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1845 Pine Ave, Long Beach, CA 90806
0 Beds
0 Baths
n/a sqft

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Pine Crest Apartments at 1845-1851 Pine Avenue is a 20-unit investment asset in a rapidly up-and-coming neighborhood in Long Beach priced at 13.15 GRM on actual rents. The property offers (2) one-bedroom/one-bath and (18) two- bedroom/one-bath units. Eleven of the units are completely remodeled with vinyl plank flooring, custom cabinets, stainless steel appliances, new bathroom vanities, and modern lighting and fixtures throughout. The secure-access building also features six garages and eight surface spaces, for a total of 14 parking spaces; cheery new paint; new windows; two laundry rooms; separate meters for gas and electric; and a lushly landscaped community courtyard. This area is beginning to benefit from the large amount of capital flooding into Long Beach. As renters move inland from Downtown Long Beach and beach areas, renter demographics are changing in the surrounding areas. Exciting new developments are taking place within just a few blocks from the property.
  • Price:
  • $4,925,000
  • Acreage:
  • 0.31
  • Year Built:
  • 1959
  • Listing ID #:
  • PW19219373
  • Street Address:
  • 1845 Pine Ave
  • City:
  • Long Beach
  • State:
  • California
  • Postal Code:
  • 90806
  • County:
  • Los Angeles
  • Community:
  • Wrigley Area
  • Subdivision:
  • Wrigley Area (wr)
  • Listing Status:
  • Active
  • Number Of Units:
  • 20
  • Total # Of Buildings:
  • 2
  • Year Built:
  • 1959
  • Year Built Source:
  • Assessor
  • Annual Electric Expenses:
  • 2874.70
  • Annual Insurance Expenses:
  • 5915.00
  • Annual Maintenance Expenses:
  • 10000.00
  • Annual Trash Expenses:
  • 2874.70
  • Annual Water/Sewer Expenses:
  • 2874.70
  • Expenses:
  • 112319.00
  • Gross Income:
  • 355846.00
  • Net Operating Income:
  • 243527.00
  • Operating Expense:
  • 112319.00
  • Approximate Lot Size Range Source:
  • Assessor
  • Conforms To Zoning:
  • Lbr4r
  • Lot Features:
  • 16-20 Units/Acre
  • Lot Square Footage:
  • 13454.00
  • Community Features:
  • Sidewalks, Street Lights, Urban
  • Days On Market:
  • 67
  • Price Per Square Foot:
  • 374.70
  • Laundry:
  • 1
  • Laundry Description:
  • Common Area
  • Garage Parking Spaces:
  • 14.00
  • Parking Description:
  • Garage, Tandem Uncovered
  • Parking Spaces:
  • 14.00
  • Existing Water:
  • Public
  • Sewage Type:
  • Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By Robert Stepp of Keller Williams Pacific Estate
  • CRMLS

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