2823 E 7th St, 90804
Property consists of a single two-story building that contains four (4) two-bedroom, one-bathroom and six (6) one-bedroom units. The asset is in good condition, with four of the units newly renovated and performing at market rents.
• 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
• 4 out of 10 unit interiors with deluxe upgrades
including modern kitchens and bathrooms
• Stabilized asset at a 4.4% cap rate on actual rents
plus an additional 5% upside to income
• 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
PRICE
$2,945,000
ANNUAL INCOME
$193,047
ANNUAL NOI
$130,821
ANNUAL EXPENSE
$62,226
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $1,750 | $1,750 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,595 | $1,595 | $1,595 | $1,595 |
| 1 | 1 | 1 | $1,450 | $1,450 | $1,595 | $1,595 |
| 1 | 2 | 1 | $1,750 | $1,750 | $1,895 | $1,895 |
| 1 | 2 | 1 | $1,895 | $1,895 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,670 | $1,670 | $1,670 | $1,670 |
| 1 | 1 | 1 | $1,595 | $1,595 | $1,595 | $1,595 |
| 1 | 2 | 1 | $1,750 | $1,750 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,450 | $1,450 | $1,595 | $1,595 |
| 1 | 1 | 1 | $1,450 | $1,450 | $1,595 | $1,595 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 10 | 14 | 10 | $16,355 | $17,225 |