17th Street Investment | 247 17th St
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17th Street Investment 247 17th St
2 Unit Apartment Building $1,874,000 ($937,000/Unit) 2.51% Cap Rate Seal Beach, CA 90740
Investment Highlights
- Walking distance to the beach
- Consistent rental income in highly desirable area
- Coastal living
Executive Summary
West of Seal Beach Blvd and South of PCH, this extremely rare opportunity allows a new owner the chance to acquire a piece of the Southern California Coastline.
There is a washer/dryer on-site and a One (1) Car Garage for each unit. The property is just a short walk to the beach, and Seal Beach's Main St and Pier. Additionally, there is upside in rental income, with CURRENT RENTS AT BELOW MARKET rate. A new owner could also consider implementing a "House-Hacking" strategy of living in one unit and renting out the other, should a new vacancy arise. Advantageous residential financing programs are also available for 1-4 unit properties as well (Call For More Details).
Highlights-
- Property is found in the highly desirable coastal market of Seal Beach, CA
- Unit Mix includes one (1) 3BD/2BA unit and one (1) 2BD/1BA unit
- Single-Car Garage Parking and On-Site Laundry Available for tenant use
- Proximity to the Seal Beach Pier and Main St
- Upside in rental income
- Desirable residential financing available for 1-4 unit properties
- Walking Distance to the Beach!
There is a washer/dryer on-site and a One (1) Car Garage for each unit. The property is just a short walk to the beach, and Seal Beach's Main St and Pier. Additionally, there is upside in rental income, with CURRENT RENTS AT BELOW MARKET rate. A new owner could also consider implementing a "House-Hacking" strategy of living in one unit and renting out the other, should a new vacancy arise. Advantageous residential financing programs are also available for 1-4 unit properties as well (Call For More Details).
Highlights-
- Property is found in the highly desirable coastal market of Seal Beach, CA
- Unit Mix includes one (1) 3BD/2BA unit and one (1) 2BD/1BA unit
- Single-Car Garage Parking and On-Site Laundry Available for tenant use
- Proximity to the Seal Beach Pier and Main St
- Upside in rental income
- Desirable residential financing available for 1-4 unit properties
- Walking Distance to the Beach!
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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,874,000 | Building Class | C |
| Price Per Unit | $937,000 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 2,295 SF |
| Cap Rate | 2.51% | Average Occupancy | 100% |
| Gross Rent Multiplier | 24.6 | No. Stories | 2 |
| No. Units | 2 | Year Built/Renovated | 1964/2016 |
| Property Type | Multifamily | Parking Ratio | 0.87/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,874,000 |
| Price Per Unit | $937,000 |
| Sale Type | Investment |
| Cap Rate | 2.51% |
| Gross Rent Multiplier | 24.6 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,295 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2016 |
| Parking Ratio | 0.87/1,000 SF |
Unit Amenities
- Deck
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+3 | 2 | - | - |
1 of 1
Walk Score ®
Very Walkable (82)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 199-064-05 | Total Assessment | $1,303,949 (2023) |
| Land Assessment | $1,218,119 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $85,830 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
199-064-05
Land Assessment
$1,218,119 (2023)
Improvements Assessment
$85,830 (2023)
Total Assessment
$1,303,949 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | RHD-20 (Residential High Density Zoning - 20) |
| RHD-20 (Residential High Density Zoning - 20) |
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17th Street Investment | 247 17th St
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