Samimi CRE Advisors
    Listings/1626 Pine Ave
    1626 Pine Ave - Photo 1
    multifamilyActive Listing

    1626 Pine Ave

    Long Beach, CA 90813

    Valuation

    $2,900,000

    Key Specifications

    Total Units

    14

    multifamily

    Year Built

    1963

    Value-Add Era

    Interior

    7,780 SF

    $373 / SF

    Lot Area

    7,492 SF

    Unit Mix

    multifamily

    12x 1-Bed/1-Bath, 2x 2-Bed/1-Bath

    Investment Highlights

    NON-RSO | Subject to State AB 1482
    Current 7.05% Cap Rate and 9.51 GRM
    Fully renovated and renting near market with ADU potential
    Perfect Cash Flow opportunity with extremely low maintenance
    Located near $6 billion worth of new development
    Parking and laundry collect an additional $700/mo. in income

    Property Overview

    1626 Pine Ave in Long Beach, CA, presents an exceptional investment opportunity with a current 7.05% Cap Rate and 9.51 GRM, with potential to reach 9.2% Cap and 7.75 GRM once all units are rented at market rates and ADUs are built out. This property is ideal for investors seeking strong cash flow and low maintenance, as all units have been recently renovated with new floors, appliances, and fixtures. The property is not subject to RSO and falls under State AB 1482. The property comprises 12 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units. It offers 10 on-site parking spaces, generating $500/month in income, and an additional $200/month from laundry facilities. The strategic location benefits from its proximity to over $6 billion in new developments in Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island. This offering provides a compelling investment in a rapidly developing area, ensuring sustained demand and potential for appreciation. The combination of recent renovations, strong current and projected returns, and a prime location near significant urban revitalization projects makes 1626 Pine Ave a highly attractive asset for any discerning investor.