601 Pacific S Ave Long Beach, WA 98631-3965

This exceptional mixed-use property in Long Beach, WA, presents a compelling investment opportunity. Located at 601 Pacific Ave S, this 4,224 square foot storefront boasts a prime location in the heart of downtown, offering 80 feet of frontage on Pacific Avenue. The property, built in 1988 and extensively renovated in 2022, comprises two buildings across two stories, encompassing six rental units and eight parking spaces on a 12,400 square foot lot. The current zoning permits a variety of uses, including short-term rentals and retail space. The property currently generates a strong net operating income (NOI) of $70,723, resulting in an attractive 7.07% capitalization rate. The asking price is $999,900, translating to $236.72 per square foot. The property features a thriving existing business, Kraken Kafe, adding to its immediate income potential. All six units are updated with vinyl plank flooring and fresh paint. Outdoor amenities include a fire pit and fenced yard. The month-to-month lease options provide flexibility for future management. This turn-key property offers a rare blend of established income and significant upside potential in a desirable coastal location. The APN is 10111633020.