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- LoopNet Team
939 Pacific Ave
Long Beach, CA 90813
Turn-Key 5.32% Cap at Leveled Rents · Multifamily Property For Sale
·
13 Units
PROPERTY FACTS
| No. Units | 13 | Building Size | 7,836 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1959/2018 |
| Building Class | C | Parking Ratio | 0.76/1,000 SF |
| Lot Size | 0.17 AC | ||
| Zoning | LBPD30 - Planned Development | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,836 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1959/2018 |
| Parking Ratio | 0.76/1,000 SF |
| Zoning | LBPD30 - Planned Development |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Microwave
- Tile Floors
- Hardwood Floors
- Stainless Steel Appliances
- Carpet
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
ABOUT 939 PACIFIC AVE , LONG BEACH, CA 90813
Turnkey non-rent controlled apartment complex comprised of 13 spacious (1 Bed + 1 Bath) units averaging 600 SF each located in vibrant Downtown Long Beach. Current ownership has remodeled 100% of the unit interiors with high end modern finishes and fixtures, all of which were permitted through the City of Long Beach. The majority of units are now leasing for $1595 enabling a Buyer to capture a 5.32% Cap Rate by leveling rents. The Downtown area has become one of the most soft after sub-markets in Greater Los Angeles for institutional capital due to its coastal location and business friendly climate, which has led to significant rent growth and high occupancy levels over the past few years. There are (6) on-site garages renting for $150/mth each, a common laundry facility and a beautifully landscaped courtyard including a permitted stainless steel BBQ for tenants to enjoy.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 13 | $1,545 | 600 |
PROPERTY TAXES
| Parcel Number | 7272-012-009 | Improvements Assessment | $1,295,968 |
| Land Assessment | $2,395,082 | Total Assessment | $3,691,050 |
PROPERTY TAXES
