3.59% Assumable Financing Available | 1836 E 1st St
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3.59% Assumable Financing Available 1836 E 1st St
16 Unit Apartment Building $4,150,000 ($259,375/Unit) 4.56% Cap Rate Long Beach, CA 90802
INVESTMENT HIGHLIGHTS
- 3.59% Finanancing Available Until April 1, 2027
- New Electrical and Gas Lines
- Non-Conforming Unit Currently in the Permitting Process
- Prime Bixby Park Location
- Most Units Renovated with In-Unit Washer/Dryers
EXECUTIVE SUMMARY
1836 E. 1st Street is a 16-unit apartment asset located in prime Bixby Park, Long Beach. Assumable financing is available at 3.59% until April 1, 2027.
The controlled access building is comprised of (11) studios, (2) 1BD/1BA, and (3) 2BD/1BA. Most units have been renovated and feature in-unit washer/dryers. One of the 16 units is a non-conforming studio that is currently in the process of being permitted.
Building improvements include brand new electrical and gas lines. On-site laundry provides current income.
1836 E. 1st Street is located two blocks from the beach and in close proximity to all the best of coastal living.
The controlled access building is comprised of (11) studios, (2) 1BD/1BA, and (3) 2BD/1BA. Most units have been renovated and feature in-unit washer/dryers. One of the 16 units is a non-conforming studio that is currently in the process of being permitted.
Building improvements include brand new electrical and gas lines. On-site laundry provides current income.
1836 E. 1st Street is located two blocks from the beach and in close proximity to all the best of coastal living.
PROPERTY FACTS
| Price | $4,150,000 | Property Subtype | Apartment |
| Price Per Unit | $259,375 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.56% | Lot Size | 0.19 AC |
| Gross Rent Multiplier | 13.17 | Building Size | 7,676 SF |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Price | $4,150,000 |
| Price Per Unit | $259,375 |
| Sale Type | Investment |
| Cap Rate | 4.56% |
| Gross Rent Multiplier | 13.17 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 7,676 SF |
| No. Stories | 1 |
| Year Built | 1923 |
UNIT AMENITIES
- Washer/Dryer
- Kitchen
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 2 | - | - |
| Studios | 11 | - | - |
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Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 7265-018-007 | Improvements Assessment | $781,182 |
| Land Assessment | $2,403,649 | Total Assessment | $3,184,831 |
PROPERTY TAXES
Parcel Number
7265-018-007
Land Assessment
$2,403,649
Improvements Assessment
$781,182
Total Assessment
$3,184,831
ZONING
| Zoning Code | R4R |
| R4R |
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3.59% Assumable Financing Available | 1836 E 1st St
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