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5220 Pacific Ave, Long Beach
- Great 4-plex in North Long Beach tucked on a tree lined street with 3,609 rentable square feet on a 7,534 square foot lot
- Excellent unit mix with a front stand-alone 2 bed/1 bath house featuring new flooring, new electrical, a new roof, and laundry hookups in the kitchen plus two back town house style units (2 bed/1.5 bath and 2 bed/2 bath) and a 4th apartment (2 bed/1 bath)
- Strong in-place income with an 11.9GRM and a 4.5% cap rate with a 19.4% upside to rents and a market cap rate of 5.9%
- 4 separate garages for off-site parking or ADU potential
Property Details
- Units: 4
- Gross Rent Multiplier: 11.89
- Cap Rate: 4.5
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$1,195,000
Annual Income
$100,500
Annual NOI
$53,976
Annual Expense
$41,499
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 2 | 1 | $2,350 | $2,350 | $2,550 | $2,550 |
| 1 | 2 | 1 | $1,815 | $1,815 | $2,300 | $2,300 |
| 1 | 2 | 2 | $2,390 | $2,390 | $2,400 | $2,400 |
| 1 | 2 | 1 | $1,820 | $1,820 | $2,400 | $2,400 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 8 | 5 | $8,375 | $9,650 |
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