1113 Pacific Avenue

Long Beach, CA 90813

$1,400,000
Last Sold Price
15
Beds
5
Baths
5,468 Sq. Ft.
$256 / Sq. Ft.
5,468
Sq. Ft.
$256
per Sq. Ft.

Description

1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the...1113 Pacific Avenue presents an opportunity for a purchaser to follow the lead of the current ownership in a value-add apartment complex located in the Willmore District. With significant gross square footage available, rent increases and vacancies can result in a considerable improvement of income, and a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency. The property has been operated as a 4 Unit for 20+ years, although is listed on the assessor as a 5-Unit. Featuring: 4 Units Across 2 Structures; One 6 Bedroom + 2 Bathroom Ground Floor Unit, One 4 Bedroom +1 Bathroom Unit, One 3 Bedroom + 1 Bathroom House , One 2 Bedroom + 1 Bathroom Unit; 5,468 Gross Square Feet; Individually Metered For Electricity & Gas - House Pays Own Water; 4 Garage Spaces; LBCO Zoning; 7,447 SF Lot
  1. Listed by David Harrington • DRE #01320460 • Brokerage DRE #01469842 • Matthews Real Estate Investment Services

Property Details for 1113 Pacific Avenue

Zoning
LBCO
Parcel Number
7272005011
Total Units
4.0
Living Area
5468
Source Living Area
Vendor Enhanced
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
0
Lot Size Area
7447

Location

Listing Courtesy of Matthews Real Estate Investment Services, David Harrington, DRE #01320460

Sold By Keller Williams Beach Cities, Martin Ensbury, DRE #00815392

Add your commute
LISTING UPDATED: 07/19/2022 04:14 PM

Property Details for 1113 Pacific Avenue

StatusSold
MLS #22-155515
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1907
Lot Size0.17 AC / 7,447 SF
CountyLos Angeles County

Location

Listing Courtesy of Matthews Real Estate Investment Services, David Harrington, DRE #01320460

Sold By Keller Williams Beach Cities, Martin Ensbury, DRE #00815392

Add your commute

Building Information for 1113 Pacific Avenue

Stories2Residences-Year Built1907Building Size-Lot Size0.17 AC / 7,447 SF

Payment Calculator

$9,190 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,640

Property Taxes

$1,550

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1113 Pacific Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Large
  • Security Features: Gated
  • Direction Faces: East
  • Water Heaters: Yes
  • Water Heater Features: Gas
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $79,559
  • Net Operating Income: $50,424.00
  • Gross Income: $82,020
  • Gross Rent Multiplier: $16.92
  • Total Annual Expense: 29136
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.171
  • Lot Size Square Feet: 7447
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Detached
  • Total Parking: 4
  • Garage Spaces Total: 4
  • Parking Features: Detached Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating Type: Wall Gas
  • Equipment: Refrigerator, Range/Oven
  • Bathroom Features: Shower and Tub
  • Common Walls: Attached
  • Cooking Appliances: Oven
  • Laundry: In Unit
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Construction MVO: Frame and Stucco
  • Other Structural Features: Balcony, Two On A Lot
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 05-11-2022
Unit Details
Unit 1 Information
  • Unit Beds: 6
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,440.00
  • Unit Actual Rent: $2,440.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,780.00
  • Unit Actual Rent: $1,780.00
  • Unit Projected Rent: $2,400.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 4
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,460.00
  • Unit Actual Rent: $1,460.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,155.00
  • Unit Actual Rent: $1,155.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $401,403.00
  • Assessed Improvement Percent: 61.86
  • Assessed Land Value: $247,528.00
  • Assessed Land Percent: 38.14
  • Assessed Total Value: $648,931.00

Property History for 1113 Pacific Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1113 Pacific Avenue

Taxable ValueLand$850,000Additions$550,000Total$1,400,000
Tax Record2023$18,605 ($1,550 / month)
Home Facts
Total Finished SqFt5,468 SqFtAbove Grade Finished SqFt5,468 SqFtLot Size7,447 SqFtStyleMulti-Family Res (5+ Units)Year Built1907ZoningLBCOCountyLOS ANGELESAPN7272-005-011

Schools near 1113 Pacific Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
International Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Matthews Real Estate Investment Services, David Harrington, DRE #01320460

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.