Turnkey Triplex Prime Alamitos Beach 1317 E 1st St 3 Unit Apartment Building $2,895,774 CAD ($965,258 CAD/Unit) 4.16% Cap Rate Long Beach, CA 90802

Turnkey Coastal Investment with Strong In-Place Income
1317 E. 1st Street presents a rare opportunity to acquire a fully renovated triplex in the heart of Alamitos Beach with a unique combination of residential quality, strong in-place income, exceptional parking and owner-occupancy potential.
Complete Rebuild with Approximately $375,000 in Capital Improvements
The property has undergone an extensive renovation program totaling ~$375,000, including the complete rebuild of all three residential units. The improvements have created modern, highly competitive residences while substantially reducing the deferred maintenance and near-term capital expenditure. Situated on an 8,263-square-foot lot, the property consists of three separate residences totaling 2,367 square feet: (1) spacious 1,300-square-foot 3BD/2BA main residence; (1) 650-square-foot
1BD/1BA unit; and (1) 417-square-foot studio.
Exceptional Parking in a Parking-Constrained Neighborhood
A significant competitive advantage is the property's eight off-street parking spaces, including five alley-access garages and three driveway spaces—an exceptional amenity in highly parking-impacted Alamitos Beach. In addition to enhancing tenant appeal and marketability, the five garages provide a meaningful ancillary income stream with additional upside potential. The combination of extensive parking and garage income differentiates the property from competing coastal rental properties while providing an additional source of revenue beyond residential rents.
Compelling Owner-Occupant Opportunity
The property's full-sized 3BD/2BA main residence creates a compelling opportunity for an owner-occupant seeking the lifestyle and privacy of a traditional home while benefiting from supplemental rental income. Thoughtfully remodeled with owner occupancy in mind, the front residence offers 1,300 square feet of living space, generous common areas, and ample parking. A separate basement provides valuable additional storage. Meanwhile, the two additional residences and five private garages provide multiple income streams that can help offset mortgage and operating costs. This combination of residential comfort, privacy, parking and income potential is particularly difficult to replicate in a prime coastal neighborhood.
Prime Alamitos Beach Location with Premium Rental Fundamentals
Located in the heart of Alamitos Beach, the property benefits from immediate access to the beach and bike paths, Downtown Long Beach, and an extensive collection of neighborhood dining, retail and entertainment amenities. With a 94 Walk Score, the neighborhood offers the highly walkable, beach-oriented lifestyle that continues to drive renter demand and premium rents.
Alamitos Beach rents average approximately 21% higher on a per-square-foot basis than the rest of Long Beach, further supporting the long-term value of owning a substantially renovated asset in this supply-constrained coastal submarket.
With its fully rebuilt residences, strong existing income, five income-producing garages, exceptional parking and prime Alamitos Beach location, 1317 E. 1st Street offers a distinctive combination of immediate utility and long-term investment value—whether acquired as a turnkey income property or as a coastal residence with substantial supplemental income.