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839 Longbranch Ave 7 Unit Apartment Building Offered at $2,800,000 at a 4.74% Cap Rate Grover Beach, CA 93433
Executive Summary
Well-maintained 7-unit apartment building in an excellent Grover Beach location. Conveniently located near the popular Grand Avenue corridor with shopping, restaurants, and ongoing new development, the property also offers easy access to the beach, community parks, the Amtrak station, public transportation, Highway 1, and Highway 101.
Five of the seven units have been updated with updated flooring, countertops, fixtures, and appliances. A recently installed MeterNet water sub-metering system allows the owner to recover water costs from tenants, helping improve operating efficiency. Additional amenities include seven private garages, off-street parking, and a community coin-operated laundry facility.
With recent capital improvements, utility cost recovery through water sub-metering, and future rental upside, this property presents an excellent investment opportunity.
Five of the seven units have been updated with updated flooring, countertops, fixtures, and appliances. A recently installed MeterNet water sub-metering system allows the owner to recover water costs from tenants, helping improve operating efficiency. Additional amenities include seven private garages, off-street parking, and a community coin-operated laundry facility.
With recent capital improvements, utility cost recovery through water sub-metering, and future rental upside, this property presents an excellent investment opportunity.
Property Facts
| Price | $2,800,000 | No. Units | 7 |
| Price Per Unit | $400,000 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 6,082 SF |
| Cap Rate | 4.74% | No. Stories | 2 |
| Gross Rent Multiplier | 15.11 | Year Built | 1978 |
| Price | $2,800,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| Gross Rent Multiplier | 15.11 |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 6,082 SF |
| No. Stories | 2 |
| Year Built | 1978 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
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839 Longbranch Ave