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2032 Pine Avenue, Long Beach, California 90806, Long Beach, 90806 - bed, bath

2032 Pine Avenue, Long Beach, California 90806 home-pic-0
ACTIVE$1,668,000
2032 Pine Avenue, Long Beach, California 90806
0Bed
0Bath
4,360Sqft
7,500Lot
Year Built
1948
Close
-
List price
$1.67M
Original List price
$1.67M
Price/Sqft
$383
HOA
-
Days on market
-
Sold On
-
MLS number
PW25075567
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.67M(50th), sqft - 4360(50th), beds - undefined(50th), baths - undefined(50th).

2032 Pine Avenue isan eight-unit multifamily investment property in Long Beach, California. The asset is a 1948 construction on a gated lot and offers a single-story fourplex and a rear two-story building with two units above two brand new ADU’s. The unit mix consists of four one-bed/one-baths, three two-bed/one-baths, and one two-bed/two-bath, and the units are separately metered for gas and electricity. The property also offers on-site laundry. 2032 Pine Avenue is located on the border of the Wrigley and Poly High neighborhoods proximate to retail (WalkScore: 84) and the Metro Blue Line. The area is a dense rental market with consistently low vacancy rates. Current rents offer a new investor 14 percent rental upside. 2032 Pine Avenue is offered for sale as part of a portfolio along with 1151 Pacific Avenue, a fourplex in Long Beach, and 1209 Olive Avenue, a six-unit building also in Long Beach. Properties available separately or together.

Nearby schools

5/10
Burnett Elementary School
Public,•K-5•0.4mi
8/10
Lafayette Elementary School
Public,•K-5•0.6mi
6/10
Birney Elementary School
Public,•K-5•1.3mi
8/10
Los Cerritos Elementary School
Public,•K-5•2.4mi
6/10
Washington Middle School
Public,•6-8•0.6mi
6/10
Robinson Academy
Public,•K-8•0.9mi
7/10
Hughes Middle School
Public,•6-8•2.4mi
6/10
Polytechnic High School
Public,•9-12•0.6mi
3/10
Cabrillo High School
Public,•9-12•1.4mi

Price History

Date
Event
Price
04/07/25
Listing
$1,668,000
11/08/23
Sold
$5,500
11/09/17
Sold
$1,005,000
06/24/05
Sold
$565,000
Condition Rating
Fair
The property was built in 1948, making it over 70 years old. While the listing highlights 'two brand new ADU’s,' these represent only a portion of the eight units. The exterior images show an aged but seemingly maintained structure with older windows and visible window AC units, indicating outdated cooling systems in at least some units. Without interior photos of the original units, it's highly probable that their kitchens, bathrooms, and overall finishes are functional but dated, requiring minor updates to meet modern standards. The new ADUs are a significant positive, but the overall condition of the majority of the property, given its age and visible features, aligns with a 'Fair' rating, suggesting it is aged but maintained, with major components functional but showing signs of being outdated.
Pros & Cons

Pros

High Unit Count & Income Potential: An eight-unit multifamily property with a diverse unit mix (four 1-bed/1-bath, three 2-bed/1-bath, one 2-bed/2-bath) and a stated 14% rental upside, maximizing potential income for investors.
Strategic Location & Market Demand: Located in a dense rental market with consistently low vacancy rates, boasting an excellent WalkScore of 84, proximity to retail, and convenient access to the Metro Blue Line.
Modern ADU Additions: Includes two brand new ADUs, significantly enhancing the property's appeal, modernizing a portion of the asset, and contributing to increased rental income streams.
Operational Efficiency: Units are separately metered for gas and electricity, substantially reducing landlord utility expenses, complemented by convenient on-site laundry facilities for tenants.
Portfolio Investment Opportunity: Available for sale as part of a larger portfolio, offering a scalable investment opportunity for buyers looking to expand their multifamily holdings in Long Beach.

Cons

Age of Property: Constructed in 1948, the original buildings may require significant capital expenditure for updates to plumbing, electrical, and other core systems, potentially leading to higher ongoing maintenance costs.
Unspecified Condition of Original Units: While new ADUs are highlighted, the renovation status and current condition of the original six units are not detailed, suggesting potential for outdated interiors or deferred maintenance.
Potential for High Renovation Costs: Given the property's age and the potential for outdated systems in the original units, a new owner might face substantial renovation costs to bring all units up to modern standards and fully capture the stated rental upside.

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