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1123 Ohio Ave 3 Unit Apartment Building Offered at $1,490,000 at a 5.15% Cap Rate Long Beach, CA 90804
Executive Summary
Perfectly located huge 1972 built Eastside Triplex with 100% large two story 3 bed, 1.5 bath townhome style units. Exterior refresh just completed plus all three units renovated since 2023 with new floors, finishes, and in-unit laundry. Huge parking lot in rear with parking for 7 cars. Excellent metrics at 12.6X GRM on actuals and a 5.2% in place cap rate with upside to an 11.7X GRM and cap rate of 5.7% at market rents. Quiet residential location in the Zaferia neighborhood only 2 blocks from the design district. One block from the historic Rose Park neighborhood. Just minutes from Cal State Long Beach, Traffic Circle retail, and the beach.
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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,490,000 | Property Type | Multifamily |
| Price Per Unit | $496,667 | Building Size | 3,720 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.15% | No. Stories | 2 |
| Gross Rent Multiplier | 12.62 | Year Built | 1972 |
| No. Units | 3 |
| Price | $1,490,000 |
| Price Per Unit | $496,667 |
| Sale Type | Investment |
| Cap Rate | 5.15% |
| Gross Rent Multiplier | 12.62 |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 3,720 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 3 | $3,183 | 1,240 |
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