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2823 E 7th St, Long Beach

  • Excellent Rose Park location, close to Retro Row, Belmont Heights and Alamitos Beach
  • Extensively renovated property including newer roof, windows, electrical panels, controlled access, exterior refresh, landscaping, common areas, and lighting
  • 7 out of 10 units interiors with deluxe upgrades including modern kitchens and bathrooms
  • Stabilized asset at a 4.3% cap rate on actual rents with an upside of 4.8%
  • 4 garages plus 4 off-street parking spaces
  • Community laundry facility for extra income
  • Great unit mix with 4 two bedroom units and 6 one bedroom units
  • Excellent ADU potential with 4 garages that could be converted with entry onto the courtyard

Property Details

  • Units: 10
  • Gross Rent Multiplier: 14.49
  • Cap Rate: 4.3%

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Contact Listing Agent

Price

$3,150,000

Annual Income

$206,940

Annual NOI

$136,945

Annual Expense

$69,995

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
121$1,900$1,900$2,100$2,100
111$1,695$1,695$1,750$1,750
111$1,650$1,650$1,750$1,750
121$1,950$1,950$2,100$2,100
121$1,925$1,925$2,100$2,100
111$1,695$1,695$1,750$1,750
111$1,650$1,650$1,750$1,750
121$1,895$1,895$2,100$2,100
111$1,550$1,550$1,750$1,750
111$1,550$1,550$1,750$1,750
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
101410$17,460$18,900

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