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1958 Pine — Long Beach | Belmont Brokerage

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$2,030,000

6,742 sqft lot|1953 Built|0 DOM

1958 Pine, Long Beach, CA 90806

Property Description

Priced to sell! This well-performing 10-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1958 Pine. Offering memorandum in supplemental materials.

Listing provided by: Malcolm ZegerDRE #02013882310-982-7055 malcolm.zeger@buckinghaminvestments.com, Buckingham Investments, Inc

MLS #: SB26098552