1121 Pacific Ave - Multi-Family FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$3,249,000 USD
714-299-6746
1121 Pacific Ave, Long Beach, CA for Sale
$3,249,000 USD
Multi-Family - FOR SALE
1/10
null | 5.32% Cap Rate

1121 Pacific Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Two Adjacent Parcels for Sale (5 Units + 2 Units)
  • PD-30 High Denisty Zoning
  • Opportunity Zone
  • Endless Opportunities
  • Each Parcel can be Sold Separately, or Together

OVERVIEW

This exceptional investment opportunity is located within an Opportunity Zone and benefits from highly flexible PD-30 zoning, allowing for a potential redevelopment of 45–90 units or the immediate addition of up to 8 ADUs. The property features a rare and desirable unit mix consisting of five large 3-bedroom / 1-bath units, one 1-bedroom / 1-bath unit, and one studio. It has been extensively renovated with approximately $500,000 in capital improvements and offers a private, garden-style layout with a secure gated entry. Tenant amenities include air conditioning, in-unit washer/dryer hookups in most units, and high-end designer finishes. Parking is abundant, with eight garages, one private driveway space, and fourteen open parking spaces. Located less than one mile from the beach and just minutes from Downtown Long Beach, the property combines strong rental appeal with significant future development potential. It is not subject to local rent control, falling only under statewide AB 1482 regulations.

FOR SALE DETAILS

PRICE

$3,249,000 USD

PRICE/SF

$513 USD /SF

# OF UNITS

7

PRICE/UNIT

$464,143

CAP RATE

5.32%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Units (5U Parcel + 2U Parcel) PD-30 Zoning

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1907

PARKING SPACES

21

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

7272-005-010

ASK ABOUT THIS PROPERTY

Michael BourasStream Realty Partners, LPMore Info
714-299-6746

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Michael BourasStream Realty Partners, LPMore Info
714-299-6746

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