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About This Home
This 16-bedroom, 9-bathroom multi-family at 1958 Pine in Long Beach, CA is listed for $2,030,000 ($286 per sqft). Built in 1953, the home offers 7,108 sqft of living space on a 0.15 acres lot.
Priced to sell! This well-performing 10-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate.
New electrical meters and main installed. This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1958 Pine. Offering memorandum in supplemental materials.
Key Features
- Built in 1953
- 0.15 acre lot
- 2 stories
- 2 parking spaces
Property Details
Monthly Cost Estimate
$10,857/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1958 Pine
Long Beach, CA 90806
Wrigley Area (WR)
Features & Amenities
Exterior Features
Property Details
Parking
Questions & Answers
This 16-bedroom, 9-bathroom multi-family at 1958 Pine is listed at $2,030,000 ($286/sqft). The estimated monthly payment is $8,797 based on 20% down at 6.5% interest.
Key features include: Built in 1953, 0.15 acre lot, 2 stories, 2 parking spaces. Exterior Features: Community Features Included: Urban, 6-10 Units/Acre.
This property is listed by Malcolm Zeger and can be reached at 6264837983 or malcolm.zeger@buckinghaminvestments.com.
