405 E Esther, Long Beach 90813
- High yield 7-unit apartment building half a block to a blue line station and steps to numerous new developments
- Great unit mix of one 6 Bed/2 Bath unit, three 3 Bed/1 Bath units, one 2 Bed/1 Bath units, one 1 Bed/1 Bath, and one studio
- Exterior refresh just completed and 5 out of 7 units remodeled
- Super strong income at 12.59X gross on actuals with a 6% upside to market GRM of 11.81X and a 5.5% market cap rate
- Qualifies for 75% LTV financing at historically low interest rates
- Off-street parking for 4-5 cars
- Just North of Downtown Long Beach
- Blue lines serves both Downtown Los Angeles and Long Beach
- Blocks away from elementary, middle, and high schools
sold
Download Offering Memorandum
PRICE
$1,850,000
ANNUAL INCOME
$139,593
ANNUAL NOI
$94,498
ANNUAL EXPENSE
$45,095
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 3 | 1 | $1,900 | $1,900 | $1,900 | $1,900 |
| 1 | 6 | 2 | $3,300 | $3,300 | $3,300 | $3,300 |
| 1 | 3 | 1 | $1,800 | $1,800 | $1,850 | $1,850 |
| 1 | 2 | 1 | $1,100 | $1,100 | $1,550 | $1,550 |
| 1 | 3 | 1 | $1,950 | $1,950 | $1,950 | $1,950 |
| 1 | 1 | 1 | $1,100 | $1,100 | $1,350 | $1,350 |
| 1 | 0 | 1 | $1,095 | $1,095 | $1,150 | $1,150 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 7 | 18 | 8 | $12,245 | $13,050 |
