1883 Pine Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,095,000 USD
310-982-7055
1883 Pine Ave, Long Beach, CA for Sale
$2,095,000 USD
Apartments - FOR SALE
1/34
null | 6.2% Cap Rate

1883 Pine Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • 2 Brand New ADUs and all units updated.

OVERVIEW

South Wrigley 8-Unit Turnkey Multifamily Property Built in 1979 with two new ADUs added in 2025, this stabilized, meticulously maintained 8-unit property in the desirable South Wrigley neighborhood offers a rare investment opportunity. The building features (4) updated 2-bedroom units (2) updated 1-bedroom units and (2) modern 2-bedroom ADUs, all in excellent condition. The main building’s units have been fully renovated with new cabinetry, countertops, ceramic tile and laminate flooring, appliances, electrical, plumbing, finish carpentry, hardware, interior/exterior doors, windows, and fresh paint inside and out. The 2025-built all-electric, separately metered ADUs include in-unit laundry and dedicated split-unit air conditioners for added tenant comfort. Six rear garages were converted into the ADUs, with (4) parking spaces retained behind the building. The property also boasts a 2024-installed roof, upgraded block wall/fencing, and a new parking gate, all completed with permits. The main building units are also separately metered for gas and electricity. Priced attractively at a sub-10.5X GRM and a 6.2% cap rate, this turnkey property is located on a charming, tree-lined residential street with head-in parking. It’s less than a mile from the 710 Freeway, under 2 miles from the 405, and just 2 miles north of the beach, offering unmatched convenience and appeal.

FOR SALE DETAILS

PRICE

$2,095,000 USD

PRICE/SF

$585 USD /SF

# OF UNITS

8

PRICE/UNIT

$261,875

CAP RATE

6.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,747 SF

ZONING

R4R

APN/PARCEL ID

7209-021-002

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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