Skip to main content

Multifamily

2032 Pine Ave

2032 Pine Ave, Long Beach, CA 90806

Listing Price: $1,668,000

Cap Rate
6.76%
Number of Units
8
GRM
10.07
Price/Unit
$208,500
Price/Gross SF
$382.57
Gross SF
4,360

Investment Overview

Marcus & Millichap is pleased to present to market 2032 Pine Avenue, an eight-unit multifamily investment property in Long Beach, California. The asset is a 1948 construction on a gated lot and offers a single-story fourplex and a rear two-story building with two units above two brand new ADU’s. The unit mix consists of four one-bed/one-baths, three two-bed/one-baths, and one two-bed/two-bath, and the units are separately metered for gas and electricity. The property also offers on-site laundry.

2032 Pine Avenue is located on the border of the Wrigley and Poly High neighborhoods proximate to retail (WalkScore: 84) and the Metro Blue Line. The area is a dense rental market with consistently low vacancy rates.

Current rents offer a new investor 14 percent rental upside.

2032 Pine Avenue is offered for sale as part of a portfolio along with 1151 Pacific Avenue, a fourplex in Long Beach, and 1209 Olive Avenue, a six-unit building also in Long Beach. Properties available separately or together.

Investment Highlights

  • Eight-unit apartment complex with two brand new ADU's
  • Property comprises a single-story fourplex and a rear two-story building with two units above two new ADU's
  • Mix of four one-bedroom and four two-bedroom units
  • 14 Percent rental upside
  • Property offers controlled access and on-site laundry
  • Located on the border of the Wrigley and Poly High neighborhoods proximate to retail and the Metro Blue Line
  • Offered as part of a Long Beach portfolio sale along with 1151 Pacific Avenue, a fourplex, and 1209 Olive Avenue, a six-unit building. Properties available separately or together

Exclusively Listed By

Multifamily

2032 Pine Ave

Listing Price: $1,668,000

Cap Rate
6.76%
Number of Units
8
GRM
10.07
Price/Unit
$208,500
Price/Gross SF
$382.57
Gross SF
4,360

Investment Highlights

  • Eight-unit apartment complex with two brand new ADU's
  • Property comprises a single-story fourplex and a rear two-story building with two units above two new ADU's
  • Mix of four one-bedroom and four two-bedroom units
  • 14 Percent rental upside
  • Property offers controlled access and on-site laundry
  • Located on the border of the Wrigley and Poly High neighborhoods proximate to retail and the Metro Blue Line
  • Offered as part of a Long Beach portfolio sale along with 1151 Pacific Avenue, a fourplex, and 1209 Olive Avenue, a six-unit building. Properties available separately or together

Investment Overview

Marcus & Millichap is pleased to present to market 2032 Pine Avenue, an eight-unit multifamily investment property in Long Beach, California. The asset is a 1948 construction on a gated lot and offers a single-story fourplex and a rear two-story building with two units above two brand new ADU’s. The unit mix consists of four one-bed/one-baths, three two-bed/one-baths, and one two-bed/two-bath, and the units are separately metered for gas and electricity. The property also offers on-site laundry. 2032 Pine Avenue is located on the border of the Wrigley and Poly High neighborhoods proximate to retail (WalkScore: 84) and the Metro Blue Line. The area is a dense rental market with consistently low vacancy rates. Current rents offer a new investor 14 percent rental upside. 2032 Pine Avenue is offered for sale as part of a portfolio along with 1151 Pacific Avenue, a fourplex in Long Beach, and 1209 Olive Avenue, a six-unit building also in Long Beach. Properties available separately or together.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower