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361 Walnut Avenue

361 Walnut Avenue,Long Beach, CA 90802

4

Unit

$1,050,000

Price

Property Details

Price Per Unit

$262,500

Price per SF

$357

Current Cap Rate

5.06%

Market Cap Rate

6.17%

Current GRM

12.24

Market GRM

10.67

361 Walnut Avenue

361 Walnut Avenue,Long Beach, CA 90802

$1,050,000

Price

Property Details

Price per SF

$357

Price Per Unit

$262,500

Price per SF

$357

Current Cap Rate

5.06%

Market Cap Rate

6.17%

Unit

4

Current GRM

12.24

Market GRM

10.67

Description

361 Walnut Avenue is an attractive 4-unit investment opportunity in highly desirable Alamitos Beach, offered at 5.06% cap rate and 12.24 GRM on current rents.

The property is comprised of (1) 2BD/1.5BA unit; (1) 1BD/1.5BA + Loft + Den; and (2) 1BD/1BA units. Upstairs units feature private balconies, and the 5,007-square-foot lot offers shared outdoor space between the front and rear buildings.

With a 94 Walk Score and a 93 Bike Score, this asset is in close proximity to the beach and bike path as well as the numerous dining, shopping and lifestyle amenities along 4th Street/Retro Row.

Highlights

  • 5.06% Cap Rate / 12.24 GRM on Actuals
  • ±16% Potential Rental Upside
  • Attractive mix of 1BD and 2BD Units
  • Private Balconies for Upstairs Units
  • Excellent Alamitos Beach Location – 94 Walk Score

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