3029 Pacific Avenue, Long Beach, CA 90806

Property Description

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 - 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.