GET STARTED

1075 Obispo Ave, Long Beach 90804

  • Totally remodeled fully occupied turnkey 9-unit apartment building
  • $200K spent on building improvements, exterior refreshed with new paint, new security screen doors, new lighting, landscaping, and fence
  • 100% of unit interiors upgraded including quartz counters, waterproof vinyl plank floors, stainless appliances, new cabinets, new bathrooms, and new lighting
  • Perfect unit mix of nine 2 bed/1 bath apartments
  • 4 garages plus 4 off-street parking spaces
  • Full stabilized building with strong in-place rents at 14.3X GRM and a 4.5% cap rate
  • Perfect 1031 exchange upleg property
  • Excellent Eastside/Zaferia location, within blocks of restaurants, bars, and design district
  • Close to Cal State Long Beach, Traffic Circle, Belmont Heights, and the beach
  • Walk Score of 94, Transit Score of 44
current

Download Offering Memorandum

UNITS: 9

GROSS RENT MULTIPLIER: 14.33

CAP RATE: 4.5%

AGENT: anthonywalker

PRICE

$2,895,000

ANNUAL INCOME

$192,120

ANNUAL NOI

$128,996

ANNUAL EXPENSE

$63,125

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
821$1,850$14,800$1,950$15,600
121$1,600$1,600$1,950$1,950
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
942$16,400$17,550