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10355 Long Beach Blvd 30 Unit Apartment Building $4,430,000 ($147,667/Unit) 6.16% Cap Rate Lynwood, CA 90262
INVESTMENT HIGHLIGHTS
- Corner Location with High Visibility in an Excellent Rental Market
- Priced to Sell at $147,667/Unit
- Massive Amount of Rental Upside
- New Roof, Electrical Panels & Water Heaters
- Mix of Studio, 1, & 2-Bedroom Units
- Lynwood Address in a South Gate Neighborhood
EXECUTIVE SUMMARY
Presenting 10355 Long Beach Boulevard, a rare 30-unit multifamily opportunity with excellent visibility on a corner location of a high-traffic thoroughfare. The property has a Lynwood address but lies in a South Gate neighborhood. The property offers a mix of studio, 1 and 2-bedroom units that perfectly cater to the surrounding tenant base. The property is master-metered for all utilities. The roof, electrical panels and water heaters have all recently been replaced new. There is ample parking (31 spaces), laundry facilities and gated access.
Lynwood is an excellent rental market for apartment owners, with the Lynwood/South Gate rental market having extremely low historical vacancy rates and no Lynwood rent control. Given the property’s ideal central location (30 minutes or less median travel time to work) and the city’s renter profile being over 50% of the population, 10355 Long Beach Boulevard benefits from rapidly rising rents as demand far outpaces supply. There is substantial upside to bring the rents up to market levels.
Please contact listing broker for an Offering Memorandum.
Lynwood is an excellent rental market for apartment owners, with the Lynwood/South Gate rental market having extremely low historical vacancy rates and no Lynwood rent control. Given the property’s ideal central location (30 minutes or less median travel time to work) and the city’s renter profile being over 50% of the population, 10355 Long Beach Boulevard benefits from rapidly rising rents as demand far outpaces supply. There is substantial upside to bring the rents up to market levels.
Please contact listing broker for an Offering Memorandum.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$455,436
|
$15.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$13,663
|
$0.46
|
| Effective Gross Income |
$441,773
|
$14.73
|
| Taxes |
$55,375
|
$1.85
|
| Operating Expenses |
$113,499
|
$3.78
|
| Total Expenses |
$168,874
|
$5.63
|
| Net Operating Income |
$272,899
|
$9.10
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $455,436 |
| Annual Per SF | $15.18 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $13,663 |
| Annual Per SF | $0.46 |
| Effective Gross Income | |
|---|---|
| Annual | $441,773 |
| Annual Per SF | $14.73 |
| Taxes | |
|---|---|
| Annual | $55,375 |
| Annual Per SF | $1.85 |
| Operating Expenses | |
|---|---|
| Annual | $113,499 |
| Annual Per SF | $3.78 |
| Total Expenses | |
|---|---|
| Annual | $168,874 |
| Annual Per SF | $5.63 |
| Net Operating Income | |
|---|---|
| Annual | $272,899 |
| Annual Per SF | $9.10 |
PROPERTY FACTS In Escrow
| Price | $4,430,000 | Building Class | C |
| Price Per Unit | $147,667 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 6.16% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.73 | No. Stories | 3 |
| No. Units | 30 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 2.08/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LYC3* | ||
| Price | $4,430,000 |
| Price Per Unit | $147,667 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 9.73 |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 2.08/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LYC3* |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
SITE AMENITIES
- 24 Hour Access
- Recycling
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 21 | $1,220 | - |
| 1+1 | 8 | $1,221 | - |
| 2+2 | 1 | $2,000 | - |
1 1
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 6207-024-024 | Total Assessment | $3,154,849 (2025) |
| Land Assessment | $1,832,818 (2025) | Annual Taxes | $55,375 ($1.85/SF) |
| Improvements Assessment | $1,322,031 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
6207-024-024
Land Assessment
$1,832,818 (2025)
Improvements Assessment
$1,322,031 (2025)
Total Assessment
$3,154,849 (2025)
Annual Taxes
$55,375 ($1.85/SF)
Tax Year
2024
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10355 Long Beach Blvd
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