1958 Pine, Long Beach, CA 90806
- $2,030,000
- List Price
- $2,030,000
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- SB26098552
- Year Built
- 1953
- Lot Size
- 6,742
- Acres
- 0.15
- Lot Location
- 6-10 Units/Acre
- Days on Market
- 82
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- Wrigley Area (Wr)
Property Description
Priced to sell! This well-performing 10-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 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built 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, 1952 Pine. Offering memorandum in supplemental materials.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 10
- Gross Scheduled Income
- $228,060
- Operating Expense
- 70490
Listing courtesy of Listing Agent: Malcolm Zeger (malcolm.zeger@buckinghaminvestments.com) from Listing Office: Buckingham Investments, Inc.
Mortgage Calculator
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