Log In/Sign Up
Your email has been sent.
1626 Pine Ave 14 Unit Apartment Building $2,900,000 ($207,143/Unit) 6.99% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Fully renovated and renting near market with ADU potential
- Located near $6 billion worth of new development
- Current 6.99% Cap Rate and 9.57 GRM
- Perfect Cash Flow opportunity with extremely low maintenance
- Parking and laundry collect an additional $700/mo. in income
- 10 Parking Spaces with 7 Total Single Car Garages
EXECUTIVE SUMMARY
Renovated and current 6.99% Cap and 9.57 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.
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.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $207,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.99% | Building Size | 7,780 SF |
| Gross Rent Multiplier | 9.57 | Average Occupancy | 80% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Zoning | R4R | ||
| Price | $2,900,000 |
| Price Per Unit | $207,143 |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| Gross Rent Multiplier | 9.57 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,780 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | R4R |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Zen Garden
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $20,567 | - |
| 2+1 | 2 | $3,900 | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 7269-011-003 | Total Assessment | $2,621,466 |
| Land Assessment | $892,413 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,729,053 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
7269-011-003
Land Assessment
$892,413
Improvements Assessment
$1,729,053
Total Assessment
$2,621,466
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
1 of 26
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1626 Pine Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.