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925 E. 5th Street

925 E. 5th Street,Long Beach, CA 90802

12

Unit

$3,050,000

Price

Property Details

Price Per Unit

$254,167

Price per SF

$380

Current Cap Rate

5.77%

Market Cap Rate

6.82%

Current GRM

11.45

Market GRM

10.13

925 E. 5th Street

925 E. 5th Street,Long Beach, CA 90802

$3,050,000

Price

Property Details

Price per SF

$380

Price Per Unit

$254,167

Price per SF

$380

Current Cap Rate

5.77%

Market Cap Rate

6.82%

Unit

12

Current GRM

11.45

Market GRM

10.13

Description

925 E. 5th Street is a 12-unit apartment property located in Prime Alamitos Beach. The all-electric building features four (4) 2BD / 2BA units; two (2) 2BD / 1BA units; and six (6) 1BD / 1BA units.
Eleven (11) of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All remodeled units feature in-unit washers and dryers.

There are six (6) garages that offer the opportunity for ADU conversion for additional rental income.

The building has a historically high tenant retention rate, due to its location in highly desirable Alamitos Beach. The property boasts a Walk Score of 93 and a Bike Score of 92, providing excellent accessibility to a plethora of dining, shopping and lifestyle amenities.

Highlights

  • Priced at 11.45 GRM/5.77% Cap Rate in Prime Alamitos Beach
  • 11 of 12 Units are Remodeled with In-Unit Washer/Dryer
  • Excellent Mix of One- and Two-Bedroom Units
  • Six (6) Garages with ADU Conversion Potential
  • All-Electric Building; Separately Metered
  • Historically High Tenant Retention

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