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1332 Walnut Ave, Long Beach

  • 9 units in a dense rental market of Long Beach
  • Excellent unit mix with one 1 bed/1 bath unit, six 2 bed/1 bath units, and two 3 bed/1 bath units
  • Significant recent improvements completed, including new windows, new paint, newer roof, unit interiors remodeled
  • Strong actual income at 11.5X gross
  • 5 garages plus 4 off street parking spaces
  • Well located asset just outside of Downtown Long Beach and about 1 mile to Alamitos Beach
current

UNITS: 9

GROSS RENT MULTIPLIER: 11.5

CAP RATE: 5.8%

AGENT: anthonywalker

PRICE

$2,400,000

ANNUAL INCOME

$202,380

ANNUAL NOI

$139,325

ANNUAL EXPENSE

$63,969

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
111$1,495$1,495$1,495$1,495
121$1,795$1,795$1,795$1,795
121$1,795$1,795$1,795$1,795
121$1,795$1,795$1,795$1,795
131$2,300$2,300$2,300$2,300
121$1,795$1,795$1,795$1,795
121$1,795$1,795$1,795$1,795
121$1,795$1,795$1,795$1,795
131$2,300$2,300$2,300$2,300
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
9199$16,865$16,865