939 Pacific Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 7,504 sqft lot
- 1959 build
- – on site
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Turnkey non-rent controlled apartment complex comprised of 13 spacious (1 Bed + 1 Bath) units averaging 600 SF each located in vibrant Downtown Long Beach. Current ownership has remodeled 100% of the unit interiors with high end modern finishes and fixtures, all of which were permitted through the City of Long Beach. The majority of units are now leasing for $1595 enabling a Buyer to capture a 5.32% Cap Rate by leveling rents. The Downtown area has become one of the most soft after sub-markets in Greater Los Angeles for institutional capital due to its coastal location and business friendly climate, which has led to significant rent growth and high occupancy levels over the past few years. There are (6) on-site garages renting for $150/mth each, a common laundry facility and a beautifully landscaped courtyard including a permitted stainless steel BBQ for tenants to enjoy.
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Last updated Apr 9, 2024
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MLS# RS19125039 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/21/19
Oct 21, 2019
|
Sold | CRMLS_CA | $3,375,000 | -0.6% |
|
10/14/19
Oct 14, 2019
|
Pending | CRMLS_CA | $3,395,000 | |
|
6/18/19
Jun 18, 2019
|
Price Changed | CRMLS_CA | $3,395,000 | -2.9% |