Mixed-use investment property on highly trafficked Pacific Avenue. Two buildings including retail store front and residential 4-plex with potential for upside. Front building is a ± 2,280 SQFT retail store front, ideal for an owner/user. Rear building is a two-story ± 1,600 SQFT building with 4 studio apartments and 4 surface parking spaces. All residential units are occupied and have been recently rehabbed with new floors, new wall heaters, and updated cabinets. Seller financing available. Seller is in the process of raising several of the rents. Priced to sell at 5.7% CAP on ACTUAL. 2345 Pacific Avenue recently sold at a 5% CAP on actual. Located directly across from the popular Northgate market on the well-patronized Pacific Avenue corridor of South Wrigley. Situated between W Hill Street and W 21st Street and just minutes from Downtown Long Beach.
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Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 4
Bathrooms: 4
Interior area
Total interior livable area: 3,880 sqft
Property
Lot
Size: 4,701 Square Feet
Details
Parcel number: 7205028025
Construction
Type & style
Home type: Unknown
Condition
Year built: 1953
Community & HOA
Location
Region: Long Beach
Financial & listing details
Price per square foot: $261/sqft
Tax assessed value: $1,012,943
Annual tax amount: $14,065
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