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1420 Walnut Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Delivered with Approved Plans for Two (2) Studio ADUs
- On-Site Laundry & Storage Provide Additional Income Opportunity
- 5.01% Current Cap Rate
- Four (4) Units Renovated with Designer Finishes
- Multiple Capital Improvements Completed in Past 5 Years (New Windows, Updated Electrical, etc.)
- With construction of the ADUs the new owner can stabilize the property at a 7.20% cap rate and 10.08x gross
Property Facts
| No. Units | 8 | Lot Size | 0.15 AC |
| Property Type | Multifamily | Building Size | 7,029 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.57/1,000 SF |
| Zoning | LBR2N | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,029 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | LBR2N |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,595 | 600 |
| 2+1 | 5 | $1,872 | 800 |
| 3+2 | 2 | $2,281 | 1,000 |
Property Taxes
| Parcel Number | 7261-014-025 | Improvements Assessment | $1,761,605 |
| Land Assessment | $848,966 | Total Assessment | $2,610,571 |
Property Taxes
Parcel Number
7261-014-025
Land Assessment
$848,966
Improvements Assessment
$1,761,605
Total Assessment
$2,610,571
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