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Fountain Creek Apartments 3710-3750 E Fountain St 50 Unit Apartment Building $14,750,000 ($295,000/Unit) 5.19% Cap Rate Long Beach, CA 90804
Investment Highlights
- First Time on the Market in Over 30 Years
- Great Mix of Primarily 1 & 2-Bedroom Units — Over Half Townhome-Style
- Individually Metered for Gas, Electric & Individual Water Heaters
- East Side Long Beach Location - Walking Distance to Traffic Circle
- 50% of Units Already Renovated
- 60 Secured Parking Spaces with Automatic Gate Entry
Executive Summary
Triqor Group is proud to present 3710, 3734 & 3750 Fountain Street, a rare 50-unit, three-building multifamily property in one of Long Beach’s most sought-after rental submarkets. Built in 1986, the portfolio features a highly desirable mix of primarily one- and two-bedroom units, with over half configured as townhome-style layouts, a premium product type that commands above-market rents and drives strong tenant retention. All units are individually metered for gas and electric with individual water heaters, and owner expenses are limited to water and trash only. The portfolio is offered at a 5.2% cap rate with a clear path to 6.9% as the remaining units are renovated and brought to market rents. With approximately half of all units already renovated and a proven rent premium established, an incoming investor steps into a de-risked value-add opportunity with a clear template, manageable execution, and meaningful upside already in motion. The property’s amenity package further supports premium positioning and tenant retention, highlighted by a gated community with automatic entry, a Jacuzzi/spa, security cameras, 60 secured parking spaces, and an on-site laundry
facility, an above-average offering for this price point in the submarket.
facility, an above-average offering for this price point in the submarket.
Property Facts
| Price | $14,750,000 | Apartment Style | Garden |
| Price Per Unit | $295,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.86 AC |
| Cap Rate | 5.19% | Building Size | 35,336 SF |
| Gross Rent Multiplier | 11.96 | Average Occupancy | 90% |
| No. Units | 50 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | ||
| Zoning | RR2N, Long Beach | ||
| Price | $14,750,000 |
| Price Per Unit | $295,000 |
| Sale Type | Investment |
| Cap Rate | 5.19% |
| Gross Rent Multiplier | 11.96 |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.86 AC |
| Building Size | 35,336 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1986 |
| Zoning | RR2N, Long Beach |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,780 | 500 |
| 1+1 | 25 | $1,877 | 550 - 700 |
| 2+2 | 22 | $2,256 | 850 - 900 |
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Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,765,869 | |
| Land Assessment | $1,416,737 | Total Assessment | $3,182,606 |
Property Taxes
Parcel Numbers
Land Assessment
$1,416,737
Improvements Assessment
$1,765,869
Total Assessment
$3,182,606
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Fountain Creek Apartments | 3710-3750 E Fountain St
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