3029 Pacific Avenue, Long Beach
Long Beach Home For Sale
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.
Property Details
Additional Information
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- City:
- Long Beach
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- County:
- Los Angeles
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- Zip:
- 90806
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- MLS® #:
- P1-16320
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- Bedrooms:
- 6
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- Bathrooms:
- 4
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- Square Ft:
- 2,654
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- Lot Size:
- 0.10
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- Community:
- 3636
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- Levels:
- Multi/Split
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- HOA Dues:
- $
Price Change History for 3029 Pacific Avenue, Long Beach, (MLS® #P1-16320)
| Date | Details | Price | Change |
|---|---|---|---|
| Active | – | – | |
| Active Under Contract | – | – | |
| Active | – | – | |
| Active Under Contract (from Active) | – | – | |
| Price Reduced (from $1,400,000) | $1,375,000 | $25,000 (1.79%) |
Based on information from California Regional Multiple Listing Service, Inc. as of April 29th, 2024 at 10:55am PDT. 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.