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1001-1015 E 20th St Long Beach 1001 E 20th St 10 Unit Apartment Building $2,450,000 ($245,000/Unit) 7.33% Cap Rate Long Beach, CA 90806
INVESTMENT HIGHLIGHTS
- Excellent Unit Mix - (1) 3Bed+2Bath | (7) 2Bed+1Bath | (1) 1Bed+1Bath
- Current CAP: 7.33% | Market CAP: 9.27%
- Gated Parking for Tenants with Possible ADU conversion of an existing structure
- Current GRM: 9.31 | Market GRM: 7.82
- Building: 9,641 sqft | Lot Size: 10,991 sqft
- Separately metered for Gas & Electricity
EXECUTIVE SUMMARY
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 1001–1015 E 20th Street, this asset offers a highly desirable mix of spacious 1, 2, and 3 bedroom units totaling approximately 9,641 rentable square feet on a 10,991 SF lot.This building has the lowest price per foot metric and the highest CAP rate metric on the market currently!! The building delivers immediate day-one cash flow with a current CAP rate of 7.33%, while significant upside remains through rental increases and a potential ADU addition via an existing structure. Pro forma projections push returns to a 9.27% CAP and over 21% cash-on-cash return. Additional features include gated parking lots for tenants and separate gas & electric meters, helping keep operating costs low. Property to be sold As-Is. Inquire for further details.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $245,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 7.33% | Building Size | 4,675 SF |
| Gross Rent Multiplier | 9.31 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1924 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LBR1N - restricted Density Multiple Dwelling | ||
| Price | $2,450,000 |
| Price Per Unit | $245,000 |
| Sale Type | Investment |
| Cap Rate | 7.33% |
| Gross Rent Multiplier | 9.31 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,675 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | LBR1N - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,550 | - |
| 2+1 | 8 | $2,765 | - |
1 1
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 7210-021-012 | Improvements Assessment | $366,560 (2025) |
| Land Assessment | $186,280 (2025) | Total Assessment | $552,840 (2025) |
PROPERTY TAXES
Parcel Number
7210-021-012
Land Assessment
$186,280 (2025)
Improvements Assessment
$366,560 (2025)
Total Assessment
$552,840 (2025)
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1001-1015 E 20th St Long Beach | 1001 E 20th St
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