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    2237 Pine Avenue

    Long Beach, CA 90806
    • $1,749,000
    • STATUS: ACTIVE
    • ON SITE: 19 days
    • ID#: PW21084085
    UPDATED: 44 min ago
    $1,749,000
    • 5
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are proud to present this Eight Unit Building in Great, Wide Street, Wrigley Location!!! This Gated building is comprised of (Two) 2bed/1bath and (Six) 1bed/1bath nicely sized units, (4) Garages renting for $150 each, and a Laundry/Storage Room. Current owner has maintained the property in good condition and has Upgraded All Kitchens with New Cabinets, Granite Countertops, and New Ceramic Tile Flooring. Six of the units have also been Upgraded with New two piece Shower and Tub Combo and New Tile Flooring. Other Property Upgrades include a New Roof 8 years ago, Double Pane / Low-E Windows throughout, and Plumbing was Upgraded to Copper and Pex 6 years ago. Very Desirable Rental area near Schools, Public Transportation, and Shopping Centers. There is a tremendous upside potential to raise the rents 40-60% and have this asset perform at a 6.0% + cap rate. Market / Pro Forma GSI is $164,000+/year. We are proud to present this Eight Unit Building in Great, Wide Street, Wrigley Location!!! This Gated building is comprised of (Two) 2bed/1bath and (Six) 1bed/1bath nicely sized units, (4) Garages renting for $150 each, and a Laundry/Storage Room. Current owner has maintained the property in good condition and has Upgraded All Kitchens with New Cabinets, Granite Countertops, and New Ceramic Tile Flooring. Six of the units have also been Upgraded with New two piece Shower and Tub Combo and New Tile Flooring. Other Property Upgrades include a New Roof 8 years ago, Double Pane / Low-E Windows throughout, and Plumbing was Upgraded to Copper and Pex 6 years ago. Very Desirable Rental area near Schools, Public Transportation, and Shopping Centers. There is a tremendous upside potential to raise the rents 40-60% and have this asset perform at a 6.0% + cap rate. Market / Pro Forma GSI is $164,000+/year.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sunluxrealestate.com/homes/116332924
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    2237 Pine Avenue Long Beach, CA 90806

    • Price: $1,749,000
    • Status: ACTIVE
    • Updated: 44 min ago
    • ID#: PW21084085
    5
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    Neighborhood:
    Long Beach (90806)
    County:
    Los Angeles
    Area:
    Long Beach (90806)
    Property Description
    We are proud to present this Eight Unit Building in Great, Wide Street, Wrigley Location!!! This Gated building is comprised of (Two) 2bed/1bath and (Six) 1bed/1bath nicely sized units, (4) Garages renting for $150 each, and a Laundry/Storage Room. Current owner has maintained the property in good condition and has Upgraded All Kitchens with New Cabinets, Granite Countertops, and New Ceramic Tile Flooring. Six of the units have also been Upgraded with New two piece Shower and Tub Combo and New Tile Flooring. Other Property Upgrades include a New Roof 8 years ago, Double Pane / Low-E Windows throughout, and Plumbing was Upgraded to Copper and Pex 6 years ago. Very Desirable Rental area near Schools, Public Transportation, and Shopping Centers. There is a tremendous upside potential to raise the rents 40-60% and have this asset perform at a 6.0% + cap rate. Market / Pro Forma GSI is $164,000+/year. We are proud to present this Eight Unit Building in Great, Wide Street, Wrigley Location!!! This Gated building is comprised of (Two) 2bed/1bath and (Six) 1bed/1bath nicely sized units, (4) Garages renting for $150 each, and a Laundry/Storage Room. Current owner has maintained the property in good condition and has Upgraded All Kitchens with New Cabinets, Granite Countertops, and New Ceramic Tile Flooring. Six of the units have also been Upgraded with New two piece Shower and Tub Combo and New Tile Flooring. Other Property Upgrades include a New Roof 8 years ago, Double Pane / Low-E Windows throughout, and Plumbing was Upgraded to Copper and Pex 6 years ago. Very Desirable Rental area near Schools, Public Transportation, and Shopping Centers. There is a tremendous upside potential to raise the rents 40-60% and have this asset perform at a 6.0% + cap rate. Market / Pro Forma GSI is $164,000+/year.
    Exterior Features

    Pool N/K Site Sidewalks

    Interior Features

    Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

    Property Features

    Annual Expense Actual 28615 Buildings 2 Gross Scheduled Income Actual 110400 Tenant Pays Cable TvElectricityGas/Propane Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 900.0 Unit2 Rent Actual 950.0 Unit3 Rent Actual 1100.0 Unit4 Rent Actual 1350.0 Zoning Assessor

    Listing provided courtesy of On The Move Realty. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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