1106 Pacific Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$3,390,000 USD
925-683-9203
1106 Pacific Ave, Long Beach, CA for Sale
$3,390,000 USD
Apartments - FOR SALE
1/13
null | 5.43% Cap Rate

1106 Pacific Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • All 12 units were remodeled in 2019 with Permits
  • 5.43% Current Cap Rate & 11.95 GRM
  • 6.13% Pro Forma Cap Rate
  • ADU Opportunity - (6) on-site garages can be converted to (3) ADU's (Buyer to Verify)
  • Approx. 10% Upside in Rents
  • Individually Metered for Gas & Electricity

OVERVIEW

Welcome to The Louis – A renovated multifamily asset located in the heart of Long Beach, CA. This well-maintained 12-unit property is comprised of (2) spacious 2-bedroom/1-bath units and (10) 1-bedroom/1-bath units, all of which were extensively remodeled with permits in 2019. Interiors feature modern finishes, and the units remain in excellent condition. That same year, the exterior received a full facelift, including new paint and a refreshed façade, enhancing the building’s curb appeal. The property benefits from a stable tenant base, with approximately 9% rental upside remaining, offering investors immediate cash flow and future growth potential. Additionally, there are (6) on-site garages that present a compelling value-add opportunity: potential conversion into (3) ADUs (Accessory Dwelling Units), subject to Buyer verification. The Louis offers a rare blend of of an updated building, long-term tenancy, and upside in one of Long Beach’s most active rental markets.

FOR SALE DETAILS

PRICE

$3,390,000 USD

PRICE/SF

$413 USD /SF

# OF UNITS

12

PRICE/UNIT

$282,500

CAP RATE

5.43%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Louis

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,761 SF

ZONING

LBR4N

APN/PARCEL ID

7273-005-013

ASK ABOUT THIS PROPERTY

Drew McAllisterNRE CommercialMore Info
925-683-9203

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Drew McAllisterNRE CommercialMore Info
925-683-9203

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