16-Property Long Beach Portfolio

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Sale Price

$41,850,000

Investment Overview

Units

155

Price Per Unit

$270,000

The Offering

The Long Beach Multifamily Collection is comprised of 16 stabilized assets in “B” locations across Long Beach, totaling 155 units and 96,032 square feet.

Over 45% of the units offer two or more bedrooms. Most of the units feature updated plumbing and electrical, laminate or linoleum flooring, ceiling fans, hood-vent microwaves and dishwashers.
A majority of the properties have onsite laundry rooms and offer adequate parking in neighborhoods that are typically parking-impacted.

Nearly 53% of the units are Section 8 and provide solid, reliable income. Many of the properties can be purchased with 75% LTV at an attractive 3.2% interest rate.

Investment Highlights

  • 5.26% Cap Rate on Actual Rents
  • Stabilized Assets in “B” Locations
  • 53% of Units are Section 8, Providing Reliable Income
  • 45% of Units Offer Two or More Bedrooms
  • Many of the Properties Can Be Purchased with 75% LTV at a 3.2% Interest Rate