Property listed by Keller Williams Realty Downey, Robert Stepp 310-463-2916

$2,100,000

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. The property has undergone an extensive renovation program totaling ~$375,000, including the complete rebuild of… Read More 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. 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. 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. 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. Read Less

Listing Snapshot

Days Online

Last Updated

Oct 7, 2026

Property Type

Triplex

Lot Size

0.19 Acres

Year Built

1902

MLS Number

PW26186315

Additional Details

Building

Built in 1902, 3 buildings, 1 storey, Entry level: 1, Entry location: 1

Community

Sidewalks

Expenses

Electric: $900, Fuel: $900, Gardener: $1,200, Insurance: $3,022, Maintenance: $1,500, Operating: $45,628, Pest Control: $240, Trash: $900, Water/Sewer: $900, Other Expense: $250

Garage

5 spaces

Heating

Central

Income

Gross Income: $132,929, Gross ScheduledIncome: $137,040, Net Operating Income: $87,300

Laundry

CommonArea, Inside

Lot

0.1897 acres, TwoToFiveUnitsAcre

Parking

3 open parking spaces, 8 total parking spaces

Pool

None

Sewer

PublicSewer

Taxes

Additional parcels description:, Parcel Number: 7265012019, Tax Block: 64, Lot: 17

Utilities

Water Source: Public, 3 separate electric meters, 3 separate gas meters

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1317 E 1st

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