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$ 2,730,000
Est. payment | /mo
1 Bed
1 Bath
7,506 Sqft Lot
$ 2,730,000
Est. payment | /mo
1 Bed
1 Bath
7,506 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Willmore District (Wm)
MLS Listing ID SB26114748
Bedrooms 1
Lot Size 7,506 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 939 Pacific Avenue, a renovated thirteen-unit apartment complex located just outside the historic Drake Park/Willmore City neighborhood in Downtown Long Beach. Situated less than a block from the Corner Dog Park and a short bike ride to The Promenade and City Place Shopping Center, this property benefits from the continued revitalization of the Downtown Long Beach corridor. Tenants enjoy walkable access to retail, dining, entertainment, and major employment centers, along with excellent transit connectivity and a Walk Score of 93. The property consists of thirteen (13) spacious 1-bedroom/1-bathroom units. All units were fully remodeled prior to current tenancy with high-end finishes including quartz countertops, real wood shaker cabinetry, recessed lighting, stainless steel appliances, ceramic tile in wet areas, and new flooring. Exterior improvements include new dual-pane vinyl windows, fencing and gates, drought-tolerant landscaping, garage doors with openers, upgraded lighting, and a permitted outdoor BBQ area. New main electric panel and sub panels. Additional features include a coin-operated laundry room that generates supplemental income and a storage room that is currently unused, offering potential for added income or repurposing. The property also includes six (6) on-site garages. Priced at a 6.40% cap rate, 939 Pacific Avenue offers investors a well-maintained, improved asset in one of Long Beachs most supply-constrained and appreciating coastal submarkets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Pacific Ave and W 9th St
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7272012009
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Christopher Van Vuuren, DRE#02060007 Lyon Stahl Investment Real Estate, Inc.
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