$1,699,000 - 1952 Pine Avenue, Long Beach

  • 0Beds
  • Baths
  • 0SQ. Feet
  • 0.15Acres

We are pleased to present the opportunity to purchase a rare, value-add offering that is cash flowing at a current 5.24% Cap Rate.  The high cash flow provides a buyer the opportunity to purchase at a 60%+ LTV.  Pine Ave consists of six units that have large floor plans situated on a 6,740 sq ft lot.  Additionally, there is significant upside potential to add an additional two ADU units, and to utilize the two common courtyards for tenant amenities.  1952 Pine also benefits from four single car garages which are a commodity in Long Beach.  Located near Downtown Long Beach, and proximate to the 710 & 405 Freeways, this is a strong rental location that will benefit a first time or seasoned investor. Note - the property consists of large 1bedroom units which operate as 2bedroom units.

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Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW23021166
  • Price:$1,699,000
  • Bathrooms:0.00
  • Acres:0.15
  • Year Built:1940
  • Type:Residential Income
  • Sub-Type:Apartment
  • Status:Closed
  • Listing Agent:Shane Young
  • Listing Office:Younglewin Advisors, Inc.

Community Information

  • Address:1952 Pine Avenue
  • Area:5 - Wrigley Area
  • Subdivision:Wrigley Area (WR)
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90806

Amenities

  • Parking Spaces:4
  • # of Garages:4
  • Pool:None

Interior

  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:Back Yard, Front Yard, Sprinkler System, Value In Land, Yard

Additional Information

  • Date Listed:February 21st, 2023
  • Days on Market:62
  • Zoning:LBR4R

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Based on information from California Regional Multiple Listing Service, Inc. as of May 2nd, 2024 at 6:30am CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.