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$1,375,000
76 Days Online

3029 Pacific Avenue
Long Beach, CA 90806

For Sale|Multi-Family|Pending
County:
Los Angeles
Listed by Andrea Swann of Swann Investments ?

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3029 Pacific Avenue3029 Pacific Avenue3029 Pacific Avenue3029 Pacific Avenue
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Monthly Payment (Est.)

$6,273
Calculator powered by Showcase IDX. Copyright ©2024 Information is deemed reliable but not guaranteed.

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.

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Listing Snapshot
Price 
$1,375,000
Days Online 
76 Days
Bedrooms 
6
Inside Area (SqFt) 
2,654 sqft
Total Baths 
4
Full Baths 
4
Partial Baths 
N/A
Lot Size 
0.1001 Acres
Year Built 
1955
MLS® Number 
P1-16320
Status 
Pending
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 weeks agoListing updated with changes from the MLS®
3 weeks agoStatus changed to Pending
a month agoStatus changed to Active
a month agoStatus changed to Pending
2 months agoPrice changed to $1,375,000
See 1 more
General Features
Parking Spaces 
4
Sewer 
Public Sewer
Number of Stories 
MultiSplit2
Acreage 
0.1001
Water 
Public
Property Sub Type 
Quadruplex
Garage Spaces 
0
Zoning 
R2-N
Listing Conditions 
Standard
Property Condition 
Updated RemodeledTurnkey
Interior Features
Cooling 
DuctlessWall Window Units
Heating 
DuctlessWall Furnace
Fireplace Features 
None
Laundry Features 
See Remarks
Fireplace 
No
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Exterior Features
View 
None
Fencing 
None
Spa 
No
Pool Features 
None
Spa Features 
None
Lot 
Sprinklers None
Patio And Porch 
None
Community Features
Community Features 
Suburban
Senior Community 
No
MLS Area 
5 - Wrigley Area


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. The 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, the 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.

Neighborhood & Commute
Source: Walkscore
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