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1861 Pacific Ave
Long Beach, CA 90806
200k Reduction! 8 Units Existing 6% Cap · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Easy to Rent Unit Mix consisting of 1 (3bed/1bath), 4 (1bed/1bath), 1 (studio/1bath) and 2 large store fronts
- Preliminary plans to add 2 Detached (3 bed/1bath) ADUs for future upside
- 8 Unit building with 6 renovated residential units and 2 store-front retail units in Long Beach
- Individually metered for Gas & Electricity
- 5 garages in the back alley
- Incredible Existing 6% Cap Rate and 11.9 GRM after lease-up with upside to 7.3% Cap Rate and 10.2 GRM on Proforma
Property Facts
| No. Units | 6 | Building Size | 6,072 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1929/2023 |
| Building Class | C | Parking Ratio | 0.82/1,000 SF |
| Lot Size | 0.21 AC | ||
| Zoning | LBCCA - Long Beach Coastal Commercial Area | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 6,072 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1929/2023 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | LBCCA - Long Beach Coastal Commercial Area |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Tub/Shower
- Lawn
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 600 |
| 3+2 | 1 | - | 900 |
| Studios | 1 | - | 400 |
Property Taxes
| Parcel Number | 7209-022-010 | Improvements Assessment | $1,519,800 |
| Land Assessment | $719,100 | Total Assessment | $2,238,900 |
Property Taxes
Parcel Number
7209-022-010
Land Assessment
$719,100
Improvements Assessment
$1,519,800
Total Assessment
$2,238,900
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