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Red Peak Long Beach Collection

,Long Beach,

155

Unit

$41,850,000

Price

Property Details

Price Per Unit

$270,000

Price per SF

$

Current Cap Rate

Market Cap Rate

Current GRM

Market GRM

Red Peak Long Beach Collection

,Long Beach,

$41,850,000

Price

Property Details

Price per SF

$

Price Per Unit

$270,000

Price per SF

$

Current Cap Rate

Market Cap Rate

Unit

155

Current GRM

Market GRM

Description

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.

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

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