$3,000,000

Estimated payment $19,314/month

Total Views 1,674
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

Chris van Vuuren

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 714-655-0098 License #02060007 Listed on: 07/07/2025

Lyon Stahl Investment Real Estate, Inc.

Co-Listing Agent

Cris Molles

The Realestate Group Brokerage Phone: 714-655-0098 License #01345419

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

Property Details

Home Type

Apartment

Year Built

Built in 1959

Lot Details

0

Parking

6

Listing Details

  • Price Per Unit: 230769
  • Professional Management Expense: 13004.00
  • Property Attached: No
  • Water Sewer Expenses: 2727.00
  • Zoning: LBCO
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7272012009
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: walk-up
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 382.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 2727.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 7506.00
  • Lot Size Acres: 0.1723

Multi Family

  • Electric Expense: 2727.00
  • Fuel Expense: 2727.00
  • Gross Income: 267900.00
  • Gross Operating Income: 260074.00
  • Gross Scheduled Income: 267900.00
  • Insurance Expense: 14128.00
  • Lot Size Area: 7506.0000 Square Feet
  • Maintenance Expense: 9750.00
  • Net Operating Income: 165136.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 13
  • Operating Expense: 94938.00
  • Rent Control: No
  • Total Expenses: 94938.00
  • Vacancy Allowance: 7826

Tax Info

  • Tax Block: 10
  • Tax Census Tract: 5758.03
  • Tax Lot: 2
  • Tax Tract Number: 11934
  • TaxOtherAnnualAssessmentAmount: 2302.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25149498

California Regional Multiple Listing Service (CRMLS)

APN: 7272-012-009