939 Pacific Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$3,000,000 USD
714-655-0098
939 Pacific Ave, Long Beach, CA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/17
null | 5.5% Cap Rate

939 Pacific Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Interior Improvements: quartz countertops, shaker cabinets, stainless steel appliances, recessed lighting, ceramic tile, HVAC
  • Exterior Improvements: Dual-pane windows, garage doors w/ openers, fencing, drought-tolerant landscaping, main electrical panel
  • Courtyard Ammenities: Dedicated gas line to stainless steel BBQ and community bike rack
  • Six (6) garages: Two (2) delivered vacant potential to lease or convert to ADU (buyer to verify)
  • Coin operated laundry room and an unused storage room

OVERVIEW

The Van Vuuren Investment Group of Lyon Stahl & The Realestate Group are pleased to present 939 Pacific Avenue, a fully renovated thirteen-unit apartment complex located just outside the historic Drake Park/Willmore City neighborhood in Downtown Long Beach. Situated less than a block from the K-9 Corner Dog Park and a short bike ride to The Promenade and City Place Shopping Center, this property benefits from the continued revitalization of the Downtown Long Beach corridor. Tenants enjoy walkable access to retail, dining, entertainment, and major employment centers, along with excellent transit connectivity and a Walk Score of 93. The property consists of thirteen (13) spacious 1-bedroom/1-bathroom units, each averaging approximately 600 square feet. All units were fully remodeled by the previous owner in 2018–2019 with high-end finishes including quartz countertops, real wood shaker cabinetry, recessed lighting, stainless steel appliances, ceramic tile in wet areas, and new flooring. Exterior improvements during the same period included new dual-pane vinyl windows, fencing and gates, drought-tolerant landscaping, garage doors with openers, upgraded lighting, and a permitted outdoor BBQ area. In 2023, the current owner repaired or replaced all HVAC units as needed and upgraded the main electrical panel—demonstrating pride of ownership and a commitment to ongoing maintenance. Additional features include a coin-operated laundry room that generates supplemental income and a storage room that is currently unused, offering potential for added income or repurposing. The property also includes six (6) on-site garages, two of which are currently vacant and may be rented for additional income or potentially converted to ADUs (buyer to verify). One unit is currently vacant, offering immediate upside through lease-up at market rent. Priced at a 5.5% cap rate with over 11% rental upside, 939 Pacific Avenue offers investors a well-maintained, turn-key asset in one of Long Beach’s most supply-constrained and appreciating coastal submarkets.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$383 USD /SF

# OF UNITS

13

PRICE/UNIT

$230,769

CAP RATE

5.5%

% 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

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,505 SF

ZONING

LBCO

APN/PARCEL ID

7272-012-009

ASK ABOUT THIS PROPERTY

Chris van VuurenLyon Stahl Investment Real EstateMore Info
714-655-0098

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Chris van VuurenLyon Stahl Investment Real EstateMore Info
714-655-0098

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