Sold

440 N Zona Ct, Long Beach

Perfect starter 4 unit property on a quiet street only blocks from the Beach and Downtown. Front one bed, one bath bungalow plus three studios in the rear. Front house full of historic character with hardwood floors, craftsman built-ins, large windows, renovated bathroom, kitchen, dining room, service porch and interior paint. Three well laid out studios in the rear with separate entrances, full sized bathrooms and kitchens. Well priced on actual income at 12.8X GRM plus a 9% upside to 11.8X GRM and over a 5% cap rate. Upgrades from 2020 on include newer electrical panels, new roof on front house, refreshed roof on back structure, full exterior paint, remodeled front house and one studio. Separately metered for gas and electric.

Property Details

Units: 4
Gross Rent Multiplier: 12.86
Cap Rate: 4.4

Download Offering Memorandum

Contact Listing Agent

Price

$975,000

Annual Income

$75,792

Annual NOI

$42,986

Annual Expense

$29,017

Rental Cost Details

# OF UNITS	# OF BEDROOMS	# OF BATHS	ACTUAL RENT	TOTAL RENT	PRO FORMA	TOTAL PRO FORMA
1	1	1	$1,795	$1,795	$2,100	$2,100
1	0	1	$1,450	$1,450	$1,600	$1,600
1	0	1	$1,562	$1,562	$1,600	$1,600
1	0	1	$1,562	$1,562	$1,600	$1,600
TOTAL # OF UNITS	TOTAL # OF BEDROOMS	TOTAL # OF BATHS		GRAND TOTAL RENT		GRAND TOTAL PRO FORMA
4	1	4		$6,369		$6,900

Let’s Discuss This Property

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