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1626 Pine Ave 14 Unit Apartment Building $3,977,060 CAD ($284,076 CAD/Unit) 6.99% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Fully renovated and renting near market with ADU potential
- Located near $6 billion worth of new development
- Current 6.99% Cap Rate and 9.57 GRM
- Perfect Cash Flow opportunity with extremely low maintenance
- Parking and laundry collect an additional $700/mo. in income
- 10 Parking Spaces with 7 Total Single Car Garages
EXECUTIVE SUMMARY
Renovated and current 6.99% Cap and 9.57 GRM with ADU potential! 1626 Pine Ave, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance. All units are renovated with new floors, appliances, and fixtures. Once all units are rented at market and ADUs are built out, the property will operate at a 7.79% Cap and 8.81 GRM.
The property is comprised of (12) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units. 1626 Pine Ave has 10 parking spaces on site and collects $500/month in parking income. Additionally, the property collects $200/month in laundry.
Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.
The property is comprised of (12) 1-Bed/1-Bath and (2) 2-Bed/1-Bath units. 1626 Pine Ave has 10 parking spaces on site and collects $500/month in parking income. Additionally, the property collects $200/month in laundry.
Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,977,060 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $284,076 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.99% | Building Size | 7,780 SF |
| Gross Rent Multiplier | 9.57 | Average Occupancy | 80% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Zoning | R4R | ||
| Price | $3,977,060 CAD |
| Price Per Unit | $284,076 CAD |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| Gross Rent Multiplier | 9.57 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,780 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | R4R |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Zen Garden
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $28,206 CAD | - |
| 2+1 | 2 | $5,348 CAD | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 7269-011-003 | Total Assessment | $3,626,484 CAD |
| Land Assessment | $1,234,546 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,391,937 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
7269-011-003
Land Assessment
$1,234,546 CAD
Improvements Assessment
$2,391,937 CAD
Total Assessment
$3,626,484 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1626 Pine Ave
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