23
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$2,900,000
Est. payment /mo
6 Beds
4 Baths
7,492 Sqft Lot
Active
1626 Pine Avenue Long Beach, CA 90813
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26013773
Bedrooms 6
Lot Size 7,492 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Renovated and current 6.89% Cap and 9.67 GRM with ADU potential! 1626 Pine Ave, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance. All units are renovated with new floors, appliances, and fixtures. Once all units are rented at market and ADUs are built out, the property will operate at a 7.79% Cap and 8.81 GRM. The property is comprised of (12) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units. 1626 Pine Ave has 10 parking spaces on site and collects $500/month in parking income. Additionally, the property collects $200/month in laundry. Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.
Location
State CA
County Los Angeles
Zoning Assessor
Direction South of PCH HYW & E of Pacific Ave
Interior
Heating Radiant
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7269011003
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
NEARBY SCHOOL & BUSINESS
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