Samimi CRE Advisors
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    1621 E 1st St, Long Beach, CA

    1621 E 1st St, Long Beach — 4-Unit Multifamily Sold $1.675M

    1621 E 1st St, Long BeachClosed July 2026Represented Buyer Representation
    1621 E 1st St — closed by Cameron Samimi

    Price

    $1,675,000

    Units

    4

    $/Unit

    $418,750/unit

    Type

    multifamily

    Deal summary

    1621 E 1st St, Long Beach, CA is a 4-unit multifamily property that sold for $1,675,000 ($418,750/unit) in July 2026. Cameron Samimi of Samimi CRE Advisors represented the Buyer Representation in the transaction.

    The Challenge

    My client wanted a well-located, four-unit Long Beach multifamily building he could hold long term, but the Alamitos Beach corridor near 1st Street rarely produces clean, correctly priced 1–4 unit inventory. Anything listed at a realistic basis was drawing multiple offers, and Long Beach rent control (the city follows AB 1482 statewide caps — always verify the specific property) meant we had to underwrite in-place rents carefully rather than assume quick repositioning.

    What We Did

    I worked the buyer side the way I work my listings: pulling the full Long Beach 1–4 unit comp set, testing the seller's rent roll against achievable market rents on 1st Street, and stress-testing the price per unit against recent Alamitos Beach trades. We built an offer around a defensible $418,750 per unit and $285 per square foot, then kept the escrow tight — clean terms, quick diligence, and direct broker-to-broker communication with the seller's side to keep the deal from re-trading.

    The Result

    The 5,869 SF, four-unit building at 1621 E 1st Street closed on July 24, 2026 at $1,675,000 — $418,750 per unit and $285 per square foot. The buyer, Eliezer Chitrik, acquired a stabilized coastal-adjacent Long Beach asset with real long-term rent upside, and the seller, Aphrodite Boosalis, got a certain close. It is one more Long Beach multifamily transaction in a track record now past 334 closings and $446M+ in volume.

    Verified coverage

    This closing was reported by Traded (July 2026).

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