1626 Pine Ave, Long Beach, CA for sale

Investment Overview

Renovated and current 6.99% Cap and 9.57 GRM with ADU potential! 1626 Pine Ave, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance. All units are renovated with new floors, appliances, and fixtures. Once all units are rented at market and ADUs are built out, the property will operate at a 7.79% Cap and 8.81 GRM. NON RSO | Subject to State AB 1482 The property is comprised of (12) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units. 1626 Pine Ave has 10 parking spaces on site and collects $500/month in parking income. Additionally, the property collects $200/month in laundry. Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.

Investment Highlights

• NON- RSO Asset | Only State AB 1482
• Current 6.99% Cap Rate and 9.57 GRM
• Fully renovated and renting near market with ADU potential
• Perfect Cash Flow opportunity with extremely low maintenance
• Located near $6 billion worth of new development
• Parking and laundry collect an additional $700/mo. in income