11-Unit Multifamily
1950 Pacific Ave Long Beach, CA 90806
1950 Pacific Ave, Long Beach, CA, 90806
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For Sale
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Built in 1962, the 11-unit multifamily property includes two newly constructed ADUs within a mixed 1- and 2-bedroom unit mix.
Property Size8,591 SF
Lot Size0.20 Acres
Price / SF$267.72
Days on Market20
Property Features for 1950 Pacific Ave
General Information
- Standard status
- Active
- Size
- 8,591 SF
- Lot size
- 0.20 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing agency
Lyon Stahl Investment Real Estate
(310) 259-7556
Listed by
Cameron Samimi · License #CA 02035763
Source
Crexi
Added: Jul 3 Updated: Jul 22 at 1:37AM Checked: Jul 22 at 1:37AM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
1950 Pacific Ave is an 11-unit multifamily asset built in 1962. The property’s unit mix includes 1-bedroom and 2-bedroom units, and it also features two newly constructed ADUs that are already completed. This combination supports an income-producing configuration with existing units plus additional rental units.
The offering is positioned on an approximately 8,591 square foot lot and totals approximately 6,733 square feet of building area. Current scheduled rents are reported as approximately $19,559 per month, and the marketing materials also reference projected market rents of approximately $21,940 per month before additional garage income.
The information provided indicates the property currently operates at a 9.80 GRM and a 7.03% cap rate, with potential to move toward an 8.50 GRM and an 8.54% cap rate at market rents.
The offering is positioned on an approximately 8,591 square foot lot and totals approximately 6,733 square feet of building area. Current scheduled rents are reported as approximately $19,559 per month, and the marketing materials also reference projected market rents of approximately $21,940 per month before additional garage income.
The information provided indicates the property currently operates at a 9.80 GRM and a 7.03% cap rate, with potential to move toward an 8.50 GRM and an 8.54% cap rate at market rents.
Key Highlights
- 11‑unit multifamily property at 1950 Pacific Ave, built in 1962
- Includes two newly constructed ADUs and a mixed unit mix of 1‑bedroom and 2‑bedroom units
- Approx. 6,733 SF building area on an approx. 8,591 SF lot
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $263.9k | $30.72 |
| − Vacancy | −$12.4k | −$1.44 |
| EGI | $251.5k | $29.28 |
| − OpEx | −$113.2k | −$13.17 |
| NOI | $138.3k | $16.10 |
8,591 SF · lease $30.72/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,331 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.60M
$4.02M – $5.37M
NOI $321,971 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Built in 1962, the 11-unit multifamily property includes two newly constructed ADUs within a mixed 1- and 2-bedroom unit mix.
Where is this apartment building located?
The property is located at 1950 Pacific Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 11‑unit multifamily property at 1950 Pacific Ave, built in 1962; Includes two newly constructed ADUs and a mixed unit mix of 1‑bedroom and 2‑bedroom units; Approx. 6,733 SF building area on an approx. 8,591 SF lot
