3011 E. 4th Street

3011 E. 4th Street, Long Beach, CA 90814

Sale Price

$2,500,000

Investment Overview

Units

8

Year Built

1963

Price Per SF

$390

Price Per Unit

$312,500

Current Cap Rate

4.37

Market Cap Rate

5.47

Current GRM

14.60

Market GRM

1241

The Offering

3011 E. 4th Street, Long Beach, CA 90814

Price: $2,500,000
Units: 8
Year Built: 1963
Size: 6,403 SF
Current Cap Rate: 4.37%
Current GRM: 14.60
Market Cap Rate: 5.47%
Market GRM: 1241
Price per Unit: $312,500
Price per SF: $390

Investment Highlights

  • Value-add opportunity with +/-18% rental upside potential
  • Located in the heart of the desirable 4th Street / Retro Row
  • Attractive mix of (7) two-bedroom / one-bath units and (1) three-bedroom / two-bath unit
  • Three of the 8 units have been completely renovated
  • Capital improvements include quartz countertops, new hardwood flooring and new cabinets
  • Ample parking with four garages with tandem driveway spaces in front of building