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Listed by Naomi Yamagami Reed • Sage Real Estate Group, Inc.
$ 1,375,000
Est. payment | /mo
2,734 SqFt
$ 1,375,000
Est. payment | /mo
2,734 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,734 sqft
Price per Sqft $502
Subdivision Wrigley Area
MLS Listing ID PW-25142786
Year Built 1955
Lot Size 4,361 Sqft
Property Sub-Type Quadruplex
Property Description
Turn-key 4-unit income property in the desirable northern section of Wrigley, Long Beach. 3029 Pacific Ave offers strong cash flow, updated interiors, and long-term upside. Located on a wide, tree-lined street just north of Willow, the property benefits from nearby amenities, larger lot homes, and higher owner occupancy. Excellent access to Pacific Hospital, Memorial Medical Center, Metro A Line (Wardlow & Willow stations), and Bus Line 182 makes this a prime location for tenant demand. Desirable unit mix: two spacious 2BR/1BA units + two newer 1BR/1BA ADUs (garage conversions with permits, completed in 2023). One ADU delivered vacant at COE--ideal for an owner-user or rent optimization. Downstairs 2BR was fully renovated in 2023 with in-unit laundry. Upstairs 2BR is in original condition with value-add potential. Coin-op laundry located just two doors down for tenant convenience. Uncovered parking, separate meters, and LBR2N zoning. Low-maintenance, stabilized asset with strong income. GSI: $101,808 | GRM: 13.5 | Cap Rate: 4.81%.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Zoning LBR2N
Interior
Laundry See Remarks
Exterior
Parking Features On Site, Parking Space, Paved, Uncovered, Asphalt, Concrete, Driveway
Pool None
Community Features Suburban
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer