Long Beach, CA 90806 2219 Pine Avenue
$2,299,000
Presented By: Marvin Malone with Amberwood Real Estate, Inc.; 562-377-2370
Beds • 2
Baths • 1
SQFT • 6,440
Garage • 4
Year Built • 1948
Home Details
PRICE JUST REDUCED!! This 10-Unit Apartment Building is a Great Investment for an Investor. Located in the South Wrigley Area with a Market Cap Rate of 6.2%. The Property has been Well-Maintained, with a Great Upside Potential on the Future Rental Income!! This Property Offers (3) 2 Bedrooms -1 Bathroom, (6) 1 Bedrooms - 1 Bathroom and (1) Bonus Room/Studio -1 Bathroom. Four of the Units have been Recently Remodeled, and the Exterior was Recently Painted. The Property also has (4) Single Car Garages that can be a Great Opportunity to convert into ADU'S for Additional Income, and it has (4) Parking Spaces for Extra Income. The Owner just recently Installed a Newer Roof. All Units are Separately Metered for Gas and Electric. This 10-Unit Apartment Building is Located in a High Demand Rental Area!! This Apartment Building in Conveniently Located Close to Shopping, Restaurants, Entertainment, Metro Link, Long Beach Airport Downtown LB, Civic Center, Long Beach Aquarium, Downtown Village, CSULB and Queen Mary Island.
Presented By: Marvin Malone with Amberwood Real Estate, Inc.; 562-377-2370
Interior Features for 2219 Pine Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace Y/NNo
FlooringCarpet, Wood
Heating Y/NYes
Interior AmenitiesMultipleStaircases
Laundry FeaturesCommonArea, WasherHookup, GasDryerHookup, LaundryRoom
Total Stories2
Other Rooms
Entry Level1
General for 2219 Pine Avenue
Additional Parcels Y/NNo
AppliancesWaterHeater
Architectural StyleContemporary
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.23
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, StreetLights, Sidewalks
Construction MaterialsStucco
ContingencySeller Will Be Doing a 1031 Exchange
CoolingNone
CountyLos Angeles
DirectionsS/Willow & W/Long Beach Blvd
ElectricVolts220
Electric Expense360.0
Electric On Property Y/NNo
Entry LocationWest
Facing DirectionEast
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income1000.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense7500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, Conventional, Exchange1031
Lot Size Square Feet6623.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
MaintenanceExpense7000.0
MobileHomeRemainsYNNo
Net Operating Income148328.0
New ConstructionNo
Number Of Units Total10
Open Parking Spaces2.0
Operating Expense46984.0
Pool FeaturesNone
PossessionClosePlus3Days
Property Attached Y/NYes
Property ConditionUpdatedRemodeled
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
RoofComposition
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameWrigley Area (WR)
Tax Lot24
Taxes$17,599
Tenant PaysElectricity, Gas
Total Actual Rent16276.0
Trash Expense0.0
UtilitiesCableConnected, ElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
Water Sewer Expense4500.0
Waterfront Y/NNo
Year Built1948
Year Built SourceAssessor
ZoningLBR2N
Exterior for 2219 Pine Avenue
Building Area Total6440.0
Crops Included Y/NNo
FencingWood
Foundation DetailsRaised
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixToTenUnitsAcre
Lot Size Acres0.152
Lot Size Area6623.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters10
Number of Separate Gas Meters10
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesDoorSingle, Garage, OnSite, OffStreet, GarageFacesRear
Private PoolNo
Road Frontage TypeAlley, CityStreet
Road Surface TypePaved
SpaNo
Total Parking6.0
Water SourcePublic
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$2,299,000
MLS#PW24201464
List Date
10/17/2024
Property Type
Multi-Family
Phone
(562) 537-4182
