1435 Walnut Ave
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1435 Walnut Ave
6 Unit Block of Flats £1,098,987 (£183,165/Unit) 5.16% Net Initial Yield Long Beach, CA 90813
Investment Highlights
- Recent Capital Improvements - New Roof Installed (2024)
- Value-Add Opportunity - Current Rents are Approx. 40% Below Market Level
- ADU Potential - Option to Convert Existing Garage/Storage Space into Additional Unit(s)
- All Two-Bedroom Units
- Located in an Opportunity Zone
- Desirable Long Beach Location (Walk Score: 84) - Less than 2-Miles from the Beach & Downtown Long Beach
Executive Summary
1435 Walnut Ave. is a 6-unit multifamily property located in an opportunity zone. This value-add asset has all two-bedroom floorplans with over 770 SF each. Recent capital improvements include new roof installed in 2024.
Property Facts
| Price | £1,098,987 | Apartment Style | Low Rise |
| Price Per Unit | £183,165 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Net Initial Yield | 5.16% | Building Size | 4,633 SF |
| Gross Rent Multiplier | 11.45 | Number of Floors | 2 |
| No. Units | 6 | Year Built | 1964 |
| Property Type | Residential | Parking Ratio | 1.51/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,098,987 |
| Price Per Unit | £183,165 |
| Sale Type | Investment |
| Net Initial Yield | 5.16% |
| Gross Rent Multiplier | 11.45 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,633 SF |
| Number of Floors | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.51/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Fenced Lot
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 6 | £1,284 | 772 |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 7268-039-024 | Improvements Assessment | £542,033 |
| Land Assessment | £589,167 | Total Assessment | £1,131,200 |
PROPERTY TAXES
Parcel Number
7268-039-024
Land Assessment
£589,167
Improvements Assessment
£542,033
Total Assessment
£1,131,200
zoning
| Zoning Code | LBR2N |
| LBR2N |
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1435 Walnut Ave
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