Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$2,900,000
Est. payment /mo
7,492 Sqft Lot
New
1626 Pine AVE Long Beach, CA 90813
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26013773
Year Built 1963
Lot Size 7,492 Sqft
Source California Regional MLS
Property Description
Renovated and current 6.99% Cap and 9.57 GRM with ADU potential! 1626 Pine Ave, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance. All units are renovated with new floors, appliances, and fixtures. Once all units are rented at market and ADUs are built out, the property will operate at a 7.79% Cap and 8.81 GRM. The property is comprised of (12) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units. 1626 Pine Ave has 10 parking spaces on site and collects $500/month in parking income. Additionally, the property collects $200/month in laundry. Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Heating Radiant
Laundry Laundry Area, Community Facility
Exterior
Parking Features Garage
Garage Spaces 7.0
Pool None
Building
Water District - Public
Others
Tax ID 7269011003
Special Listing Condition Not Applicable

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