728 Lime Ave, Long Beach

Huge 6 unit campus property with three large units in front, Craftsman bungalow in the middle, and two brand new 2025 construction ADUs in the rear totaling 5707 rentable square feet on a 7500 square foot lot. Great unit mix averaging 950 square feet with one 5 bed, 2 bath unit, four 2 bed, 1 bath units, and one 1 bed, 1 bath unit. Aggressively priced at $262/square foot, 9.8X GRM and 6.2% cap rate on actual rents plus an 8% upside to 9X GRM and 6.9% cap rate on market rents. Brand new electrical main panel. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%’s and a 6.2% cap rate on actual rents.

Property Details

Units: 6
Gross Rent Multiplier: 9.80
Cap Rate: 6.2

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Price

$1,495,000

Annual Income

$152,016

Annual NOI

$92,241

Annual Expense

$52,774

Rental Cost Details

# OF UNITS	# OF BEDROOMS	# OF BATHS	ACTUAL RENT	TOTAL RENT	PRO FORMA	TOTAL PRO FORMA
1	5	2	$3,350	$3,350	$4,000	$4,000
1	2	1	$1,795	$1,795	$1,800	$1,800
1	1	1	$1,499	$1,499	$1,500	$1,500
1	2	1	$2,445	$2,445	$2,500	$2,500
1	2	1	$1,925	$1,925	$1,925	$1,925
1	2	1	$1,654	$1,654	$1,925	$1,925
TOTAL # OF UNITS	TOTAL # OF BEDROOMS	TOTAL # OF BATHS		GRAND TOTAL RENT		GRAND TOTAL PRO FORMA
6	14	7		$12,668		$13,650

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