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2123 W Columbia St, Long Beach

PRIME INVESTMENT OPPORTUNITY! Situated on a tranquil cul-de-sac and within walking distance to Steven’s Middle School, this meticulously maintained property offers four updated units, comprised of a diverse unit mix of (1) 3bd 1.5ba owners unit (1) 2bd 1.5 bath (3) 1bd 1ba and (1) studio. Recent upgrades include updated plumbing, electrical, water heater(s), wall heater(s), and interior renovations. The large driveway offers plenty of off street parking for the tenants. This excellent value-add opportunity boasts over 70% upside in income potential. Additional income is available with a coin-operated laundry room with a $200 monthly revenue potential. Priced attractively at $259,167/ unit, this investment gem is a rare find in Long Beach. Don’t miss out on the chance to secure a lucrative investment property with strong tenant demand and substantial income growth potential.

Contact Chris Crosby for more information.

(650)549-4849

chris.crosby@buckinghaminvestments.com

Property Details

  • Units: 6
  • Gross Rent Multiplier: 18.35
  • Cap Rate: 2.6

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Price

$1,555,000

Annual Income

$82,320

Annual NOI

$40,938

Annual Expense

$41,312

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
132$1,465$1,465$2,995$2,995
111$1,125$1,125$1,750$1,750
111$1,090$1,090$1,750$1,750
101$1,150$1,150$1,600$1,600
122$1,015$1,015$2,150$2,150
111$1,015$1,015$1,750$1,750
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
688$6,860$11,995

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