CA > Long Beach
Long Beach, CA 90813,939 Pacific AVE
Long Beach, CA 90813,939 Pacific AVE
Long Beach, CA 90813,939 Pacific AVE
Long Beach, CA 90813,939 Pacific AVE
Long Beach, CA 90813,939 Pacific AVE
Long Beach, CA 90813,939 Pacific AVE
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Natalie Miranda

Natalie Miranda

$ 3,000,000
Est. payment | /mo

7,505 Sqft Lot

Save
$ 3,000,000
Est. payment | /mo
Save

7,505 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25149498

HOA Y/N No

Year Built 1959

Lot Size 7,505 Sqft

Property Sub-Type Apartment

Property Description

We are pleased to present 939 Pacific Avenue, a fully renovated thirteen-unit apartment complex located just outside the historic Drake Park/Willmore City neighborhood in Downtown Long Beach. Situated less than a block from the K-9 Corner Dog Park and a short bike ride to The Promenade and City Place Shopping Center, this property benefits from the continued revitalization of the Downtown Long Beach corridor. Tenants enjoy walkable access to retail, dining, entertainment, and major employment centers, along with excellent transit connectivity and a Walk Score of 93. The property consists of thirteen (13) spacious 1-bedroom/1-bathroom units, each averaging approximately 600 square feet. All units were fully remodeled by the previous owner in 2018–2019 with high-end finishes including quartz countertops, real wood shaker cabinetry, recessed lighting, stainless steel appliances, ceramic tile in wet areas, updated electrical, and new flooring. Exterior improvements during the same period included new dual-pane vinyl windows, fencing and gates, drought-tolerant landscaping, garage doors with openers, upgraded lighting, and a permitted outdoor BBQ area. In 2023, the current owner repaired or replaced all HVAC units as needed and upgraded the main electrical panel—demonstrating pride of ownership and a commitment to ongoing maintenance. Additional features include a coin-operated laundry room that generates supplemental income and a storage room that is currently unused, offering potential for added income or repurposing. The property also includes six (6) on-site garages, two of which are
currently not in use and may be rented for additional income or potentially converted to ADUs (buyer to verify). One unit is currently move-in ready, offering immediate upside through lease-up at market rent. Priced at a 5.5% cap rate with over 11% rental upside, 939 Pacific Avenue offers investors a well-maintained, turn-key asset in one of Long Beach's most supply-constrained and appreciating coastal submarkets.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBCO

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7272012009

Energy Description 2727.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS – RECore
Listed by Christopher Van Vuuren Lyon Stahl Investment Real Estate, Inc. 714-655-0098

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Natalie Miranda

Marketing Director | License ID: 02122928

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939 Pacific AVE