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3622 E 11th St, Long Beach
- Perfectly located mid-century 6 unit on a full sized lot with 3800 square feet of rentable space
- Great unit mix with four 1 bed/1 bath units, one 2 bed/1 bath unit, and one 2 bed/1.5 bath unit including attractive outdoor private spaces
- Well priced on actual income at 11.14X GRM
- Ample parking including one enclosed garage and 4 surface spaces
- Select units have in-unit laundry plus a community laundry room for additional income
- 5 out of 6 units recently remodeled and all electrical subpanels recently replaced
- Perfect 1031 exchange upleg property
Property Details
- Units: 6
- Gross Rent Multiplier: 11.14
- Cap Rate: 5.6
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$1,595,000
Annual Income
$140,184
Annual NOI
$89,334
Annual Expense
$49,584
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $2,195 | $2,195 | $2,200 | $2,200 |
| 1 | 1 | 1 | $1,750 | $1,750 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,795 | $1,795 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,850 | $1,850 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,595 | $1,595 | $1,800 | $1,800 |
| 1 | 2 | 1 | $2,495 | $2,495 | $2,500 | $2,500 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 6 | 8 | 6 | $11,680 | $11,900 |
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