Sold
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
Price
$925,000
Annual Income
$74,372
Annual NOI
$45,563
Annual Expense
$28,809
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 3 | 1 | $2,100 | $2,100 | $2,100 | $2,100 |
| 1 | 0 | 1 | $777 | $777 | $1,150 | $1,150 |
| 1 | 1 | 1 | $1,200 | $1,200 | $1,375 | $1,375 |
| 1 | 1 | 1 | $913 | $913 | $1,300 | $1,300 |
| 1 | 1 | 1 | $1,255 | $1,255 | $1,375 | $1,375 |
| $45 | $0 | $100 | $0 | |||
| $50 | $0 | $50 | $0 | |||
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 5 | 6 | 5 | $6,245 | $7,300 |
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