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Ocean Breeze Terrace 125 16th St 20 Unit Apartment Building $14,200,000 ($710,000/Unit) 4.21% Cap Rate Huntington Beach, CA 92648
INVESTMENT HIGHLIGHTS
- Located in the 100 Block of Downtown Huntington Beach
- Currently, the Largest Apartment Listing in Huntington Beach
- In-Suite Laundry, Ocean Views (Select Units), Private Patios & Balconies (Select Units)
- Approx. $1,850,000 in Recent Capital Improvements
- One-, Two-, & Three-Bedroom Floorplans
EXECUTIVE SUMMARY
Located in the 100 block of Huntington Beach, Ocean Breeze Terrace is a multifamily investment opportunity consisting of 20 units. Ownership has spent approx. $1,850,000 in capital improvements including electrical upgrades, plumbing upgrades, new windows, roof maintenance and updating all 18 units. The attractive unit mix includes studio, one-, two- & three-bedroom floorplans.
PROPERTY FACTS
| Price | $14,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $710,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 4.21% | Building Size | 16,839 SF |
| Gross Rent Multiplier | 15.77 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment |
| Price | $14,200,000 |
| Price Per Unit | $710,000 |
| Sale Type | Investment |
| Cap Rate | 4.21% |
| Gross Rent Multiplier | 15.77 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 16,839 SF |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.13/1,000 SF |
AMENITIES
SITE AMENITIES
- Courtyard
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $2,695 | 360 |
| 2+1 | 12 | $3,703 | 670 - 850 |
| 1+1 | 2 | $3,008 | 650 |
| 2+2 | 3 | $3,928 | 900 |
| 3+2 | 2 | $4,645 | 1,230 |
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Walk Score®
Very Walkable (74)
Bike Score®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 023-167-03 | Improvements Assessment | $786,009 |
| Land Assessment | $8,036,991 | Total Assessment | $8,823,000 |
PROPERTY TAXES
Parcel Number
023-167-03
Land Assessment
$8,036,991
Improvements Assessment
$786,009
Total Assessment
$8,823,000
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Ocean Breeze Terrace | 125 16th St
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