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1961 Pine Ave

4 Unit Block of Flats £863,490 (£215,873/Unit) 5.36% Net Initial Yield Long Beach, CA 90806

Executive Summary

Investors, welcome to 1961-1967 Pine Ave. Come find this charming 4-Unit low-maintenance property, ideal for both new investors and seasoned investors adding to their real estate portfolio. 4 homes, each with 2-bedrooms, 1-bath (3 1bed units functionally 2bed units). patios, separately metered for electricity and gas, allowing tenants to pay their own expenses. Each home is complimented with 1 of the 4 single-car garages. Adorable patio areas. The property is 100% fully rented, housing very long-term tenants. Located in vibrant Wrigley, moments from Blue Line Train, Long Beach Memorial Hospital, and tons of Shopping along Pacific Ave. You’re going to love this one.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts Under Contract

Price £863,490 Building Class C
Price Per Unit £215,873 Lot Size 0.15 AC
Sale Type Investment Building Size 3,108 SF
Net Initial Yield 5.36% Average Occupancy 100%
Gross Rent Multiplier 15 Number of Floors 1
No. Units 4 Year Built 1941
Property Type Residential Parking Ratio 1.29/1,000 SF
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Garden
Price £863,490
Price Per Unit £215,873
Sale Type Investment
Net Initial Yield 5.36%
Gross Rent Multiplier 15
No. Units 4
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.15 AC
Building Size 3,108 SF
Average Occupancy 100%
Number of Floors 1
Year Built 1941
Parking Ratio 1.29/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Site Amenities

  • Courtyard
  • Gated

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 4 £1,217 675
1 of 1
Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 7209-020-007 Total Assessment £429,118 (2024)
Land Assessment £211,773 (2024) Annual Taxes -£1 (£0.00/sf)
Improvements Assessment £217,346 (2024) Tax Year 2023

PROPERTY TAXES

Parcel Number
7209-020-007
Land Assessment
£211,773 (2024)
Improvements Assessment
£217,346 (2024)
Total Assessment
£429,118 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code LBR4R (Residential: The R-4-R district is a moderate density, multifamily residential district with restrictions on building height.)
LBR4R (Residential: The R-4-R district is a moderate density, multifamily residential district with restrictions on building height.)
(562) 394-7000

  • Listing ID: 33099634

  • Date on Market: 07/09/2024

  • Last Updated:

  • Address: 1961 Pine Ave, Long Beach, CA 90806

The Residential Property at 1961 Pine Ave, Long Beach, CA 90806 is currently available For Sale. Contact Seven Gables Real Estate for more information.

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1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 1 of 8
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1961 Pine Ave, Long Beach, CA for sale Primary Photo- Image 2 of 8
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1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 3 of 8
Walkway 01
1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 4 of 8
Walkway 02
1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 5 of 8
Patio Rear 01
1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 6 of 8
Patio 02
1961 Pine Ave, Long Beach, CA for sale Building Photo- Image 7 of 8
Garage 01

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1961 Pine Ave
(562) 394-7000 x

1961 Pine Ave

Julio Ayora

(562) 394-7000

(562) 394-7000

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