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1483 Atlantic Ave, Long Beach
- 12 units: 8 one beds, 4 studios
- 4 garages in rear (not on the soft story retrofit scope with LB)
- 1921 construction, but all major systems have been updated
- 4946 rentable square feet, 6305 square foot lot
- Directly across from Poly High School and Roosevelt Elementary
- Full electrical and plumbing systems replaced in the modern era
- Roof replaced in 2017, all windows, sewer line, storm area drains, rear building siding, garage doors, front entry gate
- 10 out of 12 units remodeled
Property Details
- Units: 12
- Gross Rent Multiplier: 9.31
- Cap Rate: 6.9
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$2,200,000
Annual Income
$231,630
Annual NOI
$151,932
Annual Expense
$72,917
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 0 | 1 | $1,395 | $1,395 | $1,495 | $1,495 |
| 1 | 0 | 1 | $1,489 | $1,489 | $1,495 | $1,495 |
| 1 | 1 | 1 | $1,830 | $1,830 | $1,850 | $1,850 |
| 1 | 1 | 1 | $1,725 | $1,725 | $1,850 | $1,850 |
| 1 | 0 | 1 | $1,350 | $1,350 | $1,495 | $1,495 |
| 1 | 0 | 1 | $1,350 | $1,350 | $1,495 | $1,495 |
| 1 | 1 | 1 | $1,540 | $1,540 | $1,850 | $1,850 |
| 1 | 1 | 1 | $1,625 | $1,625 | $1,850 | $1,850 |
| 1 | 1 | 1 | $1,750 | $1,750 | $1,750 | $1,750 |
| 1 | 1 | 1 | $1,821 | $1,821 | $1,850 | $1,850 |
| 1 | 1 | 1 | $1,595 | $1,595 | $1,850 | $1,850 |
| 1 | 1 | 1 | $1,833 | $1,833 | $1,850 | $1,850 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 12 | 8 | 12 | $19,303 | $20,680 |
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