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1113 Pacific Ave

Long Beach, CA 90813
  • $1,400,000
  • STATUS: Active
  • ON SITE: 17 Days
  • MLS #: 22-155515
UPDATED: 60 min ago
$1,400,000
  • 15
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,468
    SQFT
  • $256
    $/SQFT
Type:
Multi-Family
Built:
1907
County:

School Ratings & Info

Description

1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the assessor as a 5-Unit. Featuring: 4 Units Across 2 Structures; One 6 Bedroom + 2 Bathroom Ground Floor Unit, One 4 Bedroom +1 Bathroom Unit, *One 3 Bedroom + 1 Bathroom House*, One 2 Bedroom + 1 Bathroom Unit; 5,468 Gross Square Feet; Individually Metered For Electricity & Gas - House Pays Own Water; 4 Garage Spaces; LBCO Zoning; 7,447 SF Lot

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T07:42:43.797. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/128580275
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1113 Pacific Ave Long Beach, CA 90813

  • Price: $1,400,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 60 min ago
  • MLS #: 22-155515
15
Beds
0
Baths
0
½ Baths
0.17
Acres
5,468
SQFT
$256
$/SQFT
1907
Built
Neighborhood:
Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
Downtown Area, Alamitos Beach
Property Description
1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the assessor as a 5-Unit. Featuring: 4 Units Across 2 Structures; One 6 Bedroom + 2 Bathroom Ground Floor Unit, One 4 Bedroom +1 Bathroom Unit, *One 3 Bedroom + 1 Bathroom House*, One 2 Bedroom + 1 Bathroom Unit; 5,468 Gross Square Feet; Individually Metered For Electricity & Gas - House Pays Own Water; 4 Garage Spaces; LBCO Zoning; 7,447 SF Lot
Exterior Features

Direction Faces East Levels Two Lot Location City Lot Size Area 7447 Other Structures Other Parking Garage Detached Pool Description None Pool YN No Spa None Spa YN No Total Parking 4

Interior Features

Bathroom Features Shower And Tub Baths Total 5.00 Common Walls Attached Cooking Appliances Oven Cooling Window Unit(S) Equipment RefrigeratorRange/Oven Heating Wall Gas Laundry In Unit Laundry Equipment Own Water Heater Features Gas

Property Features

Assessed Total Value 648931 Gross Income 82020 Gross Operating Income 79559 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 50424.00 Number Of Buildings 2 Number Of Units 4 Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 29136 Type Of Units Large Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lbco

Listing provided courtesy of David Harrington DRE#01320460 of Matthews Real Estate Investment Services.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T07:42:43.797. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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