Sold
454 Rose Ave, Long Beach
- Large 4-Unit apartment building right off the 4th Street Corridor
- Huge upside in rents
- Market GRM 14.3 and Market Cap Rate of 3.9%
- Potential to convert to 2 bedroom units
- Not subject to City of LA soft story retrofit program
Property Details
- Units: 4
- Gross Rent Multiplier: 21.1
- Cap Rate: 2.0
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Contact Listing AgentPrice
$1,100,000
Annual Income
$52,140
Annual NOI
$22,454
Annual Expense
$27,079
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 1 | 1 | $1,195 | $1,195 | $1,595 | $1,595 |
| 1 | 1 | 1 | $1,000 | $1,000 | $1,595 | $1,595 |
| 1 | 1 | 1 | $1,125 | $1,125 | $1,595 | $1,595 |
| 1 | 1 | 1 | $1,025 | $1,025 | $1,595 | $1,595 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 4 | 4 | $4,345 | $6,380 |
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