939 Pacific Ave Long Beach, CA 90813
Willmore NeighborhoodEstimated payment $19,569/month
Total Views
442
1
Bed
1
Bath
7,836
Sq Ft
$383
Price per Sq Ft
About This Home
We are pleased to present 939 Pacific Avenue, a fully renovated thirteen-unit apartment complex located just outside the historic Drake Park/Willmore City neighborhood in Downtown Long Beach. Situated less than a block from the K-9 Corner Dog Park and a short bike ride to The Promenade and City Place Shopping Center, this property benefits from the continued revitalization of the Downtown Long Beach corridor. Tenants enjoy walkable access to retail, dining, entertainment, and major employment centers, along with excellent transit connectivity and a Walk Score of 93. The property consists of thirteen (13) spacious 1-bedroom/1-bathroom units, each averaging approximately 600 square feet. All units were fully remodeled by the previous owner in 2018–2019 with high-end finishes including quartz countertops, real wood shaker cabinetry, recessed lighting, stainless steel appliances, ceramic tile in wet areas, updated electrical, and new flooring. Exterior improvements during the same period included new dual-pane vinyl windows, fencing and gates, drought-tolerant landscaping, garage doors with openers, upgraded lighting, and a permitted outdoor BBQ area. In 2023, the current owner repaired or replaced all HVAC units as needed and upgraded the main electrical panel—demonstrating pride of ownership and a commitment to ongoing maintenance. Additional features include a coin-operated laundry room that generates supplemental income and a storage room that is currently unused, offering potential for added income or repurposing. The property also includes six (6) on-site garages, two of which are
currently not in use and may be rented for additional income or potentially converted to ADUs (buyer to verify). One unit is currently move-in ready, offering immediate upside through lease-up at market rent. Priced at a 5.5% cap rate with over 11% rental upside, 939 Pacific Avenue offers investors a well-maintained, turn-key asset in one of Long Beach’s most supply-constrained and appreciating coastal submarkets.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 714-655-0098 License #02060007 Listed on: 07/07/2025
Property Details
Home Type
- Apartment
Year Built
- Built in 1959
Lot Details
- 7,506 Sq Ft Lot
- No Common Walls
Parking
- 6 Car Garage
Interior Spaces
- 7,836 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Listing and Financial Details
- Legal Lot and Block 2 / 10
- Tax Tract Number 11934
- Assessor Parcel Number 7272012009
- $2,302 per year additional tax assessments
Community Details
Building Details
- 14 Separate Electric Meters
- 14 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,727
- Fuel Expense $2,727
- Insurance Expense $14,128
- Maintenance Expense $9,750
- Professional Management Expense $13,004
- Trash Expense $2,727
- Water Sewer Expense $2,727
- Operating Expense $94,938
- Gross Income $267,900
- Net Operating Income $165,136
Additional Features
- 13 Units
- Laundry Facilities
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/07/2025 07/07/25 | For Sale | $3,000,000 | -- | $383 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Homes in Long Beach, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25149498
APN: 7272-012-009
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