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Listed by Malcolm Zeger, DRE #02013882 • Buckingham Investments, Inc
$ 2,030,000
Est. payment /mo
Contingent
1958 Pine Long Beach, CA 90806
6,742 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRSB26098552
Year Built 1953
Lot Size 6,742 Sqft
Source California Regional MLS
Property Description
Priced to sell! This well-performing 10-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 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built 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, 1952 Pine. Offering memorandum in supplemental materials.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Parking Features Assigned Spaces
Garage Spaces 2.0
Pool None
Building
Water District - Public
Others
Tax ID 7209017010
Special Listing Condition Not Applicable , Accepting Backups
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