944 Pacific Avenue, Long Beach
944 Pacific Avenue represents a rare opportunity to purchase a 6-unit multifamily asset in the path of progress within an extremely hot submarket of Los Angeles, offering value like returns with a core risk profile.
New Construction 6-unit Multifamily Asset
The asset is considered, per the new CA State Rent Control Law, as new construction as it’s certificate of occupancy date is in 2020 (converted from creative office), and therefore will not be subject to rent control laws for the next 15 years. All major systems have been re-built inclusive of: completely new plumbing, electrical, mechanical (mini-split units for each apartment), and interior finishes, which will reduce ongoing maintenance costs. Located along the Pacific Avenue corridor of Downtown Long Beach, 944 Pacific offers a 93 walk score, provides tenants with ample surrounding amenities and transportation options.