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1113 Pacific Avenue

Long Beach, CA 90813
  • $1,400,000
  • STATUS: Active
  • ON SITE: 16 Days
  • ID#: 22155515
$1,400,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1907
County:

School Ratings & Info

Listing Agent(s): David Harrington of Matthews Real Estate Investment Services (866-889-0550)


Description

1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the assessor as a 5-Unit. Featuring: 4 Units Across 2 Structures; One 6 Bedroom + 2 Bathroom Ground Floor Unit, One 4 Bedroom +1 Bathroom Unit, *One 3 Bedroom + 1 Bathroom House*, One 2 Bedroom + 1 Bathroom Unit; 5,468 Gross Square Feet; Individually Metered For Electricity & Gas - House Pays Own Water; 4 Garage Spaces; LBCO Zoning; 7,447 SF Lot

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T00:32:21.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128578632
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1113 Pacific Avenue Long Beach, CA 90813

  • Price: $1,400,000
  • Status: Active
  • On Site: 16 Days
  • ID#: 22155515
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1907
Built
Neighborhood:
4 - Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
Property Description
1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the assessor as a 5-Unit. Featuring: 4 Units Across 2 Structures; One 6 Bedroom + 2 Bathroom Ground Floor Unit, One 4 Bedroom +1 Bathroom Unit, *One 3 Bedroom + 1 Bathroom House*, One 2 Bedroom + 1 Bathroom Unit; 5,468 Gross Square Feet; Individually Metered For Electricity & Gas - House Pays Own Water; 4 Garage Spaces; LBCO Zoning; 7,447 SF Lot
Exterior Features

Carport YN Yes Direction Faces East Parking Features Detached Carport Parking Total 4 Pool Features None Pool Private YN No Spa Features None Spa YN No

Interior Features

Appliances OvenRefrigerator

Property Features

Association Fee 0 Community Features Gated Garage YN Yes Gross Income 82020 Levels Two Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 50424 New Construction YN No Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lbco



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T00:32:21.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): David Harrington of Matthews Real Estate Investment Services (866-889-0550)