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1035-1035 1/2 Orange Ave 6 Unit Apartment Building $1,475,000 ($245,833/Unit) 6.60% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Excellent Rental Location
- Upgraded Electrical Panel
- Attractive In-Place Cash Flow (5.90% Cash-on-Cash)
- Partial Copper Plumbing
- New Windows (Selected Units)
EXECUTIVE SUMMARY
1035 Orange Avenue is a 6-unit stabilized multifamily property in City of Long Beach featuring a strong unit mix of 5 two-bedroom, one-bath units and 1 three-bedroom, one-bath cottage-style unit. It boasts a Walkscore of 90, the property is located in an excellent rental location. Key highlights include partial copper plumbing, 50% renovated units, on-site parking, two cottage-style units, new windows in select units, recently painted exterior, roofs in good condition, upgraded electrical panels, and additional income from laundry and pets. Tenants enjoy local boutique shopping, dining, and restaurants.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$145,058
|
$35.44
|
| Other Income |
$4,800
|
$1.17
|
| Vacancy Loss |
$7,253
|
$1.77
|
| Effective Gross Income |
$142,605
|
$34.84
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$45,803
|
$11.19
|
| Net Operating Income |
$96,802
|
$23.65
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $145,058 |
| Annual Per SF | $35.44 |
| Other Income | |
|---|---|
| Annual | $4,800 |
| Annual Per SF | $1.17 |
| Vacancy Loss | |
|---|---|
| Annual | $7,253 |
| Annual Per SF | $1.77 |
| Effective Gross Income | |
|---|---|
| Annual | $142,605 |
| Annual Per SF | $34.84 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $45,803 |
| Annual Per SF | $11.19 |
| Net Operating Income | |
|---|---|
| Annual | $96,802 |
| Annual Per SF | $23.65 |
PROPERTY FACTS
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $245,833 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,093 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.17 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1923 |
| Property Type | Multifamily | Parking Ratio | 0.98/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R2N, Long Beach - Residential Neighborhood | ||
| Price | $1,475,000 |
| Price Per Unit | $245,833 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| Gross Rent Multiplier | 10.17 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,093 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
| Parking Ratio | 0.98/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2N, Long Beach - Residential Neighborhood |
AMENITIES
UNIT AMENITIES
- Ceiling Fans
- Oven
- Range
- Tub/Shower
- Family Room
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 7267-006-018 | Improvements Assessment | $616,985 |
| Land Assessment | $1,136,553 | Total Assessment | $1,753,538 |
PROPERTY TAXES
Parcel Number
7267-006-018
Land Assessment
$1,136,553
Improvements Assessment
$616,985
Total Assessment
$1,753,538
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1035-1035 1/2 Orange Ave
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