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41-Unit Apartment Portfolio , Long Beach

  • 3 properties spread over 5 parcels within half a mile
  • Over 30,000 total rentable square feet and approximately three quarters of an acre of land
  • All buildings are 1960’s construction and 36 out of 41 are 2-bedroom units
  • Over 80% of units have been recently upgraded
  • Strong actual income at 13.6X gross plus a 14% total upside in rents
current

Download Offering Memorandum

UNITS: 41

GROSS RENT MULTIPLIER: 13.6

CAP RATE: 4.5%

AGENT: anthonywalker

PRICE

$11,800,000

ANNUAL INCOME

$823,920

ANNUAL NOI

$531,000

ANNUAL EXPENSE

$292,920

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
131$2,300$2,300$2,300$2,300
232$2,150$4,300$2,300$4,600
3721$1,642$60,760$1,890$69,920
111$1,300$1,300$1,395$1,395
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
4195$68,660$78,215