Description
We are pleased to present the opportunity to purchase a rare, value-add offering that is cash flowing at a current 5.24% Cap Rate. The high cash flow provides a buyer the opportunity to purchase at a 60%+ LTV. Pine Ave consists of six units that have large floor plans situated on a 6,740 sq ft lot. Additionally, there is significant upside potential to add an additional two ADU units, and to utilize the two common courtyards for tenant amenities. 1952 Pine also benefits from four single car garages which are a commodity in Long Beach. Located near Downtown Long Beach, and proximate to the 710 & 405 Freeways, this is a strong rental location that will benefit a first time or seasoned investor.
Note - the property consists of large 1bedroom units which operate as 2bedroom units.
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Listing Agent: Shane Young Courtesy of: Younglewin Advisors, Inc. The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 22nd March, 2023 2:50 AM (UTC)
