1950 Pacific Ave

Investment Highlights

Property Overview

1950 Pacific Ave presents a rare value-add opportunity to acquire an 11-unit multifamily asset in Long Beach, CA. The property boasts strong in-place cash flow and includes two newly constructed ADUs, offering investors a clean combination of existing income and newer added rental units. The desirable unit mix consists of 1-bedroom and 2-bedroom units, providing continued upside in rents. Built in 1962, the property spans approximately 6,733 square feet of building area on an 8,591 square foot lot. Current scheduled rents total approximately $19,559 per month, or $234,712 annually, with market rents projected at approximately $21,940 per month before additional garage income, bringing total annualized market income to approximately $270,480. At the asking price of $2,300,000, the property is priced at approximately $209K per unit and $267 per net rentable square foot. The asset currently operates at a 9.80 GRM and 7.03% cap rate, with the ability to move toward an 8.50 GRM and 8.54% cap rate at market rents. This offering provides investors with strong current income, two newly built ADUs, and a clear path for additional rent growth in a central Long Beach location. With multiple units still below market and the ADU income already in place, 1950 Pacific Ave offers a compelling value-add opportunity with both immediate cash flow and long-term upside.