$2,225,000
1626 Pacific Avenue
Long Beach, CA 90813
12
Beds
16
Baths
6,476
Square feet
1922
Built
Listing narrative
Description
Prime Long Beach 15 unit residential property on a 11,311sf lot. This property is excellent for a cash flowing investment OR development. Six units intentionally left vacant for ease of development, if desired. Property has 8 single car garages that could potentially be converted into ADUs. Current income (with vacant units counted at pro-forma rents) puts the property at 7.98 cap rate. Get to 9.7 cap rate at full pro-forma rents! Units have tankless water heaters. Agents MUST read private notes.
Property Details
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Price
$2,225,000
Beds
12 bd
Type
House
Home Size
6,476 sqft
Baths
16
Lot Size
0.26 acres
Year
1922
Status
For Sale
Days on Market
57
$ / Sqft
$344
Courtesy of Elite Representation Real Estate
