737 E 5th St
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737 E 5th St
14 Unit Apartment Building $6,328,800 CAD ($452,057 CAD/Unit) 5.66% Cap Rate Long Beach, CA 90802
Investment Highlights
- Mostly 2 Bedroom Units
- Great Long Beach Location
- Upside In Rents
- Well Maintained - New Roof, New Windows, Copper Plumbing, New Electrical
- Garages
Executive Summary
Excellent opportunity to acquire an attractive, "Turnkey" apartment building in a great Long Beach location! The building was built in 1964 and features 4 One Bedroom units, 4 Two Bedroom One Bath units, and 6 Two Bedroom Two Bath units. The units are separately metered for utilities. Current ownership has taken great care of these buildings, and over the years has replumbed the building, upgraded the electrical, and installed new windows. The roof was replaced in the past 2 years. Parking consists of on and off street parking with 7 garages that are currently rented for $205/Month. Currently the building is 100% occupied and the rents are below market. Historically the building has enjoyed excellent occupancy.
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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $6,328,800 CAD | Building Class | C |
| Price Per Unit | $452,057 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 12,412 SF |
| Cap Rate | 5.66% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.05 | No. Stories | 3 |
| No. Units | 14 | Year Built/Renovated | 1964/2022 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $6,328,800 CAD |
| Price Per Unit | $452,057 CAD |
| Sale Type | Investment |
| Cap Rate | 5.66% |
| Gross Rent Multiplier | 12.05 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,412 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1964/2022 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
Site Amenities
- Laundry Facilities
- Security System
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,500 CAD | 500 - 550 |
| 2+2 | 6 | $3,211 CAD | 750 - 775 |
| 2+1 | 4 | $3,010 CAD | 600 - 650 |
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Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 7281-003-019 | Total Assessment | $1,440,948 CAD |
| Land Assessment | $411,693 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,029,255 CAD | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
7281-003-019
Land Assessment
$411,693 CAD
Improvements Assessment
$1,029,255 CAD
Total Assessment
$1,440,948 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | R4 |
| R4 |
-
Joseph Linkogle -
Marcus & Millichap
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737 E 5th St
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