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4130 E. 10th Street

4130 E. 10th Street,Long Beach, CA 90804

10

Unit

$2,495,000

Price

Property Details

Price Per Unit

$249,500

Price per SF

$717

Current Cap Rate

4.4%

Market Cap Rate

6.1%

Current GRM

13.9

Market GRM

11.1

4130 E. 10th Street

4130 E. 10th Street,Long Beach, CA 90804

$2,495,000

Price

Property Details

Price per SF

$717

Price Per Unit

$249,500

Price per SF

$717

Current Cap Rate

4.4%

Market Cap Rate

6.1%

Unit

10

Current GRM

13.9

Market GRM

11.1

Description

4130 E. 10th Street is a 10-unit apartment building in a quiet neighborhood near Belmont Heights in Long Beach, California.

The property consists of ten (10) studio units. Six (6) of the units have been renovated with new flooring, updated kitchens with new stainless steel appliances and updated bathrooms.

An adjacent parking lot offers eight (8) surface parking spaces with potential for additional income. On site laundry is available, contributing to the current income. The building is master metered for gas and electricity and has an in-place RUBS program.

The property is located nearby to Recreation Park Golf Course and Colorado Lagoon which offer various outdoor activities. Additionally, the property is located less than two (2) miles to California State University Long Beach, which has a student population of 37,500 and employed faculty of 2,000.

4130 E. 10th Street provides a new owner with strong in-place cash flow with the opportunity to remodel the remaining four (4) units.

Highlights

  • Quiet Residential Neighborhood Near Belmont Heights
  • Value-Add Opportunity – Potential to Renovate Remaining Units
  • Adjacent Parking Lot with 8 Surface Spaces
  • Potential to Turn Parking Lot into 2 ADUs
  • Strong In-Place Cash Flow

Map

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