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1958 Pine Ave 10 Unit Apartment Building $2,877,383 CAD ($287,738 CAD/Unit) 7.27% Cap Rate Long Beach, CA 90806
Investment Highlights
- Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate
- This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway
- New electrical meters and main
Executive Summary
Priced to sell! This well-performing 10-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1952 Pine.
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 | $2,877,383 CAD | Building Class | C |
| Price Per Unit | $287,738 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 7,160 SF |
| Cap Rate | 7.27% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.85 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1953 |
| Property Type | Multifamily | Parking Ratio | 0.28/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LBR4R - Multi-Family Medium Density | ||
| Price | $2,877,383 CAD |
| Price Per Unit | $287,738 CAD |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| Gross Rent Multiplier | 8.85 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,160 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 0.28/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBR4R - Multi-Family Medium Density |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,970 CAD | 884 |
| 2+1 | 1 | $2,906 CAD | 884 |
| 2+1 | 1 | $2,544 CAD | 884 |
| 2+1 | 2 | $2,828 CAD | 884 |
| 1+1 | 1 | $2,828 CAD | 450 |
| 1+1 | 2 | $2,403 CAD | 450 |
| 1+1 | 1 | $2,261 CAD | 450 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7209-017-010 | Total Assessment | $3,413,430 CAD |
| Land Assessment | $1,452,523 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,960,906 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7209-017-010
Land Assessment
$1,452,523 CAD
Improvements Assessment
$1,960,906 CAD
Total Assessment
$3,413,430 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1958 Pine Ave
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