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434 W 9th St 8 Unit Apartment Building $1,500,000 ($187,500/Unit) 6.44% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Premium Long Beach Location just blocks from Downtown Long Beach
- Newer Systems and Renovated Interiors
- On-Site Laundry and Gated Entry For Tenants
- 1 Bedroom Townhouse Style, 1 Bedroom, and Studio Units
- Upside in Rents
EXECUTIVE SUMMARY
Skyline Commercial Advisors is pleased to present the opportunity to acquire The 9th St Apartments, a 8 unit apartment building located in Long Beach, CA. The property offers an excellent mix of units including (2) 1 bedroom townhouse units, (2) 1 bedroom units, and (4) studio units. Tenants enjoy secure gated entry, on-site laundry, as well as being located just a few blocks from Downtown Long Beach. The building has been well maintained with newer electrical and renovated interiors showing clear pride of ownership. An investor can acquire an asset that will immediately cash flow with an opportunity to improve the income over time in an area that is currently undergoing major redevelopment.
PROPERTY FACTS
| Price | $1,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.44% | Building Size | 4,302 SF |
| Gross Rent Multiplier | 10.22 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | PD | ||
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| Gross Rent Multiplier | 10.22 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,302 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1922 |
| Opportunity Zone |
Yes |
| Zoning | PD |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gated
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 4 | - | - |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 7272-010-017 | Improvements Assessment | $267,407 |
| Land Assessment | $612,938 | Total Assessment | $880,345 |
PROPERTY TAXES
Parcel Number
7272-010-017
Land Assessment
$612,938
Improvements Assessment
$267,407
Total Assessment
$880,345
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434 W 9th St
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