1381 Temple Ave
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1381 Temple Ave
5 Unit Apartment Building $1,825,000 ($365,000/Unit) 6.96% Cap Rate Long Beach, CA 90804
Investment Highlights
- Exclusively Spacious Three-Bedroom Units Measuring Approximately 1,260 Square Feet
- 4 Single-Car Garages, an In-Demand Amenity for Long Beach Renters
- Walking Distance to Orizaba Park, a 3.72-Acre Public Park
- Gated Pedestrian Access Leading to a Shared Courtyard and Back Patio
- On-Site Laundry Facility Provides an Additional Revenue Stream
- Located Less Than Half-a-Mile from Belmont Center, Anchored by Food4Less
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1381 Temple Avenue, a 5-unit multifamily investment property located in Long Beach, CA.
1381 Temple Avenue features exclusively spacious three-bedroom units averaging approximately 1,260 square feet. The property offers attractive amenities including a shared courtyard and back patio, gated pedestrian access, and 4 single-car garages.
Situated in the Zaferia neighborhood of Long Beach, 1381 Temple Avenue’s central Long Beach location provides residents convenient access throughout the city. Residents enjoy walkable access to Orizaba Park, a 3.72-acre public park offering a soccer field, a skate park, a basketball court, and a spacious community center. Additionally, the property is located less than half-a-mile from the Food4Less and Rite Aid anchored Belmont Center, providing residents with easy access to daily necessities.
The property’s ideal Long Beach location surrounded by an abundance of recreational and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 1381 Temple Avenue.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
1381 Temple Avenue features exclusively spacious three-bedroom units averaging approximately 1,260 square feet. The property offers attractive amenities including a shared courtyard and back patio, gated pedestrian access, and 4 single-car garages.
Situated in the Zaferia neighborhood of Long Beach, 1381 Temple Avenue’s central Long Beach location provides residents convenient access throughout the city. Residents enjoy walkable access to Orizaba Park, a 3.72-acre public park offering a soccer field, a skate park, a basketball court, and a spacious community center. Additionally, the property is located less than half-a-mile from the Food4Less and Rite Aid anchored Belmont Center, providing residents with easy access to daily necessities.
The property’s ideal Long Beach location surrounded by an abundance of recreational and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 1381 Temple Avenue.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$189,768
|
$30.12
|
| Other Income |
$2,280
|
$0.36
|
| Vacancy Loss |
$5,693
|
$0.90
|
| Effective Gross Income |
$186,355
|
$29.58
|
| Taxes |
$22,634
|
$3.59
|
| Operating Expenses |
$36,708
|
$5.83
|
| Total Expenses |
$59,342
|
$9.42
|
| Net Operating Income |
$127,013
|
$20.16
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $189,768 |
| Annual Per SF | $30.12 |
| Other Income | |
|---|---|
| Annual | $2,280 |
| Annual Per SF | $0.36 |
| Vacancy Loss | |
|---|---|
| Annual | $5,693 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $186,355 |
| Annual Per SF | $29.58 |
| Taxes | |
|---|---|
| Annual | $22,634 |
| Annual Per SF | $3.59 |
| Operating Expenses | |
|---|---|
| Annual | $36,708 |
| Annual Per SF | $5.83 |
| Total Expenses | |
|---|---|
| Annual | $59,342 |
| Annual Per SF | $9.42 |
| Net Operating Income | |
|---|---|
| Annual | $127,013 |
| Annual Per SF | $20.16 |
Property Facts In Escrow
| Price | $1,825,000 | Apartment Style | Low Rise |
| Price Per Unit | $365,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.96% | Building Size | 6,300 SF |
| Gross Rent Multiplier | 9.5 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 0.63/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,825,000 |
| Price Per Unit | $365,000 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,300 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.63/1,000 SF |
| Opportunity Zone |
Yes |
Site Amenities
- Controlled Access
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 5 | - | 1,260 |
Walk Score ®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 7260-026-014 | Total Assessment | $1,978,800 |
| Land Assessment | $1,020,000 | Annual Taxes | $22,634 ($3.59/SF) |
| Improvements Assessment | $958,800 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
7260-026-014
Land Assessment
$1,020,000
Improvements Assessment
$958,800
Total Assessment
$1,978,800
Annual Taxes
$22,634 ($3.59/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | LBR2N |
| LBR2N |
-
Tyler Leeson -
Nick Kazemi -
Evan Gray -
Marcus & Millichap
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