16861 Green Ln
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16861 Green Ln
6 Unit Apartment Building $3,000,000 ($500,000/Unit) 3.40% Cap Rate Huntington Beach, CA 92649
Investment Highlights
- There's a 15-20% upside on rents
- Fireplace in each unit
- Individual garage space for each unit
- All units are leased month to month
- Walking distance to the restaurants, shops and beach
- Private patios and balconies
Executive Summary
Location, location, location! The Bolsa Chica Wetlands, Huntington Harbour, Meadowlark Golf Course, the Pacific Ocean, places of worship and countless sumptuous eateries and restaurants are literality all within one mile. This fantastic turn-key and well maintained opportunity still has an estimated 15-20% upside on rents based upon the current GSI. Each unit features a private garage, private patio or balcony and a fireplace. There's coin laundry is on-site for additional income. All units are on month-to-month leases!
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,000,000 | Apartment Style | Low Rise |
| Price Per Unit | $500,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 3.40% | Building Size | 4,606 SF |
| Gross Rent Multiplier | 19.8 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Price | $3,000,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 3.40% |
| Gross Rent Multiplier | 19.8 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,606 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.67/1,000 SF |
Unit Amenities
- Balcony
- Fireplace
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,083 | 1,606 |
| 1+1 | 5 | $2,028 | 550 - 600 |
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 178-262-17 | Improvements Assessment | $494,725 (2023) |
| Land Assessment | $414,093 (2023) | Total Assessment | $908,818 (2023) |
PROPERTY TAXES
Parcel Number
178-262-17
Land Assessment
$414,093 (2023)
Improvements Assessment
$494,725 (2023)
Total Assessment
$908,818 (2023)
zoning
| Zoning Code | RMH (Residential Medium High Density) |
| RMH (Residential Medium High Density) |
-
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