Description

Introducing Pike Manor in the heart of Retro Row, one of Long Beach’s most dynamic and supply-constrained coastal neighborhoods. Originally re-constructed in 2023 with two additional ground-up units completed in 2025, the property offers investors an institutional-quality Class A asset with strong in-place cash flow at a significant discount to Class A institutional assets. The property is 100% leased to a high-credit tenant base and operates at a 5.13% CAP rate at approximately $487 per sf, a basis significantly below replacement cost for comparable new coastal construction. Pike Manor has undergone an extensive top-to-bottom redevelopment, including 100% all new building infrastructure, including plumbing, sewer and water lines, gas lines, electrical systems, subpanels, meters, mechanical systems, roofing, windows, doors, façade improvements, hardscape, and landscaping. The property was rebuilt post-Title 24 standards and was designed to minimize future capital expenditure risk while creating operational efficiency through separate gas and electric metering, rooftop solar, drought-tolerant landscaping, and high-efficiency systems throughout. All units feature premium modern interiors with quartz countertops, European-style cabinetry, designer fixtures, Energy Star appliances, plank flooring, in-unit washer/dryers, all new windows, oversized walk-in closets, and designer coastal finishes curated to attract Long Beach’s growing professional tenant demographic. Several units feature oversized layouts, vaulted ceilings, bay windows, and unique architectural details rarely found in newer multifamily products. The asset also includes seven garage parking spaces, newly constructed garage structures with mechanized doors, & private resident storage lockers in the basement, amenities that are increasingly rare and highly valued in dense coastal markets like Long Beach. In addition to durable, stabilized current income, the property offers a substantial tax advantage through accelerated depreciation. A completed cost segregation study projects approximately $2.37M in depreciation within the first five years of ownership, creating significant sheltering potential for investors seeking tax-efficient cash flow. Situated just blocks from the Pacific Ocean & Bluff Park, Pike Manor blends essentially new construction quality with the character and walkability that define this highly coveted pocket of Long Beach.