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3029 Pacific Avenue, Long Beach, California 90806, Long Beach, 90806 - bed, bath

3029 Pacific Avenue, Long Beach, California 90806 home-pic-0
ACTIVE$1,195,000
3029 Pacific Avenue, Long Beach, California 90806
0Bed
0Bath
2,734Sqft
4,361Lot
Year Built
1955
Close
-
List price
$1.2M
Original List price
$1.38M
Price/Sqft
$437
HOA
-
Days on market
-
Sold On
-
MLS number
PW25142786
Home ConditionExcellent
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(69th), sqft - 2734(63th), beds - undefined(50th), baths - undefined(50th).

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.

Nearby schools

6/10
Birney Elementary School
Public,•K-5•0.4mi
8/10
Lafayette Elementary School
Public,•K-5•0.7mi
8/10
Los Cerritos Elementary School
Public,•K-5•1.1mi
5/10
Burnett Elementary School
Public,•K-5•1.1mi
6/10
Robinson Academy
Public,•K-8•0.4mi
7/10
Hughes Middle School
Public,•6-8•1.3mi
6/10
Washington Middle School
Public,•6-8•1.9mi
3/10
Cabrillo High School
Public,•9-12•1.8mi
6/10
Polytechnic High School
Public,•9-12•1.8mi

Price History

Date
Event
Price
11/26/25
Price Change
$1,195,000-8.1%
09/05/25
Price Change
$1,300,000-2.6%
08/05/25
$1,335,000
06/25/25
$1,375,000
06/21/22
Sold
$690,000
Condition Rating
Excellent
The property features two newly constructed ADUs and one extensively renovated unit, all completed in 2023. These units boast modern kitchens with new white shaker cabinets, quartz countertops, stainless steel appliances (gas range, microwave), and contemporary bathrooms with new vanities, fixtures, and tiling. New light wood-look flooring and recessed lighting are present throughout the renovated spaces. While one unit remains in its original 1955 condition, the significant recent renovations to 75% of the property's units, including the exterior, elevate its overall condition to excellent, meeting current quality standards with minimal depreciation for the majority of the living spaces.
Pros & Cons

Pros

Newly Constructed ADUs: The addition of two fully permitted ADUs in 2023 significantly enhances the property's income potential and overall value as a 4-unit asset.
Turnkey & Renovated Units: Three of the four units are recently renovated and described as 'turnkey,' minimizing immediate capital expenditure for a new owner.
Strategic Location: Situated in a prime North Wrigley location, offering excellent access to major freeways, medical centers, Bixby Knolls, and public transit, appealing to a broad renter base.
Clear Value-Add Opportunity: One original 2-bedroom unit presents a straightforward opportunity for renovation, allowing a new owner to further increase rental income and equity.
Versatile Rental Strategies: The property's unit mix and location support diverse rental strategies, including short-term, mid-term, and long-term leases, maximizing income flexibility.

Cons

Unrenovated Original Unit: One of the 2-bedroom units is in its original condition, requiring further investment and renovation to optimize its rental income and align with the updated units.
Aging Primary Structure: The main duplex building was constructed in 1955, suggesting potential for older systems and components in the original units that may require future maintenance or upgrades.
History of Price Reductions: Multiple price drops from the initial listing price of $1.375M to $1.195M could indicate market resistance or a previous overvaluation, potentially impacting perceived value.

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