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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 2,125,000
Est. payment /mo
Active
1111 Pine AVE Long Beach, CA 90813
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26199510
Year Built 1922
Source California Regional MLS
Property Description
1111 Pine Avenue is a 12-unit multifamily investment opportunity located in Long Beach, California. Built in 1922, 1111 Pine Avenue features a unit mix of 7 studios and 5 1-bed/1-bath units totaling approximately 6,142 square feet of net rentable area. The property offers a gated central courtyard, on-site laundry facility and 4 garage parking spaces. The property has benefited from extensive improvements under current ownership, with most units substantially renovated as vacancies occurred over roughly the last decade. Five units have been recently renovated with all-new kitchens and bathrooms, including 4 currently vacant units whose renovations were just completed and are positioned to be leased at current market rental rates. Renovated interiors feature a mix of updated cabinetry, countertops and flooring as well as recessed lighting, with finishes varying by unit. Ownership has also invested in the building's major systems, including new copper plumbing and updated electrical. Together with the extensive interior renovation history, these improvements represent meaningful capital investment in the property and provide a stronger physical foundation for future ownership. Current rents remain below prevailing market levels, providing additional long-term income growth potentia
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Community Facility
Exterior
Garage Spaces 4.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 7273005038
Special Listing Condition Not Applicable
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