1820 E 2nd
Long Beach, CA 90802
Listing broker / agent: Pabst, Kinney & Associates · Spencer Pabst · 562-884-6875 · CRMLS
MLS # PW26035100 · Last checked Oct 20, 2026 18:15 UTC
About this property
One of the finest buildings in Long Beach! Now Offered at $5,095,000 with Seller Financing Considered. Introducing Millie Jean, a completely reimagined 12-unit apartment community located at 1820 E. 2nd Street in the heart of Alamitos Beach, one of Long Beach’s most desirable coastal neighborhoods. This turn-key asset has undergone a full, permitted renovation, delivering essentially new construction with high-end finishes and modern systems throughout. 100% leased and operating at a 5.52% CAP rate and 12.92 GRM, the property offers immediate cash flow. RUBS is in place, with tenants responsible for their proportionate share of utilities—reducing operating expenses, improving NOI, and protecting ownership from rising utility costs. 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 6.82% CAP rate. 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—creating a cohesive, upscale aesthetic throughout. Major capital improvements include new plumbing (water lines, waste lines, water heaters), upgraded electrical systems with subpanels, 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. Additionally, a new owner can unlock substantial tax advantages through a cost segregation, with an estimated $1,379,000 in depreciation within the first five years, compared to approximately $722,590 under standard depreciation—representing an incremental benefit of roughly $660,000. 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.
Property details
- MLS number
- PW26035100
- Status
- Active
- Type
- Residential Income
- Subtype
- Apartment
- Lot size
- 0.1899 acres
- County
- Los Angeles
- Year built
- 2025
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 172
Building
- Year built
- 2025
- Year built source
- Owner
- Stories
- 2
- Building stories
- 2
- Levels
- Two
- Entry level
- 1
Rooms & interior
- Cooling
- None
- Fireplace
- None
- Laundry
- Inside, See Remarks
Exterior & parking
- Total parking spaces
- 5
- Garage spaces
- 5
- Pool
- None
- Lot features
- Rectangular Lot
- Lot size source
- Assessor
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Community features
- Sidewalks
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Burbank Elementary Long Beach Unified · Long Beach | K–5 | 0.5 mi |
| Franklin Classical Middle Long Beach Unified · Long Beach | 6–8 | 0.7 mi |
| Mann Elementary Long Beach Unified · Long Beach | K–5 | 0.9 mi |
| Stevenson Elementary Long Beach Unified · Long Beach | K–5 | 1.0 mi |
| Lincoln Elementary Long Beach Unified · Long Beach | K–5 | 1.1 mi |
| Willard Elementary Long Beach Unified · Long Beach | K–5 | 1.2 mi |
| Jefferson Leadership Academies Long Beach Unified · Long Beach | 6–8 | 1.4 mi |
| Jenny Oropeza Elementary Long Beach Unified · Long Beach | K–5 | 1.4 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $5,095,000
- MLS-reported original asking price
- $5,299,000
- MLS-reported previous asking price
- $5,150,000
- MLS-reported last price change
- 2026-09-16 10:21 UTC
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 08:41 | $5,095,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Long Beach
Active residential homes for sale in Long Beach, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
111 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-20 18:17 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
Explore a fixed-rate loan scenario. The price comes from this listing; a 20% down payment and 30-year term are starting assumptions, not requirements. Enter your own interest rate—not APR—and estimated costs.
Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗