433-439 Linden Ave
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433-439 Linden Ave
6 Unit Apartment Building $2,100,000 ($350,000/Unit) 5.33% Cap Rate Long Beach, CA 90802
Investment Highlights
- Fully Rehabbed with Copper Plumbing, New Electrical, New Roof, and New Windows
- All Two and Three Bedroom Units
- Excellent East Village Location
- Below Market Rents
Executive Summary
Excellent opportunity to acquire a well maintained "Turnkey" 6 unit building in a great Long Beach location. The building has been impeccably maintained and features 4 Two Bedroom One Bath units, 1 Three bedroom One Bath unit, and 1 Three Bedroom Two Bath units. The units are separately metered for utilities and the two Three Bedroom units are also separately metered for water. Currently the rents are below market allowing for a new owner to capitalize on some easy upside. Over the years the building has been upgraded and today is completely copper replumbed, has upgraded electrical, new windows and most recently a new roof.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$168,180
|
$27.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,045
|
$0.82
|
| Effective Gross Income |
$163,135
|
$26.60
|
| Taxes |
$26,130
|
$4.26
|
| Operating Expenses |
$25,096
|
$4.09
|
| Total Expenses |
$51,226
|
$8.35
|
| Net Operating Income |
$111,909
|
$18.24
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $168,180 |
| Annual Per SF | $27.42 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,045 |
| Annual Per SF | $0.82 |
| Effective Gross Income | |
|---|---|
| Annual | $163,135 |
| Annual Per SF | $26.60 |
| Taxes | |
|---|---|
| Annual | $26,130 |
| Annual Per SF | $4.26 |
| Operating Expenses | |
|---|---|
| Annual | $25,096 |
| Annual Per SF | $4.09 |
| Total Expenses | |
|---|---|
| Annual | $51,226 |
| Annual Per SF | $8.35 |
| Net Operating Income | |
|---|---|
| Annual | $111,909 |
| Annual Per SF | $18.24 |
Property Facts
| Price | $2,100,000 | Apartment Style | Low Rise |
| Price Per Unit | $350,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.33% | Building Size | 6,134 SF |
| Gross Rent Multiplier | 12.49 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1905/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,100,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.49 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,134 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1905/2022 |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,210 | 800 |
| 3+1 | 1 | $2,375 | 1,300 |
| 3+2 | 1 | $2,800 | 1,500 |
1 of 1
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 7281-007-005 | Total Assessment | $354,532 (2024) |
| Land Assessment | $206,813 (2024) | Annual Taxes | $26,130 ($4.26/SF) |
| Improvements Assessment | $147,719 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7281-007-005
Land Assessment
$206,813 (2024)
Improvements Assessment
$147,719 (2024)
Total Assessment
$354,532 (2024)
Annual Taxes
$26,130 ($4.26/SF)
Tax Year
2023
zoning
| Zoning Code | RR4H, Long Beach |
| RR4H, Long Beach |
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433-439 Linden Ave
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