1027-1029 1/2 Pacific Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,700,000 USD
949-942-8959
1027-1029 1/2 Pacific Ave, Long Beach, CA for Sale
$1,700,000 USD
Apartments - FOR SALE
1/5
null | 7.78% Cap Rate

1027-1029 1/2 Pacific Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Over 11% Cash-on-Cash Return
  • Over 7.5% Cap Rate on Current Rents
  • Priced to Sell Quickly at Under $230 Per Foot
  • Central Long Beach Location
  • Garage Parking
  • Individually Metered

OVERVIEW

Skyline Commercial Advisors is pleased to present the opportunity to acquire the Pacific Apartments located in Long Beach. The property is 7+1 units consisting of (4) three bedroom units, (1) two bedroom house, (2) one bedroom units, and (1) non-conforming studio unit. Located in the heart of Long Beach, tenants take advantage of the easy access to the different restaurants and entertainment options available in Alamitos Beach, Shoreline Village, and the Pike Outlets. The Pacific Apartments provides an investor the ability to purchase a high cash flowing asset with little turnover in a strong rental submarket undergoing redevelopment. The Pacific Apartments is available individually or as a package with 10 units at 2015 Cedar Ave in Long Beach. *Please do not disturb tenants or walk on the property.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$228 USD /SF

# OF UNITS

8

PRICE/UNIT

$212,500

CAP RATE

7.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,465 SF

ZONING

-

APN/PARCEL ID

7272-005-017

ASK ABOUT THIS PROPERTY

Ryan PrattSkyline Commercial Real EstateMore Info
949-942-8959

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Ryan PrattSkyline Commercial Real EstateMore Info
949-942-8959

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.