1952 Pine Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$1,565,000 USD
310-982-7055
1952 Pine Ave, Long Beach, CA for Sale
$1,565,000 USD
Apartments - FOR SALE
1/12
null | 7.17% Cap Rate

1952 Pine Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate
  • Located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway
  • Available for sale with neighboring property, 1958 Pine.

OVERVIEW

Priced to sell! This well-performing 8-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 386 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate. There is a courtyard in the middle of the property for tenant enjoyment. This property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1958 Pine. Offering memorandum in supplemental materials.

FOR SALE DETAILS

PRICE

$1,565,000 USD

PRICE/SF

$332 USD /SF

# OF UNITS

8

PRICE/UNIT

$195,625

CAP RATE

7.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,742 SF

ZONING

R4R, Long Beach

APN/PARCEL ID

7209-017-012

ASK ABOUT THIS PROPERTY

Malcolm ZegerBuckingham InvestmentsMore Info
310-982-7055

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Malcolm ZegerBuckingham InvestmentsMore Info
310-982-7055

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