15-Unit Apartment
New
For Sale
$2,225,000
1626 Pacific Avenue, Long Beach, CA 90813
Residential units include tankless water heaters, with eight single-car garages on site.
Property Size6,476 SF
Lot Size0.26 Acres
Price / SF$343.58
Days on Market2
Property Features for 1626 Pacific Avenue
General Information
Standard status
Active
Size
6,476 SF
Total Parking Spaces
8
Lot size
0.26 Acres
Property subtype
Residential Income
Zoning
LBR4R
Site & Location
Neighborhood
Washington School
Additional Details
Multifamily Units
15
Amenities
tankless water heaters
true
16
1 Common Wall
1
12
false
Public
11311
8
75x150
0.2597
6476
3
Building Details
Building Size
6,476 SF
Year Built
1922
Stories
1
Listing Agency:
Elite Representation Real Estate
(310) 387-0482
Listed By:
Melissa Barlow · License #1498928
(310) 800-1608
Source:
Lmbenterprises
Added: Oct 29
Last Checked: Oct 29 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elite Representation Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 15-unit apartment property at 1626 Pacific Avenue in Long Beach contains 6,476 square feet on an 11,311-square-foot lot. Built in 1922, the building includes eight single-car garages, and unit water heating is provided by tankless systems. Six apartments are vacant. The property is zoned LBR4R.
The stated cap rate is 7.98% using pro forma rents for the vacant units, with a 9.7% cap rate at full pro forma rents.
The stated cap rate is 7.98% using pro forma rents for the vacant units, with a 9.7% cap rate at full pro forma rents.
Key Highlights
- 15 residential units, with six currently vacant
- 6,476‑square‑foot building on an 11,311‑square‑foot lot
- Eight single‑car garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,171
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,743,420
$2.7M
Cap Rate 7%
$1,959,586
$2.0M
Cap Rate 9%
$1,524,122
$1.5M
Market Conditions
NOI Build-Up for 6,476 SF
Gross rent
$260.3K $40.20/SF
− Vacancy
−$10.9K −$1.69/SF
EGI
$249.4K $38.51/SF
− OpEx
−$112.2K −$17.33/SF
NOI
$137.2K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,743,420
Cap Rate 7%
$1,959,586
Cap Rate 9%
$1,524,122
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.29M
NOI $137,171 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.13M
$1.86M – $2.48M
NOI $148,850 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
2,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residential units include tankless water heaters, with eight single-car garages on site.
Where is this apartment building located?
The property is located at 1626 Pacific Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: 15 residential units, with six currently vacant; 6,476‑square‑foot building on an 11,311‑square‑foot lot; Eight single‑car garages
