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811-817 Rose Ave, Long Beach

  • Rare property of 16 units on 2 parcels separated by an entry courtyard
  • Perfect unit mix of 100% 2 bed/1 bath apartments
  • All but 2 units recently upgraded including flooring, kitchen cabinets, quartz counters, and new bathrooms
  • All windows recently replaced
  • Strong actual income at 13.47X gross plus an additional 13% upside in income to a market GRM of 11.93
  • 2 garages plus 15 off-street parking spaces
  • Being sold either separately or as a portfolio with 911-919 Rose Ave

Property Details

  • Units: 16
  • Gross Rent Multiplier: 14.18
  • Cap Rate: 4.3%

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Price

$5,000,000

Annual Income

$339,060

Annual NOI

$214,553

Annual Expense

$121,114

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
1621$1,765$28,240$2,000$32,000
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
1621$28,240$32,000

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