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2216 W Wardlow Rd 7 Unit Apartment Building $1,519,000 ($217,000/Unit) 6.70% Cap Rate Long Beach, CA 90810
INVESTMENT HIGHLIGHTS
- Excellent Unit Mix for the area - all 2+1's.
- EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
- Put as little as 25% down for qualified Buyers.
- PRICED TO SELL - 9.5 GRM on current rents with upside to 9 GRM and 7.3% CAP.
- Potential ADU Opportunity w/4 garages in front - Buyer to verify.
- EARN OVER A 9% CASH ON CASH RETURN AGAINST IN PLACE RENTS.
EXECUTIVE SUMMARY
PRICED TO SELL. 9.5 GRM on current rents with upside to 9 GRM AND 7.3% CAP. 7 units in Long Beach NOT subject to local rent control - AB 1482 Only (5% + CPI max increase). All units are 2+1's.
Escape Los Angeles Rent Control (RSO) and invest in a more landlord-friendly environment - welcome to Long Beach. Stop dealing with difficult tenants and a City that wants to continue to stifle your annual rent increases. Instead, own a building located blocks from the Ocean.
4 garages in the front - potential ADU opportunity - Buyer to verify. Property is professionally managed and well-maintained. Laminate flooring, updated kitchens. Onsite laundry as well.
EARN OVER A 9% CASH ON CASH RETURN AGAINST IN PLACE RENTS.
Qualified Buyers can put down as little as 25%.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Escape Los Angeles Rent Control (RSO) and invest in a more landlord-friendly environment - welcome to Long Beach. Stop dealing with difficult tenants and a City that wants to continue to stifle your annual rent increases. Instead, own a building located blocks from the Ocean.
4 garages in the front - potential ADU opportunity - Buyer to verify. Property is professionally managed and well-maintained. Laminate flooring, updated kitchens. Onsite laundry as well.
EARN OVER A 9% CASH ON CASH RETURN AGAINST IN PLACE RENTS.
Qualified Buyers can put down as little as 25%.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$158,000
|
$29.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$158,000
|
$29.91
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $158,000 |
| Annual Per SF | $29.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $158,000 |
| Annual Per SF | $29.91 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,519,000 | Property Subtype | Apartment |
| Price Per Unit | $217,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.70% | Building Size | 5,283 SF |
| Gross Rent Multiplier | 9.5 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Zoning | LRBR1N | ||
| Price | $1,519,000 |
| Price Per Unit | $217,000 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 5,283 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Zoning | LRBR1N |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | $1,895 | - |
1 1
PROPERTY TAXES
| Parcel Number | 7317-003-004 | Improvements Assessment | $794,998 (2025) |
| Land Assessment | $812,407 (2025) | Total Assessment | $1,607,405 (2025) |
PROPERTY TAXES
Parcel Number
7317-003-004
Land Assessment
$812,407 (2025)
Improvements Assessment
$794,998 (2025)
Total Assessment
$1,607,405 (2025)
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2216 W Wardlow Rd
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