fbpx Skip to main content
search
← Back to Property Listings
Sold

362 E Louise St, Long Beach

  • 12 Units near development projects and zoning changes in North Long Beach
  • Great unit mix – (8) 2 bed, 1 bath & (4) 1 bed, 1 bath on a massive 12,000 sqft lot
  • Interior renovations to some units, maintaining room for value-add
  • Recent new roof on the entirety of the property
  • Well known developers, LAB Holding, best known for the Anaheim Packing District and The LAB Anti Mall, are permitted to build “The Beat” on nearby Atlantic Avenue
  • Additional development plans by nationally renowned developers approved throughout the North Long Beach Area
  • Dense rental market with low vacancy throughout the area
  • GRM on current rents of 14.72X, Cap Rate on current rents of 4.2% – over 13% upside in market rents
  • There is additional income available to the buyer through garage and laundry fees

Property Details

  • Units: 12
  • Gross Rent Multiplier: 14.72
  • Cap Rate: 4.2

Download Offering Memorandum

Contact Listing Agent

Price

$3,500,000

Annual Income

$237,756

Annual NOI

$147,671

Annual Expense

$82,952

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
411$1,521$6,084$1,600$6,400
821$1,715$13,720$2,000$16,000
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
1232$19,804$22,400

Let’s Discuss This Property

Please fill out the form below and we’ll get back to you as soon as we can.

This field is for validation purposes and should be left unchanged.

Leave a Reply

Close Menu