$3,395,000 - 939 Pacific Avenue 4, Long Beach

  • 0Beds
  • Baths
  • 7,836SQ. Feet
  • 0.17Acres

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.

Sales Agent

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

Essential Information

  • MLS® #:RS19125039
  • Price:$3,395,000
  • Bathrooms:0.00
  • Square Footage:7,836
  • Acres:0.17
  • Year Built:1959
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:939 Pacific Avenue 4
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Downtown (DT)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Amenities

  • Parking Spaces:6
  • # of Garages:6

Interior

  • Stories:Two

Exterior

  • Lot Description:Level with Street, Near Public Transit, Lot 6500-9999, Paved
  • Roof:Composition

Additional Information

  • Date Listed:May 29th, 2019
  • Days on Market:80
  • Zoning:LBCO

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Other (othr)

  • City:
    Long Beach
  • Price Range:
    $525,000 - $3,200,000
  • Current Listings:
    15
  • HOA Dues:
    $
  • Average Price per Square Foot:
    $375

Alamitos Beach (ab)

Eastside (es)

  • City:
    Long Beach
  • Price Range:
    $699,999 - $5,250,000
  • Current Listings:
    11
  • HOA Dues:
    $
  • Average Price per Square Foot:
    $423
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Provided By: Andrew Mcallister(01946829), Nationwide Real Estate Execs.

Based on information from California Regional Multiple Listing Service, Inc. as of August 18th, 2019 at 7:48am 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.