Long Beach, CA 90806 1845 Maine Avenue
$1,799,000
7 more
Presented By: Cody Charnell with Sage Real Estate Group, Inc.; 562-896-3851
Beds • 12
Baths • 12
SQFT • 4,690
Garage • 4
Year Built • 1923
Home Details
Great investment opportunity in the Wrigley neighborhood of Long Beach! This 12-unit property offers 30%+ upside in rental income and is surrounded by primarily single-family homes, making street parking more accessible. The property includes four garage spaces, providing potential for ADU conversions to increase cash flow.
Three units can be delivered vacant at close of escrow. Additional income streams include an on-site coin-operated laundry room. There is potential to implement RUBS to further boost cash flow.
Priced competitively at $149,917 per unit, this is an excellent value in a strong rental market. Don't miss out on this high-potential asset!
Presented By: Cody Charnell with Sage Real Estate Group, Inc.; 562-896-3851
Interior Features for 1845 Maine Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1845 Maine Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.1
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs
CountyLos Angeles
DirectionsNorth of PCH and West of Magnolia
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationCourtyard
Expected Active Date 2025-03-20
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income2400.0
HOANo
Home Warranty Y/NNo
Insurance Expense12000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet7173.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
MobileHomeRemainsYNNo
Net Operating Income91824.0
New ConstructionNo
Number Of Units Total12
Operating Expense69288.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot19
Trash Expense0.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1923
Year Built SourceAssessor
ZoningLBR1N
Exterior for 1845 Maine Avenue
Building Area Total4690.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesElevenToFifteenUnitsAcre
Lot Size Acres0.1647
Lot Size Area7173.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
Price
$1,799,000
MLS#PW25059042
List Date
03/18/2025
Property Type
Multi-Family
Phone
(310) 963-5595
