2219 Pine ave, Long Beach, CA 90806
Active
$2,199,000
12%
10 Units
12 Beds
10 Baths
6,440 Area(sq.ft.)
Lot: 6,623 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 2,300 | $ 2,300 | $ 2,554 |
| Unit 10 | 1 | studio | 1 | No | $ 500 | $ 500 | $ 1,200 |
| Unit 2 | 1 | 2 | 1 | No | $ 2,200 | $ 2,200 | $ 2,554 |
| Unit 3 | 1 | 2 | 1 | No | $ 1,450 | $ 1,450 | $ 2,554 |
| Unit 4 | 1 | 1 | 1 | No | $ 1,180 | $ 1,180 | $ 2,006 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,566 | $ 1,566 | $ 2,006 |
| Unit 6 | 1 | 1 | 1 | No | $ 1,770 | $ 1,770 | $ 2,006 |
| Unit 7 | 1 | 1 | 1 | No | $ 1,740 | $ 1,740 | $ 2,006 |
| Unit 8 | 1 | 1 | 1 | No | $ 1,752 | $ 1,752 | $ 2,006 |
| Unit 9 | 1 | 1 | 1 | No | $ 1,274 | $ 1,274 | $ 2,006 |
| 10 | 12 | 10 | $ 15,732 | $ 15,732 | $ 20,898 |
| MLS #: | PW24201464MR |
| Days On Market: | 415 |
| Listing Date: | October 17, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 341 |
| Price per unit: | $ 219,900 |
| Year Built: | 1948 |
Property Details
NEW PRICE REDUCTION!! This 10-Unit Apartment Building is a Great Investment for an Investor. Located in the South Wrigley Area with a Market Cap Rate of 6.9%. The Property has been Well-Maintained, with a Great Upside Potential on the Future Rental Income!! This Property Offers (3) 2 Bedrooms -1 Bathroom, (6) 1 Bedrooms - 1 Bathroom and (1) Bonus Room/Studio -1 Bathroom. Four of the Units have been Recently Remodeled, and the Exterior was Recently Painted. The Property also has (4) Single Car Garages that can be a Great Opportunity to convert into ADU'S for Additional Income, and it has (4) Parking Spaces for Extra Income. The Owner just recently Installed a Newer Roof. All Units are Separately Metered for Gas and Electric. This 10-Unit Apartment Building is Located in a High Demand Rental Area!! This Apartment Building in Conveniently Located Close to Shopping, Restaurants, Entertainment, Metro Link, Long Beach Airport Downtown LB, Civic Center, Long Beach Aquarium, Downtown Village, CSULB and Queen Mary Island.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 46,984 |
| Net Operating Income: | $ 153,800 |
| Cap Rate: | 6.9% |
| Actual Gross Rent: | $ 15,732 |
Structure
| Community Features: | Curbs, Sidewalks, Street Lights |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector |
| Style: | Contemporary |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
| Parking Garage: | Garage - 1 Car |
Interior
| AC/Cooling: | None |
| Equipment: | Gas Dryer Hookup, Laundry Area, Room, Washer Hookup |
| Heating: | Wall |
| Laundry: | Gas Dryer Hookup, Laundry Area, Room, Washer Hookup |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Roof: | Composition |
| Spa: | No |
Detailed Map
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