1585 Pacific Avenue Long Beach, CA 90813

$2,250,000
1585 Pacific Avenue, Long Beach, CA 90813
Call 1-800-839-1363
OC18055273

Single Family Home for sale in Long Beach, CA

for $2,250,000. This home was built in 1963 on a lot size of 7555.00 Sqft..

Property Information

  • $2,250,000
  • Single Family
  • Traditional
  • Active
  • Lot size of 7555.00 Sqft.
  • Built in 1963
  • Long Beach, CA
  • Washington School Neighborhood
  • Los Angeles County
  • MLS/Web ID is OC18055273

Description

MARKET CAP = 6.65 !! MARKET GRM = 9.55 ! LARGE UNITS PLUS EXTRA BATHROOMS GIVE TREMENDOUS RENTAL UPSIDE @ +25%!! 8, 710 RENTABLE SQ FT - 10 UNIT!! VERY LOW AREA PRICE/SQ FT of $258/sq ft; GREAT PROPERTY FOR INVESTORS!! HIGH RENTAL DEMAND AREA! GREAT LONG TERM TENANTS! Current Cap Rate: 4.58%; Market Cap Rate: 6.65%; Strong Rental Market in Long Beach; +25% Upside Potential in Rents; LARGE Units with Attractive Unit Mix: 6 - Large Two Bedroom / Two Bathroom units; 2 '“ Large Three Bedroom / Two Bathroom units; 2 '“ Large One Bedroom / One Bathroom units; Separately Metered Electricity; New Windows plus many other upgrades done in past 24 months (see pics); Garage Parking; Keyed Security Gate Entry (front and rear); New Security Camera Surveillance System; Blocks from downtown - Shoreline Village, Long Beach Aquarium, Long Beach Grand Prix; Close to public transportation.CALL AGENT FOR SHOWING. DO NOT DISTURB TENANTS!

Interior 4

Building Amenities

  • Laundry

Flooring

  • Carpet(s)
  • Vinyl Tile

Heating System

  • Other
  • Wall Unit

Water Source

  • Public Water

Exterior 4

Exterior

  • Double Paned Windows

Fence

  • Fenced

Garage

  • 5+ Car

Roof

  • Composition

Miscellaneous 2

Commercial

  • Security Fence

Location

  • Suburban

Rental 1

Tenant Pays

  • Cable
  • Electric
  • Phone

† Excluded Feature

Listed By

Broker: GRASON HOMES

1585 Pacific Avenue, Long Beach, CA, 90813 is a Single Family Home for sale at $2,250,000 with a lot size of 7555.00 Sqft.. 1585 Pacific Avenue has 0.0 baths and was built in 1963. The property's zip code is 90813 which is in Long Beach, CA

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Pricing History

Date Price Price Change Description
4/10/2018 $2,250,000 -1.96 % Price Change
2/22/2018 $2,295,000 Listed Price

Market Pricing

Average % of sale price Median % of sale price
All listings in Long Beach $1,019,672 55 % below $750,000 67 % below
Single family listings in Long Beach $1,135,661 50 % below $858,500 62 % below

Get the facts about Long Beach, CA!

Population 472,821
Population Growth (since 2000) 2 %
Median Income $55,472
Median Age 34.78
Households w/ Children 31 %

Residential Dwellings

  • Owned 69941
  • Vacant 11388
  • Rented 97481

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