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1827 E 4th St 19 Unit Apartment Building $7,780,000 ($409,474/Unit) 5% Cap Rate Long Beach, CA 90802
Investment Highlights
- $2.37M tax benefit with accelerated depreciation via cost segregation is a massive financial incentive.
- Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach
- Essentially new construction: 17 re-built units (2023) and 2 ground-up units (2025).
- Low ownership overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
- $512/SF price point is below replacement cost
- 100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Executive Summary
Essentially New Construction: 17 re-built units (2023) and 2 ground-up units (2025).
$2.37M Tax Benefit: The accelerated depreciation via cost segregation is a massive financial incentive.
100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Turn-Key Operations: Fully leased with a high-credit tenant base, providing immediate stable cash flow.
Premium Unit Features: In-unit laundry and luxury quartz/designer finishes command top-of-market rents.
Strong Financials: A 5% Cap Rate at a $512/SF price point is below replacement cost.
Appreciation Catalyst: Significant upside potential tied to the 2028 Olympics and the city's $9 billion economic output.
Low Ownership Overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach.
Prime Retro Row Location: Steps from the Pacific Ocean and Bluff Park in a highly coveted walkable neighborhood.
$2.37M Tax Benefit: The accelerated depreciation via cost segregation is a massive financial incentive.
100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Turn-Key Operations: Fully leased with a high-credit tenant base, providing immediate stable cash flow.
Premium Unit Features: In-unit laundry and luxury quartz/designer finishes command top-of-market rents.
Strong Financials: A 5% Cap Rate at a $512/SF price point is below replacement cost.
Appreciation Catalyst: Significant upside potential tied to the 2028 Olympics and the city's $9 billion economic output.
Low Ownership Overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach.
Prime Retro Row Location: Steps from the Pacific Ocean and Bluff Park in a highly coveted walkable neighborhood.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$543,858
|
$42.97
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$21,754
|
$1.72
|
| Effective Gross Income |
$522,104
|
$41.25
|
| Taxes |
$96,488
|
$7.62
|
| Operating Expenses |
$38,745
|
$3.06
|
| Total Expenses |
$135,233
|
$10.68
|
| Net Operating Income |
$386,871
|
$30.56
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $543,858 |
| Annual Per SF | $42.97 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $21,754 |
| Annual Per SF | $1.72 |
| Effective Gross Income | |
|---|---|
| Annual | $522,104 |
| Annual Per SF | $41.25 |
| Taxes | |
|---|---|
| Annual | $96,488 |
| Annual Per SF | $7.62 |
| Operating Expenses | |
|---|---|
| Annual | $38,745 |
| Annual Per SF | $3.06 |
| Total Expenses | |
|---|---|
| Annual | $135,233 |
| Annual Per SF | $10.68 |
| Net Operating Income | |
|---|---|
| Annual | $386,871 |
| Annual Per SF | $30.56 |
Property Facts
| Price | $7,780,000 | Apartment Style | Low-Rise |
| Price Per Unit | $409,474 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5% | Building Size | 15,168 SF |
| Gross Rent Multiplier | 14.67 | Average Occupancy | 100% |
| No. Units | 19 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 2023/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Zoning | CNR, Long Beach | ||
| Price | $7,780,000 |
| Price Per Unit | $409,474 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 14.67 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 15,168 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 2023/2025 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | CNR, Long Beach |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Breakfast Nook
- Den
- Dining Room
- Double Pane Windows
- Family Room
- Freezer
- Porch
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | $2,093 | 524 |
| 1+1 | 4 | $2,550 | 875 |
| 2+1 | 3 | $2,993 | 850 - 1,150 |
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (92)
Property Taxes
| Parcel Number | 7266-026-036 | Total Assessment | $4,122,793 (2025) |
| Land Assessment | $2,122,416 (2025) | Annual Taxes | $96,488 ($6.36/SF) |
| Improvements Assessment | $2,000,377 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
7266-026-036
Land Assessment
$2,122,416 (2025)
Improvements Assessment
$2,000,377 (2025)
Total Assessment
$4,122,793 (2025)
Annual Taxes
$96,488 ($6.36/SF)
Tax Year
2026
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1827 E 4th St
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