5729 California Avenue,Long Beach, CA 90805
Unit
Price
Price Per Unit
Price per SF
Current Cap Rate
Market Cap Rate
Current GRM
Market GRM
5729 California Avenue,Long Beach, CA 90805
Price
Price per SF
Price Per Unit
Price per SF
Current Cap Rate
Market Cap Rate
Unit
Current GRM
Market GRM
5729 California Avenue is a seven-unit property located in North Long Beach. The property is comprised of six (6) studio units and a detached, remodeled 2BD/1BA house. The house was completely renovated as of 2022.
The property is priced at 11.96 x gross and 5.18 cap rate on current rents. A new owner has the opportunity to increase rents and achieve 10.60 x gross and 6.17% cap rate.
Additional income generating opportunities for a new owner include renting out storage spaces and surface parking spots on the property.
Each building has its own electric meter, and a new owner could implement RUBS to further bring down operating expenditures.