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$ 1,850,000
Est. payment | /mo
7,457 Sqft Lot
$ 1,850,000
Est. payment | /mo
7,457 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID PW26063703
HOA Y/N No
Year Built 1943
Lot Size 7,457 Sqft
Property Sub-Type Apartment
Property Description
Exceptional 8-Unit Investment Opportunity in Long Beach – Value-Add with ADU Potential!
Introducing 2444 Pacific Ave, a rare opportunity to acquire a well-located 8-unit apartment building in the heart of the Wrigley area of Long Beach. This income-producing property offers investors immediate cash flow with significant upside potential through strategic improvements and additional accessory dwelling unit development. The property features eight residential units complemented by five detached garages, presenting a prime opportunity for conversion into Accessory Dwelling Units (ADUs) (buyer to verify with city). This added value component provides a clear path to increasing rental income and maximizing long-term returns. Situated on a desirable stretch of Pacific Avenue, the property benefits from strong rental demand, proximity to major transportation corridors, local retail, dining, and employment hubs. Tenants enjoy convenient access to everything Long Beach has to offer, making this an attractive and stable investment location.
Highlights Include:
-8-unit multifamily property with strong in-place income
-Upgraded electrical and plumbing
-SB 721 inspection completed and passed
-5 garages with excellent ADU conversion potential
-Value-add opportunity through unit upgrades and increased rents
-Prime location with high tenant demand
-Ideal for investors seeking long-term growth and cash flow
- Current Cap - 5.87 Market Cap - 6.87
- Current GRM - 12.18 Market GRM 10.32
Whether you're looking to expand your portfolio or capitalize on Long Beach's thriving rental market, 2444 Pacific Ave delivers both stability and upside in one compelling investment. The property is professionally managed. Buyer to verify all information.
Introducing 2444 Pacific Ave, a rare opportunity to acquire a well-located 8-unit apartment building in the heart of the Wrigley area of Long Beach. This income-producing property offers investors immediate cash flow with significant upside potential through strategic improvements and additional accessory dwelling unit development. The property features eight residential units complemented by five detached garages, presenting a prime opportunity for conversion into Accessory Dwelling Units (ADUs) (buyer to verify with city). This added value component provides a clear path to increasing rental income and maximizing long-term returns. Situated on a desirable stretch of Pacific Avenue, the property benefits from strong rental demand, proximity to major transportation corridors, local retail, dining, and employment hubs. Tenants enjoy convenient access to everything Long Beach has to offer, making this an attractive and stable investment location.
Highlights Include:
-8-unit multifamily property with strong in-place income
-Upgraded electrical and plumbing
-SB 721 inspection completed and passed
-5 garages with excellent ADU conversion potential
-Value-add opportunity through unit upgrades and increased rents
-Prime location with high tenant demand
-Ideal for investors seeking long-term growth and cash flow
- Current Cap - 5.87 Market Cap - 6.87
- Current GRM - 12.18 Market GRM 10.32
Whether you're looking to expand your portfolio or capitalize on Long Beach's thriving rental market, 2444 Pacific Ave delivers both stability and upside in one compelling investment. The property is professionally managed. Buyer to verify all information.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Sidewalks, Urban
Total Parking Spaces 5
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7205008016
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Trust
Listed by Perry Karn Southland Property Group 562-519-0099, DRE #01963224
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