1151 Pacific Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,434,000 USD
424-405-3826
1151 Pacific Ave, Long Beach, CA for Sale
$1,434,000 USD
Apartments - FOR SALE
1/4
null | 6.49% Cap Rate

1151 Pacific Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • 1978 Construction fourplex with a desirable mix of three two-bed/two-bath units and one three-bed/two-bath unit
  • 10 percent potential upside in rents
  • Property features spacious floor plans, shared laundry, a two-car garage, four single-car garages and driveway parking
  • Located in the Willmore neighborhood proximate to retail (WalkScore: 89) the Metro Blue Line, and the 710 Freeway
  • Offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1209 Olive Avenue, a six-unit building.

OVERVIEW

Marcus & Millichap is pleased to present to market 1151 Pacific Avenue, a fourplex in Long Beach, California. The property is a 1978 construction with spacious floor plans and a highly desirable mix of three two-bed/two-bath units and one three-bed/two-bath unit. The property also offers on-site laundry, a two-car garage in the front, and four single-car garages in the rear with tandem driveway parking. 1151 Pacific Avenue is located in the Willmore neighborhood, offering tenants easy access to retail (WalkScore: 89), the Metro Blue Line, Downtown Long Beach, and the 710 Freeway. Current rents offer a new investor 10 percent rental upside. 1151 Pacific Avenue is offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1209 Olive Avenue, a six-unit building. Properties available separately or together.

FOR SALE DETAILS

PRICE

$1,434,000 USD

PRICE/SF

$317 USD /SF

# OF UNITS

4

PRICE/UNIT

$358,500

CAP RATE

6.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

LBCO

APN/PARCEL ID

7272-005-036

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.