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9 Units in Long Beach - 6.7% CAP 435-437 W 11th St 9 Unit Apartment Building £1,406,665 (£156,296/Unit) 6.89% Net Initial Yield Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Priced to sell at 9.6 GRM and 6.9% CAP with rental upside to a 8.4 GRM.
- Most units have private parking and outdoor patios.
- 8.4 GRM and 8.4% CAP at market rents.
- EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
- Located blocks from Downtown Long Beach and $8BB in Redevelopment.
- NO Local Rent Control.
EXECUTIVE SUMMARY
PRICED REDUCED AND READY TO SELL.
Priced to sell at 9.6 GRM and 6.9% CAP with upside to 8.4 GRM and a 8.4% CAP.
NO Local Rent Control.
9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side, blocks from Downtown where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater.
Escape Los Angeles Rent Control (RSO) and invest in a more landlord-friendly environment - welcome to Long Beach. Stop dealing with difficult tenants and a City that wants to continue to stifle your annual rent increases. Instead, own a building located blocks from the Ocean.
Rents have not been raised in over a year. A new owner can raise rents to market and achieve a 8.5 GRM and 8.2% CAP. Earn over a 14% cash-on-cash return at market rents. Qualified Buyers can put down as little as 25% with lender financing.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Priced to sell at 9.6 GRM and 6.9% CAP with upside to 8.4 GRM and a 8.4% CAP.
NO Local Rent Control.
9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side, blocks from Downtown where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater.
Escape Los Angeles Rent Control (RSO) and invest in a more landlord-friendly environment - welcome to Long Beach. Stop dealing with difficult tenants and a City that wants to continue to stifle your annual rent increases. Instead, own a building located blocks from the Ocean.
Rents have not been raised in over a year. A new owner can raise rents to market and achieve a 8.5 GRM and 8.2% CAP. Earn over a 14% cash-on-cash return at market rents. Qualified Buyers can put down as little as 25% with lender financing.
EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£146,589
|
£22.97
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£146,589
|
£22.97
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £146,589 |
| Annual Per sq ft | £22.97 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £146,589 |
| Annual Per sq ft | £22.97 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
PROPERTY FACTS
| Price | £1,406,665 | Costar Property Class | B |
| Price Per Unit | £156,296 | Total Plot Size | 0.23 ac |
| Sale Type | Investment | Property Size | 6,383 sq ft |
| Yield | 6.89% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.6 | No. Floors | 2 |
| No. Units | 9 | Year Built/Renovated | 1936/2018 |
| Property Type | Build-to-Rent | Parking Allocation | 1.25/1,000 sq ft |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Use Class | LBPD10 - 0500 - 5 Or More Apts Or Units, Coop Or Oyo Projects - 4 | ||
| Price | £1,406,665 |
| Price Per Unit | £156,296 |
| Sale Type | Investment |
| Yield | 6.89% |
| Gross Rent Multiplier | 9.6 |
| No. Units | 9 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Costar Property Class | B |
| Total Plot Size | 0.23 ac |
| Property Size | 6,383 sq ft |
| Average Occupancy | 100% |
| No. Floors | 2 |
| Year Built/Renovated | 1936/2018 |
| Parking Allocation | 1.25/1,000 sq ft |
| Opportunity Zone |
Yes |
| Use Class | LBPD10 - 0500 - 5 Or More Apts Or Units, Coop Or Oyo Projects - 4 |
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Easily Walkable (87)
Bike Score®
Good for cycling (87)
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9 Units in Long Beach - 6.7% CAP | 435-437 W 11th St
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