1958 Pine Ave - Apartments FOR SALE


Long Beach, CA 90806- Wrigley
$2,030,000 USD
310-982-7055
1958 Pine Ave, Long Beach, CA for Sale
$2,030,000 USD
Apartments - FOR SALE
1/15
null | 7.27% Cap Rate

1958 Pine Ave
Long Beach, CA 90806
Wrigley


HIGHLIGHTS

  • Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate
  • New electrical meters and main
  • This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway

OVERVIEW

Priced to sell! This well-performing 10-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 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built 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, 1952 Pine.

FOR SALE DETAILS

PRICE

$2,030,000 USD

PRICE/SF

$328 USD /SF

# OF UNITS

10

PRICE/UNIT

$203,000

CAP RATE

7.27%

% 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

1953

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,742 SF

ZONING

LBR4R

APN/PARCEL ID

7209-017-010

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.