1883 Pine Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90806
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,666 sqft
Price per Sqft $448
Subdivision Wrigley Area
MLS Listing ID SB-25222853
Style Contemporary
Year Built 1979
Lot Size 6,768 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
South Wrigley 8-Unit Turnkey Multifamily Property
Built in 1979 with two new ADUs added in 2025, this stabilized, meticulously maintained 8-unit property in the desirable South Wrigley neighborhood offers a rare investment opportunity. The building features (4) updated 2-bedroom units (2) updated 1-bedroom units and (2) modern 2-bedroom ADUs, all in excellent condition.
The main building's units have been fully renovated with new cabinetry, countertops, ceramic tile and laminate flooring, appliances, electrical, plumbing, finish carpentry, hardware, interior/exterior doors, windows, and fresh paint inside and out. The 2025-built all-electric, separately metered ADUs include in-unit laundry and dedicated split-unit air conditioners for added tenant comfort. Six rear garages were converted into the ADUs, with (4) parking spaces retained behind the building. The property also boasts a 2024-installed roof, upgraded block wall/fencing, and a new parking gate, all completed with permits. The main building units are also separately metered for gas and electricity.
Priced attractively at a sub-10.5X GRM and a 6.2% cap rate, this turnkey property is located on a charming, tree-lined residential street with head-in parking. It's less than a mile from the 710 Freeway, under 2 miles from the 405, and just 2 miles north of the beach, offering unmatched convenience and appeal.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Interior Features Ceiling Fan(s)
Heating Ductless,Wall Furnace
Flooring Laminate
Fireplaces Type None
Laundry In Closet
Exterior
Parking Features Paved
Pool None
Community Features Suburban
Utilities Available Sewer Connected,Water Connected,Electricity Connected,Natural Gas Connected
View Y/N No
View None
Building
Lot Description Rectangular Lot
Sewer Public Sewer