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… Read More 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-425-9838
Listing Snapshot
Days Online
0
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1963
MLS Number
SB26013773
Additional Details
Building
Built in 1963, 1 building, 2 stories, Entry level: 1, Entry location: 1
Community
Park, Suburban
Expenses
Insurance: $9,725, Operating: $91,244
Garage
7 spaces
Heating
Radiant
Income
Gross Income: $293,991, Gross ScheduledIncome: $303,084, Net Operating Income: $202,747
Laundry
CommonArea
Lot
0.172 acres, ZeroToOneUnitAcre
Parking
7 total parking spaces, DoorSingle, GarageFacesFront, Garage, GarageFacesRear
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
