10355 Long Beach Blvd
30 Unit Apartment Building $6,322,762 CAD ($210,759 CAD/Unit) 6.16% Cap Rate Lynwood, CA 90262
INVESTMENT HIGHLIGHTS
- Corner Location with High Visibility in an Excellent Rental Market
- Priced to Sell at $147,667/Unit
- Massive Amount of Rental Upside
- New Roof, Electrical Panels & Water Heaters
- Mix of Studio, 1, & 2-Bedroom Units
- Lynwood Address in a South Gate Neighborhood
EXECUTIVE SUMMARY
Presenting 10355 Long Beach Boulevard, a rare 30-unit multifamily opportunity with excellent visibility on a corner location of a high-traffic thoroughfare. The property has a Lynwood address but lies in a South Gate neighborhood. The property offers a mix of studio, 1 and 2-bedroom units that perfectly cater to the surrounding tenant base. The property is master-metered for all utilities. The roof, electrical panels and water heaters have all recently been replaced new. There is ample parking (31 spaces), laundry facilities and gated access.
Lynwood is an excellent rental market for apartment owners, with the Lynwood/South Gate rental market having extremely low historical vacancy rates and no Lynwood rent control. Given the property’s ideal central location (30 minutes or less median travel time to work) and the city’s renter profile being over 50% of the population, 10355 Long Beach Boulevard benefits from rapidly rising rents as demand far outpaces supply. There is substantial upside to bring the rents up to market levels.
Please contact listing broker for an Offering Memorandum.
Lynwood is an excellent rental market for apartment owners, with the Lynwood/South Gate rental market having extremely low historical vacancy rates and no Lynwood rent control. Given the property’s ideal central location (30 minutes or less median travel time to work) and the city’s renter profile being over 50% of the population, 10355 Long Beach Boulevard benefits from rapidly rising rents as demand far outpaces supply. There is substantial upside to bring the rents up to market levels.
Please contact listing broker for an Offering Memorandum.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$650,026
|
$43.55
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$19,501
|
$1.31
|
| Effective Gross Income |
$630,525
|
$42.24
|
| Taxes |
$79,035
|
$5.29
|
| Operating Expenses |
$161,993
|
$10.85
|
| Total Expenses |
$241,027
|
$16.15
|
| Net Operating Income |
$389,498
|
$26.09
|
PROPERTY FACTS
| Price | $6,322,762 CAD |
| Price Per Unit | $210,759 CAD |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 9.73 |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 14,927 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 2.08/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 21 | $1,741 CAD | - |
| 1+1 | 8 | $1,743 CAD | - |
| 2+2 | 1 | $2,855 CAD | - |
1 of 1
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 6207-024-024 | Total Assessment | $9,188,538 CAD |
| Land Assessment | $5,833,992 CAD | Annual Taxes | $79,035 CAD ($5.29 CAD/SF) |
| Improvements Assessment | $3,354,546 CAD | Tax Year | 2024 |
