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1377 Warren Ave 11 Unit Apartment Building $1,629,000 ($148,091/Unit) 7% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- PRICED TO SELL. 8.8 GRM AND 7.0% CAP WITH UPSIDE TO A 8.1 GRM AND 7.9% CAP.
- Earn over a 12% Cash on Cash Return against in place rents.
- Modern electrical updated in the last 3 years.
- EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
- All unit interiors updated in 2018.
- Qualified Buyers can put down as little as 25% on a 5-year loan, fixed at 5.1% Interest Only.
EXECUTIVE SUMMARY
PRICED TO SELL. 8.8 GRM AND 7.0% CAP WITH UPSIDE TO A 8.1 GRM AND 7.9% CAP.
11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI. The property is professionally managed and well maintained. Onsite laundry room. All unit interiors were updated in 2018.
Property is 2 structures total - one main building and 2 units in the rear building. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs.
Electrical has been updated in the past 3 years - Main Panel is 200 AMPS - Buyer to verify.
EARN OVER A 12% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Qualified Buyers can put down as little as 25% on a new loan fixed at 5.1% for 5 years, Interest Only.
Located right across from MacArthur park which is undergoing a $10.5MM overhaul.
https://www.longbeach.gov/pw/projects/macarthur-park-rehabilitation/
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI. The property is professionally managed and well maintained. Onsite laundry room. All unit interiors were updated in 2018.
Property is 2 structures total - one main building and 2 units in the rear building. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs.
Electrical has been updated in the past 3 years - Main Panel is 200 AMPS - Buyer to verify.
EARN OVER A 12% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Qualified Buyers can put down as little as 25% on a new loan fixed at 5.1% for 5 years, Interest Only.
Located right across from MacArthur park which is undergoing a $10.5MM overhaul.
https://www.longbeach.gov/pw/projects/macarthur-park-rehabilitation/
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$186,000
|
$37.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$186,000
|
$37.24
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $37.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $37.24 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,629,000 | Apartment Style | Low-Rise |
| Price Per Unit | $148,091 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 7% | Building Size | 4,994 SF |
| Gross Rent Multiplier | 8.7 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1922/2018 |
| Property Subtype | Apartment | ||
| Zoning | LBR2N | ||
| Price | $1,629,000 |
| Price Per Unit | $148,091 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 8.7 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,994 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1922/2018 |
| Zoning | LBR2N |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | - |
| 1+1 | 3 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
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1377 Warren Ave
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