, improving NOI, and protecting ownership from rising utility costs.<\/p>\n<p>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.<\/p>\n<p>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\u2014creating a cohesive, upscale aesthetic throughout.<\/p>\n<p>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.<\/p>\n<p>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\u2014representing an incremental benefit of roughly $660,000.<\/p>\n<p>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.<\/p>","protected":false},"excerpt":{"rendered":"<p>Price Improvement! Now Offered at $5,150,000. Introducing Millie Jean \u2014 a completely reimagined 12-unit apartment community located at 1820 E. 2nd Street in the heart of Alamitos Beach, one of Long Beach\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4472229,"parent":0,"menu_order":0,"template":"","property_type":[74],"property_status":[1034],"property_feature":[99,107],"property_label":[85],"property_country":[],"property_state":[103],"property_city":[350],"property_area":[424],"class_list":["post-2615686","property","type-property","status-publish","has-post-thumbnail","hentry","property_type-apartment","property_status-residential-income","property_feature-has-garage","property_feature-property-attached","property_label-active","property_state-los-angeles","property_city-long-beach","property_area-alamitos-beach-ab"],"property_meta":{"ListingKey":["1153115862"],"MLSimport_item_inserted":["94072"],"mlsImportItemStatusDelete":["a:11:{i:0;s:6:\"Active\";i:1;s:19:\"ActiveUnderContract\";i:2;s:8:\"Canceled\";i:3;s:6:\"Closed\";i:4;s:10:\"ComingSoon\";i:5;s:6:\"Delete\";i:6;s:7:\"Expired\";i:7;s:4:\"Hold\";i:8;s:10:\"Incomplete\";i:9;s:7:\"Pending\";i:10;s:9:\"Withdrawn\";}"],"fave_property_land_postfix":["Square 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Attached\"]<\/br>Updated Meta fave_property_land_postfix with meta_value SquareFeet<\/br>Updated Meta fave_property_garage with meta_value 5<\/br>Updated Meta fave_property_year with meta_value 2025<\/br>Updated Meta fave_property_address with meta_value 2nd<\/br>Updated Meta fave_property_price with meta_value 5150000<\/br>Updated Meta fave_property_land with meta_value 0.1899<\/br>Updated Meta fave_property_country with meta_value US<\/br>Updated Meta fave_property_zip with meta_value 90802<\/br>Updated Meta fave_property_map_address with meta_value 1820 E 2nd<\/br>Updated Meta houzez_geolocation_long with meta_value -118.169312<\/br>Updated Meta houzez_geolocation_lat with meta_value 33.76653<\/br>Updated Meta fave_property_id with meta_value PW26035100<\/br>Update Coordinates Meta (having houzez_geolocation_long ) with 33.76653,-118.169312<\/br>Property with ID 2615686 Updated CUSTOM post meta fave_contact-mail original ListAgentEmail with value spabst@pabstkinney.com<\/br>Property 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