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500 Saint Louis Ave, Long Beach

  • Great unit mix of SIX 1 Bed/1 Bath Units plus 3 large garages
  • 4 out of 6 units recently upgraded
  • Potential to add 2 ADUs above garages
  • Stabilized property with great cash flow
  • Only half a block to Retro Row
  • Only a few blocks from major Long Beach developments and Alamitos Beach
  • Listed at solid 13.96 GRM, 4.3% Cap Rate

Property Details

  • Units: 6
  • Gross Rent Multiplier: 13.96
  • Cap Rate: 4.3%
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Price

$1,500,000

Annual Income

$102,231

Annual NOI

$65,140

Annual Expense

$37,091

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
111$1,425$1,425$1,550$1,550
111$1,495$1,495$1,550$1,550
111$1,475$1,475$1,550$1,550
111$1,470$1,470$1,550$1,550
111$1,395$1,395$1,550$1,550
111$1,395$1,395$1,550$1,550
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
666$8,655$9,300

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