2369 Pacific Avenue, Long Beach, CA 90806

$850,000 Approx. USD 0 beds, 0 baths
2,951 sqft

Agent Remarks

Great income property opportunity. Split use zoning (CNP - Neighborhood Pedestrian-Oriented Commercial). Property has 5 different units total on the property, all generating monthly rents currently totalling $4,900 per month. There are 2 office/retail units with great Pacific Avenue street frontage, rents are currently $700 and $800 respectively. The property also has 3 residential units set behind the office spaces. Each unit is 1 bedroom, 1 bathroom and the current rents are $950, $950 and $900 respectively. The property has ample open space parking as well as 4 private garages. Two of the 4 the garage units are rented as storage for $250 and $350 each. All rents are month-to-month with the exception of the $800 per month office space, this unit has approximately 18 months left on lease. This is a great way to diversify your investment portfolio. Pro forma rental income is roughly $5,285 per month or $63,420 annually. Buyer to verify all information on their own, information deemed reliable, but not guaranteed.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# OC16112837
List price is $850,000 Reduced by $49,000 on 10/3/2016
Beds: 0
Baths: 0
None fireplaces
Built in 1931
2,951 sqft
2 stories
0.16 acres
Lot size: 7261.000
County: Los Angeles
Parking description: Assigned,Garage,Shared Driveway
Heating description: Wall Heater
MLS area: 5 - Wrigley Area

Last Updated: 10/3/2016

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This listing belongs to the 5 - Wrigley Area MLS area

Lat/Long: 33.800259, -118.194054.
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Broker: Courtesy of Star Real Estate
Listing Agent: Robert Van Der Goes

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