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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