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1034 Newport Ave

4 Unit Apartment Building $2,374,262 CAD ($593,566 CAD/Unit) 4.31% Cap Rate Long Beach, CA 90804

Investment Highlights

  • Prime Long Beach location: 91 Walk Score, easy access to shopping, dining and recreational facilities
  • Updated Units & Features: Three units recently remodeled with spacious layouts, individual water heaters, and electric-only utilities
  • Strong Investment Appeal: Attractive 4.31% CAP rate (actual) and potential for 18% rent upside
  • Ample Parking & Amenities: Includes three single-car garages, one two-car garage, onsite laundry and a fully gated, secure property

Executive Summary

4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured.
The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.

Financial Summary (Actual - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual $99,999
Annual Per SF $9.99
Vacancy Loss (CAD)
Annual $99,999
Annual Per SF $9.99
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $2,374,262 CAD
Price Per Unit $593,566 CAD
Sale Type Investment
Cap Rate 4.31%
Gross Rent Multiplier 14.73
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.14 AC
Building Size 4,170 SF
Average Occupancy 100%
No. Stories 2
Year Built 1972

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2 1 - -
2+2 2 - -
2+1 1 - -
Walk Score ®
Walker's Paradise (91)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7258-008-006
Land Assessment
$1,284,895 CAD
Improvements Assessment
$542,162 CAD
Total Assessment
$1,827,056 CAD

zoning

Zoning Code LBR4R
LBR4R
  • Listing ID: 34072545

  • Date on Market: 2024-12-03

  • Last Updated:

  • Address: 1034 Newport Ave, Long Beach, CA 90804

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