fbpx GET STARTED

2823 E 7th St, Long Beach 90804

  • Excellent Rose Park location, close to Retro Row, Belmont Heights and Alamitos Beach
  • Extensively renovated property including newer roof, windows, electrical panels, controlled access, exterior refresh, landscaping, common areas, and lighting
  • 7 out of 10 units interiors with deluxe upgrades including modern kitchens and bathrooms
  • Stabilized asset at a 4.3% cap rate on actual rents with an upside of 4.8%
  • 4 garages plus 4 off-street parking spaces
  • Community laundry facility for extra income
  • Great unit mix with 4 two bedroom units and 6 one bedroom units
  • Excellent ADU potential with 4 garages that could be converted with entry onto the courtyard
current

Download Offering Memorandum

UNITS: 10

GROSS RENT MULTIPLIER: 14.49

CAP RATE: 4.3%

AGENT: anthonywalker

PRICE

$3,150,000

ANNUAL INCOME

$206,940

ANNUAL NOI

$136,945

ANNUAL EXPENSE

$69,995

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
121$1,900$1,900$2,100$2,100
111$1,695$1,695$1,750$1,750
111$1,650$1,650$1,750$1,750
121$1,950$1,950$2,100$2,100
121$1,925$1,925$2,100$2,100
111$1,695$1,695$1,750$1,750
111$1,650$1,650$1,750$1,750
121$1,895$1,895$2,100$2,100
111$1,550$1,550$1,750$1,750
111$1,550$1,550$1,750$1,750
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
101410 $17,460 $18,900