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1952 Pine Ave, Long Beach, CA 90806
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1952 Pine Ave Long Beach, CA 90806

$1,620,000 Sold Price as of 06/20/2023
  • 12 Beds
  • 6 Baths
  • 4,718 Sq.Ft.
Sold
$1,620,000 Sold Price as of 06/20/2023 Refinance Your Mortgage
Map preview of 1952 Pine Ave, Long Beach, CA 90806

Property Overview: 1952 Pine Ave Long Beach, CA has 12 bedrooms, 6 bathrooms, 4,718 living square feet and 6,740 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to purchase a rare, value-add offering that is cash flowing at a current 5.24% Cap Rate.  The high cash flow provides a buyer the opportunity to purchase at a 60%+ LTV.  Pine Ave consists of six units that have large floor plans situated on a 6,740 sq ft lot.  Additionally, there is significant upside potential to add an additional two ADU units, and to utilize the two common courtyards for tenant amenities.  1952 Pine also benefits from four single car garages which are a commodity in Long Beach.  Located near Downtown Long Beach, and proximate to the 710 & 405 Freeways, this is a strong rental location that will benefit a first time or seasoned investor. Note - the property consists of large 1bedroom units which operate as 2bedroom units.

Listed by Shane Young | BRE #01963090 | Younglewin Advisors, Inc.
Last checked: 15 minutes ago | Last updated: June 20th, 2023 | Source CRMLS | DOM: 62

Home details

Lot Sq. Ft
6,740
HOA Dues
$0/mo
Year built
1940
Garage
4 Car
Property Type:
Apartment
Status
Sold
MLS#
PW23021166
City
Long Beach
County
Los Angeles
Time on Site
452 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 4
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,875
  • Total Rent: $11,250
  • Pro Forma/Market Rent: $12,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.24%
  • Gross Rent Multiplier: 12.59
  • Gross Scheduled Income: $135,000
  • Net Operating Income: $89,104
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $41,845
  • Electric: $2,100
  • Gas/Fuel: $0
  • Trash: $2,640
  • Insurance: $1,971
  • Professional Management: $5,088
  • Water/Sewer: $2,400

Property Details for 1952 Pine Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: Back Yard, Front Yard, Sprinkler System, Value In Land, Yard
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 7209017012
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Wrigley Area (WR)
  • Directions: South of 20th & East of Pacific
Neighborhood Information
  • Community Features: Biking, Curbs, Gutters, Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 1952 Pine Ave

Last sold for $1,620,000 on June 20th, 2023

  • June, 2023

  • Jun 20, 2023

    Date

    Sold

    CRMLS: PW23021166

    $1,620,000

    Price

  • Feb 21, 2023

    Date

    Active

    CRMLS: PW23021166

    $1,699,000

    Price

  • April, 2018

  • Apr 7, 2018

    Date

    Sold

    CRMLS: PW18034522

    $1,075,000

    Price

  • Mar 4, 2018

    Date

    Pending

    CRMLS: PW18034522

    $1,099,000

    Price

  • Feb 15, 2018

    Date

    Active

    CRMLS: PW18034522

    $1,099,000

    Price

  • Listing provided courtesy of CRMLS

    Located at 1952 Pine Avenue, this low rise multifamily asset was built in 1940 of wood frame construction on a concrete foundation. Assets of this age are highly desired by investors and tenants seeking newer construction. There are 6 total units, each with 1 bedroom, 1 bathroom and large dens with an average of 750 sq. ft. of living space. There are (4) 1 car garages.   3 of the units have been renovated kitchens which include copper plumbing. The remaining units are in excellent vintage condition. New water heater (master) was installed recently. Four new garage doors also recently installed in 2003.

  • April, 2018

  • Apr 6, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,075,000

    Price

  • November, 2003

  • Nov 14, 2003

    Date

    Sold (Public Records)

    Public Records

    $487,000

    Price

Show More

Tax History for 1952 Pine Ave

Assessed Value (2020): $1,119,230
Year Land Value Improved Value Assessed Value
2020 $364,140 $755,090 $1,119,230

Home Value Compared to the Market

This property vs the competition

1952 Pine Ave sold on June 20, 2023 for 112.38% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $360.11 per/sqft which puts the price per square foot 43.02% lower than the current median sale per square foot for the city of Long Beach.

About 1952 Pine Ave

Detailed summary of property

1952 Pine Ave is a apartment that recently sold in Long Beach, CA 90806. This apartment offered 12 bedrooms, 6 bathrooms, roughly 4,718 living square feet, and sits on an approximately 6,740 square foot lot. 1952 Pine Ave was first listed on ArdentRealEstateGroup.com on February 22, 2023. The homeowner sold the property for $1,620,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 112.38% higher than the current median priced home. Local homes that are currently for sale include 1627 W Summit St, 1825 Cherry Ave and 436 Gaviota Ave. While the average home in Long Beach, CA is selling in 51 days, 1952 Pine Ave has a days on market of 62 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 1952 Pine Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1952 Pine Ave

Public county record property details
Beds
6
Baths
6
Year built
1940
Sq. Ft.
4,718
Lot Size
6,740
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
7209-017-012

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$589
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
14
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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