1754 Pine Ave, Long Beach, CA 90813

1754 Pine Ave, Long Beach, CA 90813

Long Beach, CA
$2,975,000

Property Description

1754 Pine Ave is a unique 11 unit opportunity located in Long Beach, CA. The subject property boasts a fantastic unit mix consisting of five (5) 1-bedroom/1-bathroom, four (4) 2-bedroom/1-bathroom, one (1) 2-bedroom/2-bathroom, and one (1) 3-bedroom/2-bathroom units. There is potential for one (1) 1-bedroom/1-bathroom ADU (potential 12 total). Recent upgrades and replacements include stucco, windows, doors, exterior lighting, electrical, plumbing, garage doors, washer and dryer, walkways and stairs, landscaping and renovated units. 1754 Pine Ave features 6 garages, 2 additional parkings spaces, and an on-site laundry facility. The tenants also enjoy close access to freeways and public transportation making commutes much easier.

Property Features

  • Sale Price: $2,975,000
  • Area Size: 8,532 Sq. Ft.
  • Land Area: 7,567 Sq. Ft.
  • Year Built: 1964
  • Listing Date: 8/24/2022
  • Closing Date: 12/16/2022
  • Units: 11
  • Current GRM: 14.39
  • Current Cap Rate: 4.36%
  • Price Per Unit: $281,818
  • Market GRM: 11.28
  • Market Cap Rate: 6.22%
  • Current NOI: $ 135,151