3029 Pacific Avenue

Long Beach, CA 90806

$1,375,000

Listed Price
6

bed Beds

4

shower Baths

2,654 sqft

straighten $518 / sqft

1955

calendar_month Built

Property Description

Exceptional Turnkey Investment Opportunity with Upside Potential This inviting property presents the opportunity for both new and experienced investors. 3029-3031 Pacific Ave features a mix of four distinct units across two separate buildings, combining modern living with investment potential.The front building is a two-story structure offering a 2-bedroom, 1-bath unit on each floor. The ground-level unit has been completely refurbished in 2022, boasting contemporary finishes and amenities. The upper unit offers comfortable living space with the potential for enhancement and increased rental income.In the rear, two newly constructed Accessory Dwelling Units (ADUs), completed in 2023, provide a brand-new living experience. These units, transformed from former garages, have their individual water and electric meters, ensuring ease of management. Each ADU offers modern design, privacy, and convenience, with separate entryways and addresses.Unit Details:**Unit 1 (3029): Ground-level 2 bed 1 bath, fully remodeled. Current rent: $2,750/month (month-to-month lease).**Unit 2 (3031): Second-floor 2 bed 1 bath. Current rent: $2,100/month (month-to-month lease).**ADU1 (3029A): Newly constructed, sleek efficient 1 Bed design. Leased until 9/3/2024 at $1,730/month.**ADU2 (3029B): Newly constructed, sleek efficient 1 Bed design. Leased until 7/31/2024 at $1,695/month.With its combination of fully remodeled and new construction units, plus one unit poised for rehab and rent growth, this investment is a rare find. It's perfect for those looking to step into a nearly turnkey operation or seasoned investors seeking a property with both stability and upside potential.

Interior Features

Bedroom Information
Bedrooms 6
Bathroom Information
Bathrooms 4
Fireplace Information
Features None
Interior Information
Cooling Type Wall/Window Unit(s), Ductless

Listing Information

Address 3029 Pacific Avenue
City Long Beach
State CA
Zip 90806
County Los Angeles
Listing Agent Andrea Swann DRE#02192788
Courtesy Of Swann Investments
MLS P116320
List Price $1,375,000
Status Active Under Contract
Type Residential
Subtype Quadruplex
Structure Size 2,654
Lot Size 4,361
Year Built 1955
DOM 60

Exterior Information

Other Structures
Features None

Maps

Listing information courtesy of: Andrea Swann, Swann Investments . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 4th, 2024 at 11:00 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.