400-404 East 1st Street, Long Beach, CA 90802
400-404 East 1st Street
Price:
Price / SF:
$3,250,000
$459
Year Built:
1902
APN:
7281-025-004
Building Area:
Land Area:
Land/SF
7,078 SF
3,920 SF
$829
Status:
Active
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Coastal High Street – Mixed-Use Investment Opportunity: Value-Add Opportunity Through Repositioning Month-to-Month Leases
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Unit Mix: Ground Floor – 3 Retail Tenants | Second Floor – 3 Apartment Units
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Highly Desirable Downtown Long Beach Location: Known for its Waterfront Attractions, Growing Art District, and Wide Range of Entertainment
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Active Developments Nearby: Multiple New Apartment Buildings Including the Residences at Linden Located One Block Over with 82 Units Being Built
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Dense, Infill and Affluent Location Boasting a Total Population of 382,278 with an Average Household Income of 100, 262 Within a 5-Mile Radius
The Ovaness- Rostamian Group of Marcus and Millichap is pleased to present the Hotel Dartistes, a fully updated historical property built in 1902 featuring three ground level retail tenants and three apartments on the second floor. This offering presents investors with a rare opportunity to own a unique and beautifully maintained piece of Long Beach history. Although the property is currently fully leased and providing steady cash flow, investors also have the opportunity to improve returns with repositioning of month-to-month tenancies.
Situated between 1st St. and Elm Ave., this property sits on a prime corner in an exceptionally walkable area. The bottom floor retail spaces have maintained long term historical occupancy and the upstairs apartments have been updated with modern comforts. Diverse tenants currently occupy the property including Crème de la Crepe with a large outdoor patio space facing the north. Other tenants include Phancy Nails and Spa facing the north and Mail Plus facing east. The property comprises of approximately 6,856 square feet of building on a 3,730 square foot lot. Buyers are advised to conduct their own due diligence to verify square footage.
This generational opportunity represents a significant investment in booming Downtown Long Beach. Its potential growth, unparalleled location, and ease of ownership make it an attractive prospect for investors looking to own a true piece of Long Beach history while achieving a favorable return. The location benefits from being less than a mile from Long Beach’s newly finished Civic Center at the heart of downtown. The property benefits from a dense and affluent demographic boasting a total population of 382,278 with an average household income of 100,262 within a 5-mile radius.
For details regarding the buyer qualification process, property tours, and offer submission deadlines, we encourage prospective buyers to contact our listing agents. In accordance with ownership request, please coordinate property tours with our experienced team to ensure the current tenants are not disturbed.