2369 Pacific Avenue, Long Beach, CA
$ Click for current price
2951 SQUARE FEET
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Great income property opportunity. Split use zoning (CNP – Neighborhood Pedestrian-Oriented Commercial). Property has 5 different units total on the property, all generating monthly rents currently totalling $4,900 per month. There are 2 office/retail units with great Pacific Avenue street frontage, rents are currently $700 and $800 respectively. The property also has 3 residential units set behind the office spaces. Each unit is 1 bedroom, 1 bathroom and the current rents are $950, $950 and $900 respectively. The property has ample open space parking as well as 4 private garages. Two of the 4 the garage units are rented as storage for $250 and $350 each. All rents are month-to-month with the exception of the $800 per month office space, this unit has approximately 18 months left on lease. This is a great way to diversify your investment portfolio. Pro forma rental income is roughly $5,285 per month or $63,420 annually. Buyer to verify all information on their own, information deemed reliable, but not guaranteed.