1106 Pacific Ave Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated payment $19,606/month
Highlights
- 0.17 Acre Lot
- Laundry Room
- Wall Furnace
- Long Beach Polytechnic High School Rated A
- Paved or Partially Paved Lot
About This Home
Huge Price Reduction! Bring All Offers -Welcome to The Louis - Priced at an in-place 6.03% cap rate, the Louis iis a full renovated 12 unit apartment complex located in the heart of Long Beach, CA. This well-maintained property is comprised of (2) spacious 2-bedroom/1-bath units and (10) 1-bedroom/1-bath units, all of which were extensively remodeled with permits in 2019. Interiors feature modern finishes, and the units remain in excellent condition. That same year, the exterior received a full facelift, including new paint and a refreshed façade, enhancing the building’s curb appeal. Seller replaced the 100 gallon water heater in 2025. The property benefits from a stable tenant base, with approximately 10% rental upside remaining—offering investors immediate cash flow and future growth potential. Additionally, there are (6) on-site garages that present a compelling value-add opportunity: potential conversion into (3) ADUs (Accessory Dwelling Units), subject to Buyer verification. The Louis offers a rare blend of updated construction, long-term tenancy, and upside in one of Long Beach’s most active rental markets.
Listing Agent
eXp Realty of Greater L.A Brokerage Phone: 925-683-9203 License #01946829 Listed on: 06/17/2025
Property Details
Home Type
- Apartment
Year Built
- Built in 1963
Lot Details
- 7,507 Sq Ft Lot
- No Common Walls
- Paved or Partially Paved Lot
- Level Lot
Parking
- 6 Car Garage
Home Design
- Entry on the 1st floor
- Shingle Roof
Interior Spaces
- 8,203 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Utilities
- Wall Furnace
- Natural Gas Connected
- Sewer Assessments
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Tax Lot 5
- Tax Tract Number 5758
- Assessor Parcel Number 7273005013
- $2,207 per year additional tax assessments
Community Details
Overview
- 12 Units
- Willmore District Subdivision
Amenities
- Laundry Facilities
Building Details
- 12 Leased Units
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $523
- Fuel Expense $2,564
- Insurance Expense $12,000
- Maintenance Expense $9,000
- Other Expense $3,000
- Pest Control $600
- Professional Management Expense $13,788
- Water Sewer Expense $4,106
- New Taxes Expense $41,273
- Operating Expense $86,304
- Gross Income $283,700
- Net Operating Income $190,089
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/21/2025 07/21/25 | Price Changed | $3,150,000 | -7.1% | $384 / Sq Ft | |
| 06/17/2025 06/17/25 | For Sale | $3,390,000 | +2.7% | $413 / Sq Ft | |
| 05/28/2020 05/28/20 | Sold | $3,300,000 | -1.9% | $402 / Sq Ft | View Prior Sale |
| 03/23/2020 03/23/20 | Pending | -- | -- | -- | |
| 01/22/2020 01/22/20 | For Sale | $3,362,500 | +42.2% | $410 / Sq Ft | |
| 01/07/2019 01/07/19 | Sold | $2,365,000 | -1.5% | $288 / Sq Ft | View Prior Sale |
| 11/08/2018 11/08/18 | Pending | -- | -- | -- | |
| 09/25/2018 09/25/18 | For Sale | $2,400,000 | -- | $293 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS25135898
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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