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811-817 Rose, Long Beach

  • Rare portfolio property of 16 units on 2 parcels separated by an entry courtyard
  • Perfect unit mix of 100% 2 bed/1 bath apartments
  • All but 2 units recently upgraded including flooring, kitchen cabinets, quartz counters, and new bathrooms
  • All windows recently replaced
  • Strong actual income at 13.5X gross plus an additional 11% upside in rents to a market GRM of 12.3
  • 2 garages plus 15 off street parking spaces
  • Less than a mile to Alamitos Beach and only 4 blocks to Retro Row
current

Download Offering Memorandum

UNITS: 16

GROSS RENT MULTIPLIER: 13.54

CAP RATE: 4.6%

AGENT: anthonywalker

PRICE

$4,700,000

ANNUAL INCOME

$327,960

ANNUAL NOI

$217,909

ANNUAL EXPENSE

$112,925

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
1621$28$448$31$496
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
1621$448$496