2369 Pacific Avenue,  Long Beach CA, 90806 (Residential Income)

2,951 sqft
Status: Active
MLS#: OC16112837
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Last Updated: 12/9/2016 8:27 AM
Description for 2369 Pacific Avenue Long Beach, CA 90806
Great income property opportunity. Split use zoning (CNP - Neighborhood Pedestrian-Oriented Commercial). Property has 5 different units total on the property, all generating monthly rents currently totalling $4,900 per month. There are 2 office/retail units with great Pacific Avenue street frontage, rents are currently $700 and $800 respectively. The property also has 3 residential units set behind the office spaces. Each unit is 1 bedroom, 1 bathroom and the current rents are $950, $950 and $900 respectively. The property has ample open space parking as well as 4 private garages. Two of the 4 the garage units are rented as storage for $250 and $350 each. All rents are month-to-month with the exception of the $800 per month office space, this unit has approximately 18 months left on lease. This is a great way to diversify your investment portfolio. Pro forma rental income is roughly $5,285 per month or $63,420 annually. Buyer to verify all information on their own, information deemed reliable, but not guaranteed.
Price
$835,000
Los Angeles
2,951 (approx)
OC16112837
Active
Description
Great income property opportunity. Split use zoning (CNP - Neighborhood Pedestrian-Oriented Commercial). Property has 5 different units total on the property, all generating monthly rents currently totalling $4,900 per month. There are 2 office/retail units with great Pacific Avenue street frontage, rents are currently $700 and $800 respectively. The property also has 3 residential units set behind the office spaces. Each unit is 1 bedroom, 1 bathroom and the current rents are $950, $950 and $900 respectively. The property has ample open space parking as well as 4 private garages. Two of the 4 the garage units are rented as storage for $250 and $350 each. All rents are month-to-month with the exception of the $800 per month office space, this unit has approximately 18 months left on lease. This is a great way to diversify your investment portfolio. Pro forma rental income is roughly $5,285 per month or $63,420 annually. Buyer to verify all information on their own, information deemed reliable, but not guaranteed.
Listing Information
Property Type: Cluster, 2 Story
0.16 Acres 726,100 sq.ft. 2,951 (approx)
$282.95 1931
Yes- 4 spaces 2
3 Total
Neighborhood
Room Information
Interior Features
None
Wall Unit
No Fireplace
Exterior / Lot Features
4 Garage Spaces, 4 Parking Spaces, Assigned Parking Space, Garage, Shared Driveway
None
No Pool
Sidewalks, Street Lights, Curbs Walk
Driving Directions
Cross Streets: Pacific & Burnett
Financial Considerations
7205016017
$58,800 Income ,$7,753Expense
Listing Price History

Long Beach Real Estate

Long Beach is located in California. Long Beach, California 90806 has a population of 463,589.

The median household income in Long Beach, California 90806 is $52,900. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Long Beach 90806 is 33.2 years.

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Courtesy: Star Real Estate Robert Van Der Goes
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Information is deemed reliable but is not guaranteed.

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