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417 W 8th St, Long Beach, CA 90813

  • Triplex + 2 non conforming units for a total of 5 units
  • Large house at the front of the property is permitted as one unit but has been split into 3 units. The structure features a 1bd/1bath unit in the attic with a 3bed/1bath unit, studio unit, and community laundry room on the first floor.
  • Excellent location, blocks from the Downtown core and easy access to freeways and public transit.
  • Well maintained property with multiple upgraded units
  • (2) 1-car garages and 4-car driveway
  • Strong actual income at 12.07 X gross plus a 16.6% upside in rents to a market GRM of 10.21 X and a pro forma cap rate of 6.2%
  • Onsite laundry room with coin operate machines
  • Located in the Willmore Historic District with excellent rental demand.
  • Significant exterior refresh completed within last 5 years

Property Details

  • Units: 5
  • Gross Rent Multiplier: 12.07
  • Cap Rate: 4.9
Contact Listing Agent

Price

$925,000

Annual Income

$74,372

Annual NOI

$45,563

Annual Expense

$28,809

Rental Cost Details


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# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
131$2,100$2,100$2,100$2,100
101$777$777$1,150$1,150
111$1,200$1,200$1,375$1,375
111$913$913$1,300$1,300
111$1,255$1,255$1,375$1,375
$45$0$100$0
$50$0$50$0
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
565$6,245$7,300

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