Sold
516 W 10th St, Long Beach
- Well-located 4 unit property just outside of Downtown Long Beach
- Major value add potential with a 20% upside on actual income
- Laundry hook-ups in units
- Separately metered for gas and electric
- Strong GRM on market rents of 13.2 GRM and 4.5% Cap Rate
- Attractive 30-year fixed residential financing available
- Dense rental market with low vacancy
Property Details
- Units: 4
- Gross Rent Multiplier: 15.63
- Cap Rate: 3.6
Download Offering Memorandum
Contact Listing AgentPrice
$1,125,000
Annual Income
$71,988
Annual NOI
$40,039
Annual Expense
$28,349
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $1,600 | $1,600 | $2,000 | $2,000 |
| 1 | 2 | 1 | $1,600 | $1,600 | $2,000 | $2,000 |
| 1 | 1 | 1 | $1,400 | $1,400 | $1,550 | $1,550 |
| 1 | 1 | 1 | $1,400 | $1,400 | $1,550 | $1,550 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 6 | 4 | $6,000 | $7,100 |
Let’s Discuss This Property
Please fill out the form below and we’ll get back to you as soon as we can.
