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10th and Alamitos Corner – Development Opportunity

  • 4 Contiguous lots totaling 13,779 square feet comprising the Southwest corner of Alamitos Ave and 10th St
  • All four parcels zoned Downtown Plan PD30
  • Potential to build up to 22 residential units plus an additional 3 accessory dwelling units
  • Gross floor area potential of 30,980 square feet with a 38’ building height
  • Phase I and II environmental reports complete
  • Strong income in place (month to month) while waiting for entitlements at a 4.3% cap rate
  • Highly visible signalized intersection with a daily traffic count of 20,800 cars

Property Details

  • Units: 3
  • Gross Rent Multiplier: 16.03
  • Cap Rate: 4.0%

Download Offering Memorandum

Contact Listing Agent

Price

$1,500,000

Annual Income

$93,600

Annual NOI

$60,094

Annual Expense

$28,826

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
101$3,500$3,500$4,000$4,000
101$2,750$2,750$2,750$2,750
132$1,550$1,550$2,200$2,200
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
334$7,800$8,950

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