Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

8

Building size

5,490 sqft

Lot size

6,742 sqft

Year built

1940

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

162

MLS #

241835954

About this property

Priced to sell! This well-performing 8-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 386 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate. There is a courtyard in the middle of the property for tenant enjoyment. This 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, 1958 Pine. Offering memorandum in supplemental materials.

Location

1952 Pine

Long Beach, Los Angeles, CA, 90806