1952 Pine Avenue, Long Beach, CA 90806

About this property

We are pleased to present the opportunity to purchase a rare, value-add offering that is cash flowing at a current 5.24% Cap Rate.  The high cash flow provides a buyer the opportunity to purchase at a 60%+ LTV.  Pine Ave consists of six units that have large floor plans situated on a 6,740 sq ft lot.  Additionally, there is significant upside potential to add an additional two ADU units, and to utilize the two common courtyards for tenant amenities.  1952 Pine also benefits from four single car garages which are a commodity in Long Beach.  Located near Downtown Long Beach, and proximate to the 710 & 405 Freeways, this is a strong rental location that will benefit a first time or seasoned investor. Note - the property consists of large 1bedroom units which operate as 2bedroom units.

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$1,620,000

Sold June 2023 · listed $1,699,000, on market February 2023 · MLS #PW23021166 · Source: CRMLS

Listing Agent: Shane Young · Listing Office: Younglewin Advisors, Inc. · Contact: 562-556-1118 · Bought with: Sam Alherech · Buckingham Investments, Inc

$1,075,000

Sold April 2018 · listed $1,099,000, on market February 2018 · MLS #PW18034522 · Source: CRMLS

Listing Agent: Abel Bratton · Listing Office: RE/MAX 2000 · Contact: 626-964-8999 · Bought with: Abel Bratton · RE/MAX 2000

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