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2219 Pine Avenue

Long Beach, CA 90806
  • $2,299,000
  • STATUS: Active
  • ON SITE: 189 Days
  • MLS #: PW24201464
UPDATED: 16 min ago
$2,299,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Wrigley Area (Wr)
Type:
Multi-Family
Built:
1948
County:
Los Angeles
Area:
5 - Wrigley Area

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Listing Agent(s): Marvin Malone of Amberwood Real Estate, Inc. (562-799-2388)


Description

PRICE JUST REDUCED!! This 10-Unit Apartment Building is a Great Investment for an Investor. Located in the South Wrigley Area with a Market Cap Rate of 6.2%. The Property has been Well-Maintained, with a Great Upside Potential on the Future Rental Income!! This Property Offers (3) 2 Bedrooms -1 Bathroom, (6) 1 Bedrooms - 1 Bathroom and (1) Bonus Room/Studio -1 Bathroom. Four of the Units have been Recently Remodeled, and the Exterior was Recently Painted. The Property also has (4) Single Car Garages that can be a Great Opportunity to convert into ADU'S for Additional Income, and it has (4) Parking Spaces for Extra Income. The Owner just recently Installed a Newer Roof. All Units are Separately Metered for Gas and Electric. This 10-Unit Apartment Building is Located in a High Demand Rental Area!! This Apartment Building in Conveniently Located Close to Shopping, Restaurants, Entertainment, Metro Link, Long Beach Airport Downtown LB, Civic Center, Long Beach Aquarium, Downtown Village, CSULB and Queen Mary Island.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-04-25T11:29:40.097. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/156871560
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2219 Pine Avenue Long Beach, CA 90806

  • Price: $2,299,000
  • Status: Active
  • On Site: 189 Days
  • Updated: 16 min ago
  • MLS #: PW24201464
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1948
Built
Neighborhood:
Wrigley Area (Wr)
County:
Los Angeles
Area:
5 - Wrigley Area
Property Description
PRICE JUST REDUCED!! This 10-Unit Apartment Building is a Great Investment for an Investor. Located in the South Wrigley Area with a Market Cap Rate of 6.2%. The Property has been Well-Maintained, with a Great Upside Potential on the Future Rental Income!! This Property Offers (3) 2 Bedrooms -1 Bathroom, (6) 1 Bedrooms - 1 Bathroom and (1) Bonus Room/Studio -1 Bathroom. Four of the Units have been Recently Remodeled, and the Exterior was Recently Painted. The Property also has (4) Single Car Garages that can be a Great Opportunity to convert into ADU'S for Additional Income, and it has (4) Parking Spaces for Extra Income. The Owner just recently Installed a Newer Roof. All Units are Separately Metered for Gas and Electric. This 10-Unit Apartment Building is Located in a High Demand Rental Area!! This Apartment Building in Conveniently Located Close to Shopping, Restaurants, Entertainment, Metro Link, Long Beach Airport Downtown LB, Civic Center, Long Beach Aquarium, Downtown Village, CSULB and Queen Mary Island.
Exterior Features

Architectural Style Contemporary Construction Materials Stucco Direction Faces East Entry Level 1 Entry Location West Fencing Wood Foundation Details Raised Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 10 Open Parking Spaces 2 Parking Features Door-SingleGarageOn SiteOff StreetGarage Faces Rear Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Road Surface Type Paved Roof Composition Spa Features None Spa YN No

Interior Features

Appliances Water Heater Common Walls 1 Common Wall Cooling None Cooling YN No Flooring CarpetWood Heating Wall Furnace Heating YN Yes Interior Features Multiple Staircases

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 6.23 Common Interest None Community Features CurbsStreet LightsSidewalks Contingency Seller Will Be Doing a 1031 Exchange Electric 220 Volts Electric Expense 360 Fuel Expense 0 Garage YN Yes Gross Income 1000 Gross Scheduled Income 195312 Insurance Expense 7500 Land Lease YN No Laundry Features Common AreaWasher HookupGas Dryer HookupLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional1031 Exchange Maintenance Expense 7000 Net Operating Income 148328 New Construction YN No New Taxes Expense 17599 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Operating Expense 46984 Other Expense 275 Possession Close Plus 3 Days Property Condition Updated/Remodeled Property Sub Type Apartment Rent Control YN No Security Features Carbon Monoxide Detector(s)Smoke Detector(s) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 16276 Trash Expense 0 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 4500 Water Source Public Zoning LBR2N



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-04-25T11:29:40.097. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Marvin Malone of Amberwood Real Estate, Inc. (562-799-2388)