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Obispo Ranch 430 Obispo Ave 21 Unit Apartment Building $8,200,000 ($390,476/Unit) 4.55% Cap Rate Long Beach, CA 90814
INVESTMENT HIGHLIGHTS
- Assumable Loan at 3% with 75% LTV unitl May 1, 2027
- Oversized Units Averaging 881 SF
- Community Pool and Sundeck
- 19 of 22 Units Fully Remodeled with Designer Finishes
- Ample Parking with 21 Spaces
EXECUTIVE SUMMARY
Rancho Obispo is an apartment asset located at 434 Obispo Avenue in Long Beach. California. The property features 21-units plus one non-conforming unit.
Attractive assumable financing is available at 3.0% with 75% loan to value until May 1, 2027.
The property consists of (15) 1BD/1BA units, (6) 2BD/2BA units, and (1) studio unit. All units are bright and spacious, with an average size of 881 square feet. Nineteen of
the 22 units are fully remodeled with designer finishes.
Additionally, the property offers a pool and sundeck and 21 secured parking spaces, adding convenience and value for residents.
Situated between Bluff Heights and Belmont Heights, Rancho Obispo offers a prime coastal location that is consistently ranked among the top neighborhoods for
young professionals. Known for its historic charm, tree-lined streets, and walkability, the area provides convenient access to the beach, Retro Row, and a wide selection of restaurants, bars, coffee shops, and parks.
Note: This property may be sold together with Coronado House, the adjacent 27-unit property at 425 Coronado Avenue.
Attractive assumable financing is available at 3.0% with 75% loan to value until May 1, 2027.
The property consists of (15) 1BD/1BA units, (6) 2BD/2BA units, and (1) studio unit. All units are bright and spacious, with an average size of 881 square feet. Nineteen of
the 22 units are fully remodeled with designer finishes.
Additionally, the property offers a pool and sundeck and 21 secured parking spaces, adding convenience and value for residents.
Situated between Bluff Heights and Belmont Heights, Rancho Obispo offers a prime coastal location that is consistently ranked among the top neighborhoods for
young professionals. Known for its historic charm, tree-lined streets, and walkability, the area provides convenient access to the beach, Retro Row, and a wide selection of restaurants, bars, coffee shops, and parks.
Note: This property may be sold together with Coronado House, the adjacent 27-unit property at 425 Coronado Avenue.
PROPERTY FACTS
| Price | $8,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $390,476 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 4.55% | Building Size | 20,802 SF |
| Gross Rent Multiplier | 12.86 | No. Stories | 3 |
| No. Units | 21 | Year Built | 1969 |
| Property Type | Multifamily | Parking Ratio | 0.96/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LBR3S | ||
| Price | $8,200,000 |
| Price Per Unit | $390,476 |
| Sale Type | Investment |
| Cap Rate | 4.55% |
| Gross Rent Multiplier | 12.86 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 20,802 SF |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 0.96/1,000 SF |
| Zoning | LBR3S |
AMENITIES
UNIT AMENITIES
- Balcony
- Cable Ready
- Disposal
- Storage Space
- Heating
- Tile Floors
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Controlled Access
- Clubhouse
- Laundry Facilities
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | 1,100 |
| 1+1 | 15 | - | 825 |
| Studios | 1 | - | 400 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 7257-004-031 | Improvements Assessment | $4,775,436 |
| Land Assessment | $4,032,590 | Total Assessment | $8,808,026 |
PROPERTY TAXES
Parcel Number
7257-004-031
Land Assessment
$4,032,590
Improvements Assessment
$4,775,436
Total Assessment
$8,808,026
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Obispo Ranch | 430 Obispo Ave
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