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1027-1029 1/2 Pacific Ave 8 Unit Apartment Building $1,700,000 ($212,500/Unit) 7.78% Cap Rate Long Beach, CA 90813
Investment Highlights
- Over 11% Cash-on-Cash Return
- Priced to Sell Quickly at Under $230 Per Foot
- Garage Parking
- Over 7.5% Cap Rate on Current Rents
- Central Long Beach Location
- Individually Metered
Executive Summary
Skyline Commercial Advisors is pleased to present the opportunity to acquire the Pacific Apartments located in Long Beach. The property is 7+1 units consisting of (4) three bedroom units, (1) two bedroom house, (2) one bedroom units, and (1) non-conforming studio unit. Located in the heart of Long Beach, tenants take advantage of the easy access to the different restaurants and entertainment options available in Alamitos Beach, Shoreline Village, and the Pike Outlets. The Pacific Apartments provides an investor the ability to purchase a high cash flowing asset with little turnover in a strong rental submarket undergoing redevelopment. The Pacific Apartments is available individually or as a package with 10 units at 2015 Cedar Ave in Long Beach.
*Please do not disturb tenants or walk on the property.
*Please do not disturb tenants or walk on the property.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $212,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.78% | Building Size | 7,442 SF |
| Gross Rent Multiplier | 9.16 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1924 |
| Property Type | Multifamily | Parking Ratio | 0.54/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,700,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Cap Rate | 7.78% |
| Gross Rent Multiplier | 9.16 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,442 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Parking Ratio | 0.54/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 1 | - | - |
| 3+2 | 4 | - | - |
| Studios | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7272-005-017 | Improvements Assessment | $266,500 |
| Land Assessment | $164,598 | Total Assessment | $431,098 |
Property Taxes
Parcel Number
7272-005-017
Land Assessment
$164,598
Improvements Assessment
$266,500
Total Assessment
$431,098
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1027-1029 1/2 Pacific Ave
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