Marcus & Millichap is pleased to present the opportunity to acquire 1106 Pacific Avenue, a 12-unit turn-key multifamily investment property located in Long Beach, one of the premier housing markets in Southern California.
The 8,203 gross square foot property consists of one- and two-bedroom units and offers amenities including gated entry, security doors, garage parking, and on-site laundry. In 2019, 1106 Pacific Avenue was fully renovated with improvements including electrical, flooring, and remodeled kitchens and bathrooms (shaker-style cabinets, new appliances, fixtures, and countertops). Exterior renovations include new paint, professional drought resistant landscaping, and tile facade. In addition, the property’s strategic location in close proximity to Pacific Coast Highway, Interstate 710, and Downtown Long Beach provides residents with convenient access to local and regional employment centers.
Historically known for its status as the preeminent harbor city on the West Coast, Long Beach continues to gain notoriety as an exciting and vibrant waterfront destination. Long Beach’s world-class port, prestigious university, unique business market, and unmatched local attractions have made it one of Southern California’s most desirable markets.
Given the overall strength of the apartment market in Long Beach and unique appeal of the subject property, 1106 Pacific Avenue is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.