1585 Pacific Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
10 Units
Property Facts
| No. Units | 10 | Building Size | 8,716 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.57/1,000 SF |
| Lot Size | 0.17 AC | ||
| Zoning | R4R, Long Beach - Multiple Dwelling | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,716 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | R4R, Long Beach - Multiple Dwelling |
Amenities
Unit Amenities
- Kitchen
- Range
- Double Pane Windows
- Family Room
Site Amenities
- Laundry Facilities
- Gated
- Public Transportation
About 1585 PACIFIC AVE , LONG BEACH, CA 90813
GREAT PROPERTY FOR INVESTORS!! UPGRADES DONE AND STILL HAS RENTAL UPSIDE! HIGH RENTAL DEMAND AREA! GREAT LONG TERM TENANTS! Current Cap Rate: 4.50%; Market Cap Rate: 6.65%; LOW AREA PRICE/SQ FT of $258/sq ft; Strong Rental Market in Long Beach; +25% Upside Potential in Rents; LARGE Units with Attractive Unit Mix: 6 - Large Two Bedroom / Two Bathroom units; 2 – Large Three Bedroom / Two Bathroom units; 2 – Large One Bedroom / One Bathroom units; Separately Metered Electricity; New Windows plus many other upgrades done in past 24 months (see pics); Garage Parking; Keyed Security Gate Entry (front and rear); New Security Camera Surveillance System; Blocks from downtown - Shoreline Village, Long Beach Aquarium, Long Beach Grand Prix; Close to public transportation. CALL AGENT FOR SHOWING. DO NOT DISTURB TENANTS!
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,075 | 600 |
| 2+2 | 6 | $1,388 | 850 |
| 3+2 | 2 | $1,595 | 1,000 - 1,050 |
Property Taxes
| Parcel Number | 7269-002-020 | Improvements Assessment | $1,103,272 |
| Land Assessment | $367,754 | Total Assessment | $1,471,026 |
Property Taxes
