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401 E 7th, Long Beach 90813

  • Craftsman corner lot 4 unit property in Downtown Long Beach’s East Village Arts District
  • Great curb appeal and filled with character, only blocks away from billions of dollars in new development, restaurants, galleries, studios, and the ocean
  • Excellent value add opportunity with 2 units to be delivered vacant plus a 15% upside in current rents
  • Strong in place income at 13.7X gross on current rents and a market GRM of 11.99.
  • 2 garages for additional income and tenant convenience
  • Rare opportunity to own a well-located 4 unit property for just above $1M
  • Great unit mix in dense rental market with low vacancy
  • Perfect for an owner occupant buyer or as an investment property
current

Download Offering Memorandum

UNITS: 4

GROSS RENT MULTIPLIER: 14.33

CAP RATE: 4.0%

AGENT: anthonywalker

PRICE

$1,095,000

ANNUAL INCOME

$74,016

ANNUAL NOI

$43,459

ANNUAL EXPENSE

$29,257

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
111$1,028$1,028$1,450$1,450
111$1,450$1,450$1,450$1,450
122$1,800$1,800$1,800$1,800
132$1,890$1,890$2,400$2,400
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
476 $6,168 $7,100