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167 E 67th St, 90805

Recently Closed!

Happy to announce that Cody Charnell’s client just closed escrow on this well-maintained triplex in North Long Beach. The property consists of a detached 2bed/2bath house in the front and two cottages in the rear featuring 1bed/1bath and a studio. We were able to beat two other offers and complete the purchase using low many down FHA financing.

Unit                    Current                Market
2bd/2ba                $2000                   $2100
1bd/1ba                $1100                   $1350
Studio                   $900                     $1100
Garage (2)                                         $100      
Total                     $4000                    $4650

Current GRM:  13.04
Market GRM:   11.2

sold

UNITS: 3

GROSS RENT MULTIPLIER: 13.04

CAP RATE: 4.4%

AGENT: Cody Charnell

PRICE

$626,000

ANNUAL INCOME

$49,200

ANNUAL NOI

$31,980

ANNUAL EXPENSE

$17,220

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
122$2,000$2,000$2,100$2,100
111$1,100$1,100$1,350$1,350
101$900$900$1,100$1,100
$$0$100$0
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
334 $4,000 $4,550