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32 Argonne Ave, Long Beach

  • Totally remodeled 5-unit building only steps away from the sand in Belmont Shore
  • All units have been extensively renovated including kitchens, bathrooms, flooring, lighting, and finishes
  • Beautifully restored 1930’s building full of character
  • Units newly leased at market rent, no rent rollback risk from AB 1482
  • Low maintenance building with separately metered gas and electric, no landscaping
  • Strong income on in-place rents at 16.76 GRM, 3.6% cap rate
  • Perfect for 1031 exchange upleg

Property Details

  • Units: 5
  • Gross Rent Multiplier: 16.76
  • Cap Rate: 3.6%
Contact Listing Agent

Price

$1,895,000

Annual Income

$109,707

Annual NOI

$68,612

Annual Expense

$41,095

Rental Cost Details


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# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
101$$0$1,695$1,695
411$1,933$7,730$1,933$7,730
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
512$7,730$9,425

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