Property listed by Sage Real Estate Group, Inc., Naomi Yamagami Reed 310-803-7662
$1,195,000
Prime North Wrigley Location. 4-Units | Duplex + 2 ADU (2023) | 5.90% CAP | 11.86 GRM | $298K/PPU. Ideal for DSCR, Non-QM, and 1031 Exchange Buyers. 3 of 4 units Renovated - Turnkey. Low CapEx. Two 2023-Built ADUs - Fully Permitted, Turnkey Income Units. One 2BR in Original Condition… Read More - Simple Value-Add Opportunity. Excellent for Short, Mid, and Long Term Rentals. Located in the northern section of Long Beach’s sought-after Wrigley neighborhood, 3029 Pacific Ave is a turn-key 4-unit income property offering immediate cash flow, updated interiors, and long-term upside potential. Set on a wide, tree-lined street just north of Willow, this location sits within one of Wrigley’s more desirable pockets—known for larger lots, higher owner occupancy, and proximity to Bixby Knolls, Virginia Country Club, and the 405 Freeway. The property’s proximity to Pacific Hospital of Long Beach, Memorial Medical Center, and multiple transit options—including the Metro A Line (Wardlow & Willow stations) and Bus Line 182—enhances its appeal to renters seeking convenience, access, and connectivity. The unit mix includes two spacious 2 bed / 1 bath units and two newer 1 bed / 1 bath ADUs, completed in 2023 as permitted garage conversions. The unit mix is perfect for long-term market rent or short-term and mid-term rental strategies. The downstairs 2BR unit was fully renovated in 2023 with modern finishes and in-unit laundry, while the upstairs 2BR remains in original condition, presenting an easy value-add opportunity. A coin-operated laundromat just two doors down adds extra convenience for tenants. With uncovered parking, separate meters, and LBR2N zoning, this is a well-located, low-maintenance asset in a high-demand rental submarket—with the hard work already done. Read Less
Listing Snapshot
Days Online
122
Last Updated
Property Type
Quadruplex
Lot Size
0.1 Acres
Year Built
1955
MLS Number
PW25142786
Additional Details
Building
Built in 1955, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: Separate Entrance for Each Unit
Community
Suburban
Expenses
Insurance: $4,000, Licenses: $500, Maintenance: $3,000, Operating: $25,408, Pest Control: $720, Other Expense: $17,188
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $101,808, Net Operating Income: $73,346
Laundry
SeeRemarks
Lot
0.1001 acres, TwoToFiveUnitsAcre
Parking
4 open parking spaces, 4 total parking spaces, Asphalt, Concrete, Driveway, OnSite, Paved, OneSpace, Uncovered
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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