USACALong Beach939 Pacific Ave
939 Pacific Ave, Condo with 0 bedrooms, 0 bathrooms and 6 parking in Long Beach CA | Image 1
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$3,000,000

939 Pacific Ave, Long Beach, CA

Condo

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage Yes
Maintenance Fees $9,750
Taxes 
Days Active 1
Approx. Age 1959
MLS® Number SB25149498

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

We are pleased to present 939 Pacific Avenue, a fully renovated thirteen-unit apartment complex located just outside the historic Drake Park/Willmore City neighborhood in Downtown Long Beach. Situated less than a block from the K-9 Corner Dog Park and a short bike ride to The Promenade and City Place Shopping Center, this property benefits from the continued revitalization of the Downtown Long Beach corridor. Tenants enjoy walkable access to retail, dining, entertainment, and major employment centers, along with excellent transit connectivity and a Walk Score of 93. The property consists of thirteen (13) spacious 1-bedroom/1-bathroom units, each averaging approximately 600 square feet. All units were fully remodeled by the previous owner in 2018–2019 with high-end finishes including quartz countertops, real wood shaker cabinetry, recessed lighting, stainless steel appliances, ceramic tile in wet areas, updated electrical, and new flooring. Exterior improvements during the same period included new dual-pane vinyl windows, fencing and gates, drought-tolerant landscaping, garage doors with openers, upgraded lighting, and a permitted outdoor BBQ area. In 2023, the current owner repaired or replaced all HVAC units as needed and upgraded the main electrical panel—demonstrating pride of ownership and a commitment to ongoing maintenance. Additional features include a coin-operated laundry room that generates supplemental income and a storage room that is currently unused, offering potential for added income or repurposing. The property also includes six (6) on-site garages, two of which are currently not in use and may be rented for additional income or potentially converted to ADUs (buyer to verify). One unit is currently move-in ready, offering immediate upside through lease-up at market rent. Priced at a 5.5% cap rate with over 11% rental upside, 939 Pacific Avenue offers investors a well-maintained, turn-key asset in one of Long Beach’s most supply-constrained and appreciating coastal submarkets.Show Description
MLS® NumberSB25149498
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area
Exposure
Exterior
GarageYes
Approx. Age1959
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

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