1111 Pine AVE, Long Beach, CA 90813
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1111 Pine AVE, Long Beach, CA 90813
1111 Pine AVE, Long Beach, CA 90813
1111 Pine AVE, Long Beach, CA 90813
1111 Pine AVE, Long Beach, CA 90813
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Frances Mouser Moon

Frances Mouser Moon

+1(760) 273-5315
$ 2,125,000
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1111 Pine AVE Long Beach, CA 90813

7,405 Sqft Lot

UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26199510

HOA Y/N No

Year Built 1922

Lot Size 7,405 Sqft

Property Sub-Type Apartment

Property Description

1111 Pine Avenue is a 12-unit multifamily investment opportunity located in Long Beach, California. Built in 1922, 1111 Pine Avenue features a unit mix of 7 studios and 5 1-bed/1-bath units totaling approximately 6,142 square feet of net rentable area. The property offers a gated central courtyard, on-site laundry facility and 4 garage parking spaces. The property has benefited from extensive improvements under current ownership, with most units substantially renovated as vacancies occurred over roughly the last decade. Five units have been recently renovated with all-new kitchens and bathrooms, including 4 currently vacant units whose renovations were just completed and are positioned to be leased at current market rental rates. Renovated interiors feature a mix of updated cabinetry, countertops and flooring as well as recessed lighting, with finishes varying by unit. Ownership has also invested in the building's major systems, including new copper plumbing and updated electrical. Together with the extensive interior renovation history, these improvements represent meaningful capital investment in the property and provide a stronger physical foundation for future ownership. Current rents remain below prevailing market levels, providing additional long-term income growth potential. More immediately, the 4 newly renovated vacant units allow an incoming owner to establish market rents on one-third of the property at acquisition. Combined with the substantial improvements already completed throughout the building, 1111 Pine Avenue offers a compelling balance of current condition, near-term lease-up potential and longer-term rental upside.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7273005038

Energy Description 4360.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

NEARBY SCHOOLS & PROPERTIES

Frances Mouser Moon

Frances Mouser Moon

Team Leader License ID: 01309623

+1(760) 273-5315

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