4446 Linden Ave, Long Beach

Rare 4 unit property in the best part of Bixby Knolls on the market for the first time in 40 years. 100% 2 bedroom 1 bath units with over 800 square feet each. Huge 40% upside in actual rents to a market GRM of 10.7X and a 6.0% cap rate. Huge lot of nearly 8000 square feet plus a separate structure with two 2 car garages and a laundry room for extra income. Separately metered for gas and electric with individual water heaters for each unit. Incredible location in one of the best neighborhoods of Bixby Knolls. Only 2 blocks from Virginia Country Club, 2 blocks from Scherer Park. Located on a quiet residential side street, but a quick walk to retail and restaurants on Atlantic.

Property Details

Units: 4
Gross Rent Multiplier: 15.25
Cap Rate: 3.5

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Price

$1,300,000

Annual Income

$85,260

Annual NOI

$45,152

Annual Expense

$35,845

Rental Cost Details

# OF UNITS	# OF BEDROOMS	# OF BATHS	ACTUAL RENT	TOTAL RENT	PRO FORMA	TOTAL PRO FORMA
1	2	1	$1,405	$1,405	$2,400	$2,400
1	2	1	$2,400	$2,400	$2,400	$2,400
1	2	1	$1,900	$1,900	$2,400	$2,400
1	2	1	$1,400	$1,400	$2,400	$2,400
TOTAL # OF UNITS	TOTAL # OF BEDROOMS	TOTAL # OF BATHS		GRAND TOTAL RENT		GRAND TOTAL PRO FORMA
4	8	4		$7,105		$9,600

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