Log In/Sign Up
Your email has been sent.
1123 Pacific Ave 2 Unit Apartment Building $1,212,688 CAD ($606,344 CAD/Unit) 3.64% Cap Rate Long Beach, CA 90813
Investment Highlights
- Located in Opportunity Zone with PD-30 Zoning - High Density
- Includes 14 Open Parking Spaces and 4 Garages
- Oversized 7,444 SF Lot with potential to add multiple ADUs
- Can be sold with the Adjacent 5 Units
Executive Summary
High-density development opportunity situated on a 7,444 square-foot lot in a centrally located in the rapidly growing downtown Long Beach market. The property consists of one 1-bedroom, 1-bath units, along with one studio unit. On-site parking is abundant, including four single-car garages and multiple uncovered spaces, providing convenience for residents and guests. The site is zoned PD-30, supporting a wide range of residential development possibilities. The zoning and location make this a compelling option for those seeking to expand or redevelop in a rapidly evolving area.
Data Room Click Here to Access
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$57,060
|
$63.40
|
| Other Income |
$16,592
|
$18.44
|
| Vacancy Loss |
$2,210
|
$2.46
|
| Effective Gross Income |
$71,442
|
$79.38
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$27,335
|
$30.37
|
| Net Operating Income |
$44,107
|
$49.01
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $57,060 |
| Annual Per SF | $63.40 |
| Other Income (CAD) | |
|---|---|
| Annual | $16,592 |
| Annual Per SF | $18.44 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,210 |
| Annual Per SF | $2.46 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $71,442 |
| Annual Per SF | $79.38 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $27,335 |
| Annual Per SF | $30.37 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $44,107 |
| Annual Per SF | $49.01 |
Property Facts In Escrow
| Price | $1,212,688 CAD | Building Class | C |
| Price Per Unit | $606,344 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 900 SF |
| Cap Rate | 3.64% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LBCO - PD-30 HIGH DENISTY No Parking Requirements Up to 80 Feet Unlimited Density (as long as the project falls within the City's Parameters) | ||
| Price | $1,212,688 CAD |
| Price Per Unit | $606,344 CAD |
| Sale Type | Investment |
| Cap Rate | 3.64% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 900 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | LBCO - PD-30 HIGH DENISTY No Parking Requirements Up to 80 Feet Unlimited Density (as long as the project falls within the City's Parameters) |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Kitchen
- Patio
- Quartz Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,259 CAD | 400 |
| 1+1 | 1 | $2,388 CAD | 500 |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 7272-005-010 | Improvements Assessment | $317,177 CAD (2025) |
| Land Assessment | $575,346 CAD (2025) | Total Assessment | $892,522 CAD (2025) |
Property Taxes
Parcel Number
7272-005-010
Land Assessment
$575,346 CAD (2025)
Improvements Assessment
$317,177 CAD (2025)
Total Assessment
$892,522 CAD (2025)
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1123 Pacific Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.