1883 Pine , Long Beach, CA 90806
  • MLS#: SB25222853 ( Apartment )
  • Street Address: 1883 Pine
  • Viewed: 4
  • Price: $2,095,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1979
  • Bldg sqft: 0
  • Days On Market: 39
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90806
  • Subdivision: Wrigley Area (wr)
  • Provided by: Buckingham Investments, Inc
  • Contact: Anthony Anthony
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    South Wrigley 8 Unit Turnkey Multifamily Property Built in 1979 with two new ADUs added in 2025, this stabilized, meticulously maintained 8 unit property in the desirable South Wrigley neighborhood offers a rare investment opportunity. The building features (4) updated 2 bedroom units (2) updated 1 bedroom units and (2) modern 2 bedroom ADUs, all in excellent condition. The main buildings units have been fully renovated with new cabinetry, countertops, ceramic tile and laminate flooring, appliances, electrical, plumbing, finish carpentry, hardware, interior/exterior doors, windows, and fresh paint inside and out. The 2025 built all electric, separately metered ADUs include in unit laundry and dedicated split unit air conditioners for added tenant comfort. Six rear garages were converted into the ADUs, with (4) parking spaces retained behind the building. The property also boasts a 2024 installed roof, upgraded block wall/fencing, and a new parking gate, all completed with permits. The main building units are also separately metered for gas and electricity. Priced attractively at a sub 10.5X GRM and a 6.2% cap rate, this turnkey property is located on a charming, tree lined residential street with head in parking. Its less than a mile from the 710 Freeway, under 2 miles from the 405, and just 2 miles north of the beach, offering unmatched convenience and appeal.
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Features
Accessibility Features
  1. None
Appliances
  1. Electric Oven
  2. Electric Range
  3. Gas Oven
  4. Gas Range
Architectural Style
  1. Contemporary
Assessments
  1. Special Assessments
Association Fee
  1. 0.00
Building Area Total
  1. 4666.00
Carport Spaces
  1. 0.00
Commoninterest
  1. None
Common Walls
  1. 2+ Common Walls
Construction Materials
  1. Stucco
Cooling
  1. Ductless
Country
  1. US
Current Financing
  1. Private
Direction Faces
  1. East
Electric
  1. Standard
Electric Expense
  1. 750.00
Fencing
  1. Wrought Iron
Fireplace Features
  1. None
Flooring
  1. Laminate
Foundation Details
  1. Slab
Fuel Expense
  1. 750.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 960.00
Heating
  1. Ductless
  2. Wall Furnace
Insurance Expense
  1. 8166.00
Interior Features
  1. Ceiling Fan(s)
Laundry Features
  1. In Closet
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. Rectangular Lot
Netoperatingincome
  1. 130169.00
Newtaxesexpense
  1. 26188.00
Otherincome1
  1. 1200.00
Otherincomedescription
  1. Pets
Parcel Number
  1. 7209021002
Parking Features
  1. Paved
Pest Control Expense
  1. 500.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 11423.00
Property Type
  1. Apartment
Property Condition
  1. Turnkey
  2. Updated/Remodeled
Road Frontage Type
  1. City Street
Road Surface Type
  1. Alley Paved
  2. Paved
Roof
  1. Composition
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 447735093:CRM
Spa Features
  1. None
Subdivision Name Other
  1. Wrigley Area (WR)
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 16385.00
Totalexpenses
  1. 60220.00
Trash Expense
  1. 750.00
Uncovered Spaces
  1. 4.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Connected
  4. Water Connected
View
  1. None
Water Sewer Expense
  1. 750.00
Water Source
  1. Public
Year Built
  1. 1979
Year Built Source
  1. Assessor