1111 Pine Ave — Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90813

Photos

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Investment Figures

Cap rate
5.33%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap, as the exclusive listing agent, is pleased to present 1111 Pine Avenue, a 12-unit multifamily investment opportunity located in Long Beach, California. Built in 1922, 1111 Pine Avenue features a unit mix of 7 studios and 5 1-bed/1-bath units totaling approximately 6,142 square feet of net rentable area. The property offers a gated central courtyard, on-site laundry facility and 4 garage parking spaces. The property has benefited from extensive improvements under current ownership, with most units substantially renovated as vacancies occurred over roughly the last decade. Five units have been recently renovated with all-new kitchens and bathrooms, including 4 currently vacant units whose renovations were just completed and are positioned to be leased at current market rental rates. Renovated interiors feature a mix of updated cabinetry, countertops and flooring as well as recessed lighting, with finishes varying by unit. Ownership has also invested in the building’s major systems, including new copper plumbing and updated electrical. Together with the extensive interior renovation history, these improvements represent meaningful capital investment in the property and provide a stronger physical foundation for future ownership. Current rents remain below prevailing market levels, providing additional long-term income growth potential. More immediately, the 4 newly renovated vacant units allow an incoming owner to establish market rents on one-third of the property at acquisition. Combined with the substantial improvements already completed throughout the building, 1111 Pine Avenue offers a compelling balance of current condition, near-term lease-up potential and longer-term rental upside. Investment Highlights: • 12-Unit Long Beach Multifamily: 6,142 SF comprising 7 studios and 5 1-bed/1-bath units. • Immediate Lease-Up Potential: Four newly renovated, vacant units are ready to capture top-of-market rents on day one. • Major Systems Overhauled: Si

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.

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