3374 Santa Fe Ave
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3374 Santa Fe Ave
6 Unit Apartment Building $1,449,999 ($241,667/Unit) 5.90% Cap Rate Long Beach, CA 90810
Investment Highlights
- CONVENIENT ALLEY ACCESS
- NEWER WINDOWS
- UPDATED PLUMBING
Executive Summary
This property offers a great investment opportunity with current market rents and potential for value growth. Located near schools, restaurants, and freeways, it provides convenient alley access to 4 parking spots. Each unit features 2 bedrooms, 1 bathroom, and is approximately 587 sq ft. A few upgrades include newer concrete in common areas, newer windows, updated plumbing in the kitchens and bathrooms, and new tile in some units. The property is also secured with gates at both the front and rear.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$112,344
|
$31.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$112,344
|
$31.92
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,767
|
$7.60
|
| Net Operating Income |
$85,577
|
$24.31
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $112,344 |
| Annual Per SF | $31.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $112,344 |
| Annual Per SF | $31.92 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $26,767 |
| Annual Per SF | $7.60 |
| Net Operating Income | |
|---|---|
| Annual | $85,577 |
| Annual Per SF | $24.31 |
Property Facts
| Price | $1,449,999 | Apartment Style | Low Rise |
| Price Per Unit | $241,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 5.90% | Building Size | 3,520 SF |
| Gross Rent Multiplier | 12.9 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Price | $1,449,999 |
| Price Per Unit | $241,667 |
| Sale Type | Investment |
| Cap Rate | 5.90% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,520 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.13/1,000 SF |
Unit Amenities
- Air Conditioning
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Courtyard
- Gated
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 587 |
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PROPERTY TAXES
| Parcel Number | 7312-001-053 | Improvements Assessment | $377,049 (2024) |
| Land Assessment | $530,223 (2024) | Total Assessment | $907,272 (2024) |
PROPERTY TAXES
Parcel Number
7312-001-053
Land Assessment
$530,223 (2024)
Improvements Assessment
$377,049 (2024)
Total Assessment
$907,272 (2024)
zoning
| Zoning Code | R3T (A zoning district for medium to high density residential areas that's intended for multiple-family units.) |
| R3T (A zoning district for medium to high density residential areas that's intended for multiple-family units.) |
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3374 Santa Fe Ave
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