Sold
1513 E Broadway, Long Beach
- Seller financing available! Steps to the Ocean!
- Coastal 5-unit property in Long Beach’s highly desirable Alamitos Beach
neighborhood - Desirable mix of (1) 2-bedroom, 2-bath and (4) 1-bedroom, 1-bath units
- Tenants enjoy walkable coastal living, steps from the beach, Bixby Park, Retro Row, Belmont Shore, and the vibrant Broadway corridor featuring popular dining, coffee shops, and local boutiques
- Convenient access to Downtown Long Beach, Belmont Shore, and major employment
centers, further enhancing long-term investment appeal • (1) 1-bedroom 1-bath unit can be delivered vacant • Building does not have separate meters but utility expenses have been consistently low - Offered at 11.7 GRM and 5.1% Cap Rate
Property Details
- Units: 5
- Gross Rent Multiplier: 11.76
- Cap Rate: 5.1
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Contact Listing AgentPrice
$1,395,000
Annual Income
$118,620
Annual NOI
$71,322
Annual Expense
$43,739
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 2 | $2,400 | $2,400 | $2,600 | $2,600 |
| 1 | 1 | 1 | $1,895 | $1,895 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,800 | $1,800 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,895 | $1,895 | $1,895 | $1,895 |
| 1 | 1 | 1 | $1,895 | $1,895 | $1,895 | $1,895 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 5 | 6 | 6 | $9,885 | $10,180 |
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