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8.04% CAP Rate | 9.95% Cash on Cash Return! 1113 Pacific Ave 5 Unit Apartment Building $1,899,000 ($379,800/Unit) 8.04% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- 8.04% CAP | 9.95% Cash on Cash Return!!!
- Private, garden-style layout with secure gated entry
- Extensively renovated with over $500,000 in recent capital improvements
- All 3-Bedroom Units
- No local rent control: subject only to AB 1482
- Can be sold with the Adjacent 2 Unit Parcel
EXECUTIVE SUMMARY
Turnkey Five (5) Unit Asset featuring Four (4), large 3-Bedroom / 1-Bath units (1,093 square feet each), and a 3-Bedroom / 1 Bath House. The property has been extensively renovated with over $500,000+ spent in recent capital improvements, offering investors immediate cash flow and minimal deferred maintenance. With a current cap rate of 7.13%, this garden-style property includes a secure gated entry, Four (4) Single-Car Garages, and one private uncovered driveway space.
Beyond Cash Flow, this is situated in an Opportunity Zone with PD-30 zoning, allowing for unlimited high density residential potential.
***Can be sold with the adjacent 2 Unit Parcel that has a large open lot.
*** Additionally, the area is not subject to local rent control other than AB 1482.
Located less than one mile from the beach and just minutes from Downtown Long Beach, the asset benefits from strong tenant demand, coastal appeal, and excellent connectivity to surrounding amenities.
Beyond Cash Flow, this is situated in an Opportunity Zone with PD-30 zoning, allowing for unlimited high density residential potential.
***Can be sold with the adjacent 2 Unit Parcel that has a large open lot.
*** Additionally, the area is not subject to local rent control other than AB 1482.
Located less than one mile from the beach and just minutes from Downtown Long Beach, the asset benefits from strong tenant demand, coastal appeal, and excellent connectivity to surrounding amenities.
FINANCIAL SUMMARY (ACTUAL - 2025) 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 - 2025) 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 | $1,899,000 | Apartment Style | Low-Rise |
| Price Per Unit | $379,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 8.04% | Building Size | 7,093 SF |
| Gross Rent Multiplier | 10.14 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1907/2023 |
| Property Type | Multifamily | Parking Ratio | 0.7/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBCO - PD-30 HIGH DENISTY No Parking Requirements Up to 80 Feet Unlimited Density (as long as the project falls within the City's Parameters) | ||
| Price | $1,899,000 |
| Price Per Unit | $379,800 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| Gross Rent Multiplier | 10.14 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,093 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1907/2023 |
| Parking Ratio | 0.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBCO - PD-30 HIGH DENISTY No Parking Requirements Up to 80 Feet Unlimited Density (as long as the project falls within the City's Parameters) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 7272-005-011 | Improvements Assessment | $572,220 |
| Land Assessment | $884,340 | Total Assessment | $1,456,560 |
PROPERTY TAXES
Parcel Number
7272-005-011
Land Assessment
$884,340
Improvements Assessment
$572,220
Total Assessment
$1,456,560
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8.04% CAP Rate | 9.95% Cash on Cash Return! | 1113 Pacific Ave
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