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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, 1 unit interior remodeled
  • 3 additional units will be upgraded prior to delivery
  • Strong actual income at 13.3X gross plus an additional 19% upside to income to a market GRM of 11.1
  • 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

Download Offering Memorandum

UNITS: 9

GROSS RENT MULTIPLIER: 13.29

CAP RATE: 5.6%

AGENT: anthonywalker

PRICE

$2,300,000

ANNUAL INCOME

$173,100

ANNUAL NOI

$104,361

ANNUAL EXPENSE

$60,085

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
111$1,300$1,300$1,395$1,395
621$8,975$53,850$10,770$64,620
232$4,150$8,300$4,600$9,200
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
964$63,450$75,215