1626 Pine AVE, Long Beach, CA 90813
1626 Pine AVE, Long Beach, CA 90813
1626 Pine AVE, Long Beach, CA 90813
1626 Pine AVE, Long Beach, CA 90813
1626 Pine AVE, Long Beach, CA 90813
1626 Pine AVE, Long Beach, CA 90813
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$ 2,900,000
Est. payment | /mo

7,492 Sqft Lot


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$ 2,900,000
Est. payment | /mo
Save

7,492 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26013773

HOA Y/N No

Year Built 1963

Lot Size 7,492 Sqft

Property Sub-Type Apartment

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

Area 699 - Not Defined

Interior

Heating Radiant

Fireplace No

Laundry Common Area

Exterior

Parking Features Door-Single, Garage Faces Front, Garage, Garage Faces Rear

Garage Spaces 7.0

Garage Description 7.0

Pool None

Community Features Park, Suburban

Total Parking Spaces 7

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7269011003

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. #02035763

Nearby Locations

Juan Ponce

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

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1626 Pine AVE