Seller's Agent in 2023
Shane Young
Younglewin Advisors, Inc.
(562) 556-1118
1 in this area
30 Total Sales
1952 Pine Ave Long Beach, CA 90806
Southeast Wrigley Neighborhood
2
Beds
1
Bath
4,718
Sq Ft
6,740
Sq Ft Lot
Highlights
- Private Yard
- Long Beach Polytechnic High School Rated A
- Bike Trail
About This Home
As of June 2023We are pleased to present the opportunity to purchase a rare, value-add offering that is cash flowing at a current 5.24% Cap Rate. The high cash flow provides a buyer the opportunity to purchase at a 60%+ LTV. Pine Ave consists of six units that have large floor plans situated on a 6,740 sq ft lot. Additionally, there is significant upside potential to add an additional two ADU units, and to utilize the two common courtyards for tenant amenities. 1952 Pine also benefits from four single car garages which are a commodity in Long Beach. Located near Downtown Long Beach, and proximate to the 710 & 405 Freeways, this is a strong rental location that will benefit a first time or seasoned investor.
Note - the property consists of large 1bedroom units which operate as 2bedroom units.
Last Agent to Sell the Property
Younglewin Advisors, Inc. License #01963090 Listed on: 02/21/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 6,740 Sq Ft Lot
- Two or More Common Walls
- Sprinkler System
- Private Yard
- Back and Front Yard
- Value in Land
Parking
- 4 Car Garage
Home Design
- Apartment
Interior Spaces
- 4,718 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas, parking fee
- Legal Lot and Block 9 / B
- Tax Tract Number 573002
- Assessor Parcel Number 7209017012
- $1,174 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 6 Units
- Wrigley Area Subdivision
Recreation
- Bike Trail
Building Details
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,100
- Insurance Expense $1,971
- Professional Management Expense $5,088
- Trash Expense $2,640
- Water Sewer Expense $2,400
- Operating Expense $41,845
- Gross Income $130,950
- Net Operating Income $89,104
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/20/2023 06/20/23 | Sold | $1,620,000 | -4.6% | $343 / Sq Ft |
| 04/24/2023 04/24/23 | Pending | -- | -- | -- |
| 02/21/2023 02/21/23 | For Sale | $1,699,000 | +58.0% | $360 / Sq Ft |
| 04/06/2018 04/06/18 | Sold | $1,075,000 | -2.2% | $228 / Sq Ft |
| 02/23/2018 02/23/18 | Pending | -- | -- | -- |
| 02/15/2018 02/15/18 | For Sale | $1,099,000 | -- | $233 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Shane Young
-
Sam Alherech
Buyer's Agent in 2023
Sam Alherech
Buckingham Investments, Inc
(347) 517-6790
1 in this area
21 Total Sales
-
A
Seller's Agent in 2018
Abel Bratton
Onyx Realty & Finc. Serv., Inc
-
Carlos Skubacz
Seller Co-Listing Agent in 2018
Carlos Skubacz
RE/MAX
(714) 290-0936
23 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23021166
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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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