USACALong BeachPoly High (Ph)1700 Pacific Ave
1700 Pacific | Image 1
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$2,145,000

1700 Pacific Ave, Long Beach, CA

Condo

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage Yes
HOA Fees 
Taxes 
Days Active 0
Approx. Age 1964
MLS® Number PW25182296

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Present All Offers! We are pleased to present a 10 unit investment opportunity located at 1700 Pacific Ave in Long Beach. All major systems have been redone, including new electric (main and sub panels), ABS plumbing systems, new vinyl windows, and the roof is in great condition as well. At a current 5.44% Cap Rate, and 11.2 GRM with upside to a 7.01% Cap Rate and 9.5 GRM, this is priced attractively & below the area average. In addition to all of the major improvements to the property, the tenants benefit from a rear roof deck, onsite laundry room (hookups with no machines), as well as onsite parking. There is ample retail and dining options nearby, and being located just off Pacific Coast Hwy, the central location allows for easy commute to downtown, the beach, and easy access to 710/405 Freeways. The property is also steps away from numerous new construction apartment buildings, retail centers, the $176 million reconstruction of Washington Middle School’s five-acre campus & the $450 million Poly High School campus renovation. In addition to the 27% upside in Net Operating Income, there is even more opportunity with the potential to convert the existing garage and rear parking area + roof deck into ADUs. One can reasonably get an additional 4+ units onsite for additional income and equity growth.Show Description
MLS® NumberPW25182296
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area, See Remarks
Exposure
Exterior
GarageYes
Approx. Age1964
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

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