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1483 Atlantic Ave, Long Beach 90813

  • 12 Units across the street from schools
  • Eight 1 bed/1bath units, 4 studios, and 4 garages
  • Extensively remodeled in 2018 with over $200K invested including new roof, all new windows, new siding, new front gate, garage doors, and unit interiors
  • 11 out of 12 units upgraded including vinyl plank floors, cabinets, quartz counters, and new bathrooms
  • Copper plumbing and modern era electrical
  • Strong actual income at 12.85X GRM and a 5% in place cap rate
current

UNITS: 12

GROSS RENT MULTIPLIER: 12.85

CAP RATE: 5.0%

AGENT: anthonywalker

PRICE

$2,350,000

ANNUAL INCOME

$182,940

ANNUAL NOI

$116,585

ANNUAL EXPENSE

$57,208

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
101$1,150$1,150$1,195$1,195
101$1,150$1,150$1,195$1,195
111$1,475$1,475$1,475$1,475
111$1,395$1,395$1,475$1,475
101$1,095$1,095$1,100$1,100
101$1,100$1,100$1,100$1,100
111$1,225$1,225$1,295$1,295
111$1,275$1,275$1,295$1,295
111$1,295$1,295$1,395$1,395
111$1,395$1,395$1,395$1,395
111$1,295$1,295$1,395$1,395
111$1,395$1,395$1,395$1,395
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
12812$15,245$15,710