$ 1,990,000
-
$1,990,000
Price -
3
Bed -
2
Bath -
6,423
SqFt
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About the Listing PB20845 - PWYOUNSHA
Price Reduced! Present All Offers! We are pleased to present a 10 unit investment opportunity located at 1700 Pacific Ave in Long Beach. All major systems have been redone, including new electric (main and sub panels), ABS plumbing systems, new vinyl windows, and the roof is in great condition as well. At a current 6.01% Cap Rate, and 10.41 GRM with upside to a 7.71% Cap Rate and 8.82 GRM, this is priced attractively & below the area average. In addition to all of the major improvements to the property, the tenants benefit from a rear roof deck, onsite laundry room (hookups with no machines), as well as onsite parking. There is ample retail and dining options nearby, and being located just off Pacific Coast Hwy, the central location allows for easy commute to downtown, the beach, and easy access to 710/405 Freeways. The property is also steps away from numerous new construction apartment buildings, retail centers, the $176 million reconstruction of Washington Middle School’s five-acre campus & the $450 million Poly High School campus renovation. In addition to the 29% upside in Net Operating Income, there is even more opportunity with the potential to convert the existing garage and rear parking area + roof deck into ADUs. One can reasonably get an additional 4+ units onsite for additional income and equity growth.
Listing Highlights for 1700 Pacific Ave
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Near Park,Near Public Transit,Value In Land,No Land Lease
- Garage Capacity: 5 car
- Parking Spaces: 9
- Zoning: LBR4R
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7269009013
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1700 Pacific Ave Long Beach, CA 90813
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