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1426 Cherry, Long Beach 90802

  • Well-located 4-unit property just outside of Downtown Long Beach
  • Major value add potential with a 37% upside on actual income
  • Huge ADU development potential with 10 single garages in a separate structure on the lot
  • Excellent unit mix with (2) three bedroom units and (2) two bedroom units
  • Strong GRM on market rents of 12.5X before considering any ADU conversion
  • Attractive 30-year fixed residential financing available
  • Perfect first-time apartment investment purchase
  • Dense rental market with low vacancy
current

Download Offering Memorandum

UNITS: 4

GROSS RENT MULTIPLIER: 17.12

CAP RATE: 3.3

AGENT: anthonywalker

PRICE

$1,350,000

ANNUAL INCOME

$75,180

ANNUAL NOI

$44,094

ANNUAL EXPENSE

$30,987

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
121$1,488$1,488$1,800$1,800
121$1,594$1,594$1,800$1,800
131$1,589$1,589$2,200$2,200
131$1,594$1,594$2,200$2,200
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
4104 $6,265 $8,000