816 Alamitos Ave 4 Unit Apartment Building $1,450,000 ($362,500/Unit) 4.96% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Highest income 4-unit in all of Long Beach!
- 8 blocks to the beach!
- One block north of Downtown Long Beach!
EXECUTIVE SUMMARY
- Large 3 buildings campus of a 4-unit property just outside of Downtown Long Beach
- One 5 Bed/1 Bath house, one 4 Bed/2 Bath house, two 3 Bed/1 Bath apartments on a 6,483 square foot lot
- Highest income 4-unit in the whole city of Long Beach at 11.8X GRM on actuals and 11.4X GRM on market rents
- Low expense property separately metered for gas and electric
- Well-maintained, professionally managed property in a dense, high demand rental market
- One 5 Bed/1 Bath house, one 4 Bed/2 Bath house, two 3 Bed/1 Bath apartments on a 6,483 square foot lot
- Highest income 4-unit in the whole city of Long Beach at 11.8X GRM on actuals and 11.4X GRM on market rents
- Low expense property separately metered for gas and electric
- Well-maintained, professionally managed property in a dense, high demand rental market
FINANCIAL SUMMARY (ACTUAL - 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
|
PROPERTY FACTS
| Price | $1,450,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 4.96% |
| Gross Rent Multiplier | 11.84 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,274 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 5+1 | 1 | $3,090 | - |
| 4+2 | 1 | $2,895 | - |
| 3+1 | 1 | $2,128 | - |
| 3+1 | 1 | $2,095 | - |
1 of 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 7267-025-031 | Total Assessment | $1,353,039 |
| Land Assessment | $880,802 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $472,237 | Tax Year | 2024 |
ZONING
| Zoning Code | LBR4N |
