Price Improvement! Now Offered at $5,150,000. 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 down to the studs, delivering essentially new construction with high-end finishes and modern systems throughout. 100% leased and operating at a 5.35% CAP rate and 13.25 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 6.68% 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 and GFCI outlets, 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 study, 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.