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1151 Pacific Avenue, Long Beach, California 90813, Long Beach, 90813 - bed, bath

1151 Pacific Avenue, Long Beach, California 90813 home-pic-0
ACTIVE$1,434,000
1151 Pacific Avenue, Long Beach, California 90813
0Bed
0Bath
4,530Sqft
7,492Lot
Year Built
1978
Close
-
List price
$1.43M
Original List price
$1.43M
Price/Sqft
$317
HOA
-
Days on market
-
Sold On
-
MLS number
PW25075583
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.43M(92th), sqft - 4530(92th), beds - undefined(50th), baths - undefined(50th).

1151 Pacific Avenue is a fourplex in Long Beach, California. The property is a 1978 construction with spacious floor plans and a highly desirable mix of three two-bed/two-bath units and one three-bed/two-bath unit. The property also offers on-site laundry, a two-car garage in the front, and four single-car garages in the rear with tandem driveway parking. 1151 Pacific Avenue is located in the Willmore neighborhood, offering tenants easy access to retail (WalkScore: 89), the Metro Blue Line, Downtown Long Beach, and the 710 Freeway. Current rents offer a new investor 10 percent rental upside. 1151 Pacific Avenue is offered as part of a Long Beach portfolio sale along with 2032 Pine Avenue, an eight-unit complex, and 1209 Olive Avenue, a six-unit building. Properties available separately or together.

Price History

Date
Event
Price
04/07/25
Listing
$1,434,000
01/17/19
Sold
$930,000
Condition Rating
Fair
The property was built in 1978, making it 47 years old. The exterior images show a dated appearance with vertical wood siding and older window styles, consistent with its age. While the structure appears sound and maintained, there are no indications of recent extensive renovations. The presence of clutter in the driveway suggests a lack of meticulous upkeep. Without interior photos, it's difficult to assess the kitchen and bathroom conditions directly, but given the exterior and age, it's highly probable they are also outdated, requiring minor updates or cosmetic repairs to meet current standards. This aligns with the 'Fair' category, indicating an aged but maintained property where major components are functional but show signs of being outdated.
Pros & Cons

Pros

Income-Generating Asset: As a quadruplex, this property is a dedicated residential income asset, offering multiple revenue streams for investors.
Strategic Location & Accessibility: Located in the Willmore neighborhood with an excellent WalkScore of 89, providing tenants easy access to retail, public transit (Metro Blue Line), Downtown Long Beach, and the 710 Freeway.
Desirable Unit Mix: The property features a highly sought-after mix of three 2-bed/2-bath units and one 3-bed/2-bath unit, appealing to a broad range of potential tenants.
Strong Tenant Amenities: On-site laundry facilities and ample parking, including six individual garages and tandem driveway space, significantly enhance tenant convenience and property appeal.
Immediate Rental Upside: Current rents offer a new investor a clear 10 percent rental upside, indicating potential for increased cash flow and return on investment.

Cons

Property Age & Potential Capital Expenditures: Built in 1978, the property's age suggests that major systems and components may be nearing the end of their useful life, potentially requiring significant capital expenditures for updates or replacements.
Unspecified Interior Condition: While floor plans are spacious, the description lacks details on the current interior condition of the units, which could imply a need for substantial renovation to maximize rental income and tenant appeal.
Lack of Individual Utility Metering Information: The absence of information regarding separately metered utilities for each unit could indicate higher operating costs for the owner, as common utilities or shared meters can reduce overall profitability.

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