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1952 Pine Ave 8 Unit Apartment Building $1,565,000 ($195,625/Unit) 7.17% Cap Rate Long Beach, CA 90806
Investment Highlights
- Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate
- Available for sale with neighboring property, 1958 Pine.
- Located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway
Executive Summary
Priced to sell! This well-performing 8-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 386 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate. There is a courtyard in the middle of the property for tenant enjoyment. This property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1958 Pine. Offering memorandum in supplemental materials.
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 | $1,565,000 | Building Class | C |
| Price Per Unit | $195,625 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,490 SF |
| Cap Rate | 7.17% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.81 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 0.73/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4R, Long Beach - Multi-Family Medium Density | ||
| Price | $1,565,000 |
| Price Per Unit | $195,625 |
| Sale Type | Investment |
| Cap Rate | 7.17% |
| Gross Rent Multiplier | 8.81 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,490 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 0.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4R, Long Beach - Multi-Family Medium Density |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Gated
- Individual Locking Bedrooms
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,875 | - |
| 1+1 | 1 | $1,895 | - |
| 1+1 | 1 | $2,050 | - |
| 1+1 | 2 | $1,595 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7209-017-012 | Total Assessment | $1,685,448 |
| Land Assessment | $702,270 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $983,178 | Tax Year | 2025 |
Property Taxes
Parcel Number
7209-017-012
Land Assessment
$702,270
Improvements Assessment
$983,178
Total Assessment
$1,685,448
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1952 Pine Ave
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