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2429 Pacific Avenue

Long Beach, CA 90806
  • $950,000
  • STATUS: Closed
  • ON SITE: 272 Days
  • ID#: SB21246231
Sold - 05/31/2022
$950,000
SOLD - 05/31/2022
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1925
County:

School Ratings & Info

Listing Agent(s): Cameron Samimi of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Christopher Bald of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

Designed by famous Mid-Century Modern architect EdwardKillingsworth, 2429 Pacific Ave offers an one of a kind value-addopportunity located in the heart of Long Beach. Completelyremodeled and delivered tenant or owner/user ready, this is the perfect opportunity forany owner user or investor looking for a prized creative office assetin a fantastic location.2429 Pacific Ave has 2,040 Sq.Ft of rentable office space and issituated on an oversized 11,619 Sq.Ft lot, zoned LBCNP. Zoningwould allow for potential Live/Work Unit. The property featuresabundant parking on site, an indoor/outdoor office atmosphere, andthe potential to add a back patio. Market rents for similar productwill rent out at $4,500 should the owner decide to add monthlyincome.The upside in the Long Beach market is limitless, with $6 Billion innew capital pouring into projects such as the Long Beach CivicCenter, Long Beach Aquarium, OceanAire Project, CSULB DowntownVillage, Broadway Block, The Pacific, Queen Mary Island and manymore.

Sold by Cameron Samimi of Lyon Stahl Investment Real Estate, Inc..

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-10T20:33:40.41. 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 deemed reliable but is not guaranteed accurate by the MLS or Ivan and Maria | Real Estate One. Licensed in the State of California, USA.
www.ivanandmaria.com/homes/123185970
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2429 Pacific Avenue Long Beach, CA 90806

  • Price: $1,000,000
  • Status: Closed
  • On Site: 272 Days
  • Updated: 62 min ago
  • ID#: SB21246231
0
Beds
0
Baths
0
½ Baths
0.27
Acres
1925
Built
Neighborhood:
5 - Wrigley Area
County:
Los Angeles
Area:
5 - Wrigley Area
Property Description
Designed by famous Mid-Century Modern architect EdwardKillingsworth, 2429 Pacific Ave offers an one of a kind value-addopportunity located in the heart of Long Beach. Completelyremodeled and delivered tenant or owner/user ready, this is the perfect opportunity forany owner user or investor looking for a prized creative office assetin a fantastic location.2429 Pacific Ave has 2,040 Sq.Ft of rentable office space and issituated on an oversized 11,619 Sq.Ft lot, zoned LBCNP. Zoningwould allow for potential Live/Work Unit. The property featuresabundant parking on site, an indoor/outdoor office atmosphere, andthe potential to add a back patio. Market rents for similar productwill rent out at $4,500 should the owner decide to add monthlyincome.The upside in the Long Beach market is limitless, with $6 Billion innew capital pouring into projects such as the Long Beach CivicCenter, Long Beach Aquarium, OceanAire Project, CSULB DowntownVillage, Broadway Block, The Pacific, Queen Mary Island and manymore.
Exterior Features

Lot Features 0-1 Unit/Acre

Property Features

Additional Parcels YN No Buyer Financing Conventional Cap Rate 4.34 Common Interest None Gross Scheduled Income 54000 Laundry Features None Listing Agreement Exclusive Right To Sell Net Operating Income 41608 Operating Expense 10772 Property Sub Type Office Special Listing Conditions Standard Vacancy Allowance 1620 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-10T20:33:40.41. 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 deemed reliable but is not guaranteed accurate by the MLS or Ivan and Maria | Real Estate One. Licensed in the State of California, USA.
 
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Ivan and Maria | Real Estate One
3400 Central Ave Suite 320
Riverside CA, 92506
Listing Agent(s): Cameron Samimi of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Christopher Bald of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)