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1626 Pacific Ave, Long Beach, CA 90813

$2,225,000

•

12
bed
16
bath
6,476
Sqft ($344/Sqft)

Multi-family for sale 58 days

About 1626 Pacific Ave

Property type Multi-family

Neighborhood

Year built 1922

HOA fee $0/month

Lot size 0.26 Acre

Movoto estimate

Parking 8 garage spaces

Property 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.

Listed by

Listing Agent - Melissa Barlow

Listing Office - Elite Representation Real Estate

Source: The MLS

MLS#26987747 • last updated 1 month ago

Movoto checked The MLS for data 18 minutes ago

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Overview
Levels/Style	One
MLS #	26987747
Type	Residential Income
Status	Active
SqFt	6476
Lot Size (SqFt)	11311
Lot Size (Acres)	0.2597
Tax (Mello-Roos)	No
Year Built	1922

Interior
Total # of Baths	16
Total # of Bedrooms	12
Flooring	Mixed

Exterior
Exterior	Stucco
Roof	Flat
# Garage Spaces	8
# Parking Spaces	8
Parking Desc	Garage Is Detached
Patio	None
Add'l Structures	None
Lot Location	None

Amenities / Utilities
Sprinklers	None
Water	District
Sewer/ Septic	In Connected And Paid
Water Heater	Tankless
Equipment	Other
Pool	None

Location
County	Los Angeles
Waterfront	None
View	None
School District	Long Beach Unified
Zoning	LBR4R
APN	7269-008-006

Multifamily Details
Tenant Pays	Gas, Electricity
Unit 5: # Baths	1, 1
Unit 8: Furnished	No
Unit 9: Furnished	No
Unit 3: Furnished	No
Unit 1: Furnished	No
Unit 6: Furnished	No
Unit 7: Furnished	No
Unit 4: Furnished	No
Unit 5: Furnished	No
Unit 10: Furnished	No
Unit 12: Furnished	No
Unit 13: Furnished	No
Unit 11: # Baths	1
Unit 12: # Baths	1
Unit 13: # Baths	1
Unit 11: Projected Rent	1495
Unit 9: Projected Rent	1495
Unit 8: Projected Rent	1495
Unit 3: Projected Rent	1495
Unit 1: Projected Rent	2000
Unit 7: Projected Rent	1495
Unit 10: # Beds	1
Unit 12: Actual Rent	1150
Unit 10: Actual Rent	1170
Unit 11: Actual Rent	1302
Unit 7: # Baths	1
Unit 9: # Beds	1
Unit 8: # Beds	1
Unit 1: # Beds	3
Unit 7: # Beds	1
Unit 6: # Beds	1
Unit 4: # Beds	1
Unit 2: Rent	918
Unit 3: Rent	1400
Unit 4: Rent	1095
Unit 5: Rent	1300
Unit 6: Rent	980
Unit 8: Rent	940
Owner Pays	Gardener, Water
Unit 2: Furnished	No
Unit 11: Furnished	No
Unit 13: Projected Rent	1295
Unit 12: Projected Rent	1295
Unit 10: Projected Rent	1495
Unit 12: Rent	1150
Unit 2: Projected Rent	1495
Unit 6: Projected Rent	1495
Unit 5: Projected Rent	1495
Unit 4: Projected Rent	1495
Unit 3: # Beds	1
Unit 2: # Beds	1
Unit 2: # Baths	1
Unit 3: # Baths	1
Unit 11: # Beds	1
Unit 1: # Baths	1
Unit 4: # Baths	1
Unit 8: # Baths	1
Unit 9: # Baths	1
Unit 5: # Beds	1
Unit 4: Actual Rent	1095
Unit 2: Actual Rent	918
Unit 3: Actual Rent	1400
Unit 8: Actual Rent	940
Unit Type	2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117, 2118
Unit 5: Actual Rent	1300
Unit 6: Actual Rent	980
Unit 10: Rent	1170
Unit 11: Rent	1302
Unit 10: # Baths	1
Total # Of Buildings	3
Net Operating Income	216233
Expense: Gardener	2400
Cap Rate	9.7
Expense: Insurance	4127
Expense: Maintenance	6000
Gross Income	265560
Gross Operating Income	265560
Gross Rent Multiplier	8.37
Expense: Licenses	1000
Total Annual Expenses	49327
Expense: Water	7800