1015 Georgia St
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1015 Georgia St
5 Unit Apartment Building $2,900,000 ($580,000/Unit) 3.92% Cap Rate Huntington Beach, CA 92648
Investment Highlights
- Located near downtown Huntington Beach
- Located near downtown restaurants and beach
Executive Summary
A rare, well maintained 5 unit multi-family property located near downtown Huntington Beach. This property is currently occupied with great tenants, 4 of which are on leases and one on month to month. There are 3 units with 2 bedrooms, 1 unit that has 3 bedrooms and 1 studio apt. There are 4 single car garages to the front of the building and a separate 2 car garage located to the rear of the property. Each unit is separately metered and the entire property is profesionally managed by a property management company. The property is conveniently located just a short distance to downtown, the pier and the beach.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$142,884
|
$19.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,884
|
$19.85
|
| Taxes |
$8,494
|
$1.18
|
| Operating Expenses |
$20,598
|
$2.86
|
| Total Expenses |
$29,092
|
$4.04
|
| Net Operating Income |
$113,792
|
$15.80
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $142,884 |
| Annual Per SF | $19.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,884 |
| Annual Per SF | $19.85 |
| Taxes | |
|---|---|
| Annual | $8,494 |
| Annual Per SF | $1.18 |
| Operating Expenses | |
|---|---|
| Annual | $20,598 |
| Annual Per SF | $2.86 |
| Total Expenses | |
|---|---|
| Annual | $29,092 |
| Annual Per SF | $4.04 |
| Net Operating Income | |
|---|---|
| Annual | $113,792 |
| Annual Per SF | $15.80 |
Property Facts
| Price | $2,900,000 | Building Class | C |
| Price Per Unit | $580,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 7,200 SF |
| Cap Rate | 3.92% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,900,000 |
| Price Per Unit | $580,000 |
| Sale Type | Investment |
| Cap Rate | 3.92% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 0.83/1,000 SF |
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $2,860 | - |
| Studios | 1 | $1,815 | - |
| 2+1 | 3 | $2,461 | - |
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Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 025-173-15 | Total Assessment | $696,633 (2024) |
| Land Assessment | $424,194 (2024) | Annual Taxes | $8,494 ($1.18/SF) |
| Improvements Assessment | $272,439 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
025-173-15
Land Assessment
$424,194 (2024)
Improvements Assessment
$272,439 (2024)
Total Assessment
$696,633 (2024)
Annual Taxes
$8,494 ($1.18/SF)
Tax Year
2022
zoning
| Zoning Code | Multi Family (Multi Family Dwelling) |
| Multi Family (Multi Family Dwelling) |
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1015 Georgia St
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