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11.49 GRM 845 E 6th St

24 Unit Block of Flats £5,013,120 (£208,880/Unit) 5.77% Net Initial Yield Long Beach, CA 90802

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Investment Highlights

All Units Fully Renovated w/ In-Unit Washer/Dryers
Brand New Electrical and Plumbing Systems
Secured Access Building in East Village Arts District - 93 Walk Score / 91 Bike Score

Excellent Mix of 2BD, 1BD and Studio Units
Low Utilities Expenses - Solar Panels

Executive Summary

845 E. 6th Street is a 24-unit apartment asset in East Village Arts District in Downtown Long Beach. The property is offered at 11.49 GRM on current rents.
The property is comprised of (8) 2BD / 2BA units, (8) 1BD / 1BA units, and (8) studios.
All of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. Remodeled units also offer in-unit washers and dryers.
Building improvements include brand new electrical and plumbing systems and solar panels on the property contribute to low utilities expenses.
The property is location in the vibrant East Village Arts District and boasts a Walk Score of 93 and a Bike Score of 91 with excellent accessiblity to a plethora of dining, shopping and lifestyle amenities.

Property Facts

Price	£5,013,120	Apartment Style	Low Rise
Price Per Unit	£208,880	Building Class	C
Sale Type	Investment	Lot Size	0.19 AC
Net Initial Yield	5.77%	Building Size	11,106 SF
Gross Rent Multiplier	11.49	Number of Floors	2
No. Units	24	Year Built/Renovated	1924/2022
Property Type	Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price	£5,013,120
Price Per Unit	£208,880
Sale Type	Investment
Net Initial Yield	5.77%
Gross Rent Multiplier	11.49
No. Units	24
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.19 AC
Building Size	11,106 SF
Number of Floors	2
Year Built/Renovated	1924/2022
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.