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1056 Walnut Ave
Long Beach, CA 90813
4.56% Cap on Current Income - Large Units · Multifamily Property For Sale
·
9 Units
Investment Highlights
- Good Current Income with Rental Upside -The property is performing at a 4.56% cap rate on current operations with upside to a 5.59% pro forma cap
- Attractive New Debt Available - Historically low interest rates allow strong returns day 1.
- Gentrifying Long Beach Location-Located East of Alamitos Ave & South of Anaheim St, about 1 mile from Alamitos Beach & ~ 2.5 miles from Belmont Shore
- Capital Improvements & Renovated Units - The building features new paint, new windows and four units have been renovated.
- Desirable Unit Mix - The building’s units comprise of (1) 1 bed / 1 bath, (6) 2 beds / 1 bath and (2) 3 bed / 1 bath.
Property Facts
| No. Units | 9 | Lot Size | 0.14 AC |
| Property Type | Multifamily | Building Size | 6,876 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 0.72/1,000 SF |
| Zoning | R4, Long Beach - Medium Density Multiple Residence | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,876 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 0.72/1,000 SF |
| Zoning | R4, Long Beach - Medium Density Multiple Residence |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,345 | - |
| 2+1 | 6 | $1,628 | - |
| 3+1 | 2 | $1,895 | - |
Property Taxes
| Parcel Number | 7267-011-001 | Improvements Assessment | $928,557 |
| Land Assessment | $1,724,463 | Total Assessment | $2,653,020 |
Property Taxes
Parcel Number
7267-011-001
Land Assessment
$1,724,463
Improvements Assessment
$928,557
Total Assessment
$2,653,020
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