Long Beach, CA 90806 3029 Pacific Avenue
$1,375,000
10 more
Presented By: Naomi Yamagami Reed with Sage Real Estate Group, Inc.; 310-803-7662
- MLS# PW25142786
- 06/25/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 2
Baths • 1
SQFT • 2,734
Home Details
Turn-key 4-unit income property in the desirable northern section of Wrigley, Long Beach. 3029 Pacific Ave offers strong cash flow, updated interiors, and long-term upside. Located on a wide, tree-lined street just north of Willow, the property benefits from nearby amenities, larger lot homes, and higher owner occupancy. Excellent access to Pacific Hospital, Memorial Medical Center, Metro A Line (Wardlow & Willow stations), and Bus Line 182 makes this a prime location for tenant demand. Desirable unit mix: two spacious 2BR/1BA units + two newer 1BR/1BA ADUs (garage conversions with permits, completed in 2023). One ADU delivered vacant at COE—ideal for an owner-user or rent optimization. Downstairs 2BR was fully renovated in 2023 with in-unit laundry. Upstairs 2BR is in original condition with value-add potential. Coin-op laundry located just two doors down for tenant convenience. Uncovered parking, separate meters, and LBR2N zoning. Low-maintenance, stabilized asset with strong income. GSI: $101,808 | GRM: 13.5 | Cap Rate: 4.81%.
Presented By: Naomi Yamagami Reed with Sage Real Estate Group, Inc.; 310-803-7662
Interior Features for 3029 Pacific Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesSeeRemarks
Total Stories2
Other Rooms
Entry Level1
General for 3029 Pacific Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityLong Beach
Community FeaturesSuburban
CountyLos Angeles
DirectionsNear at the corner of W Spring St and Pacific Ave.
Electric Expense0.0
Entry LocationSeparate Entrance for Each Unit
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense4000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan, Exchange1031
Lot Size Square Feet4361.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
Maintenance Expense3000.0
MobileHomeRemainsYNNo
Net Operating Income73346.0
New ConstructionNo
Number Of Units Total4
Open Parking Spaces4.0
Operating Expense25408.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property ConditionRepairsCosmetic, Turnkey
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameWrigley Area (WR)
Tax Lot23
Tenant PaysAllUtilities
Trash Expense0.0
Water Sewer Expense0.0
Year Built1955
Year Built SourceAssessor
ZoningLBR2N
Exterior for 3029 Pacific Avenue
Building Area Total2734.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.1001
Lot Size Area4361.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters4
Number of Separate Gas Meters2
Number of Separate Water Meters1
Parking FeaturesAsphalt, Concrete, Driveway, OnSite, Paved, OneSpace, Uncovered
Private PoolNo
SpaNo
Total Parking4.0
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Hal Schlegel
Broker Associate