435 W 11th Street

    Long Beach, CA 90813
    • $2,199,000
    • STATUS: Active
    • ON SITE: 60 days
    • ID#: OC18230942
    UPDATED: 46 min ago
    $2,199,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,395
      SQFT
    • $344
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1936
    County:

    School Ratings & Info

    Description

    The Eleventh Street Apartments, is a nine-unit apartment building located in the Willmore Historic District within the strong rental market of Long Beach, California. The property offers a desirable unit mix of (5) two bedroom/ one bath-room units and (4) one bedroom/ one bathroom units totaling 6,395 square feet, situated on a 9,895 square foot lot. The building has recently gone through extensive interior and exterior renovations including, but not limited to: new roofs, garages, windows, complete interiors, fencing, concrete, and plumbing. Tenants also enjoy washer and dryer hookups in each unit, large fenced patios/yards, and enclosed garages.The Eleventh Street Apartments represents an opportunity for an investor to acquire a very stable investment with a 5.12% CAP Rate and 6.69% Total Return on current income. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T10:26:53.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bentongrouphomes.com/homes/87822407

    435 W 11th Street Long Beach, CA 90813

    • Price: $2,199,000
    • Status: Active
    • Updated: 46 min ago
    • ID#: OC18230942
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    6,395
    SQFT
    $344
    $/SQFT
    1936
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Los Angeles
    Area:
    699 - Not Defined
    Property Description
    The Eleventh Street Apartments, is a nine-unit apartment building located in the Willmore Historic District within the strong rental market of Long Beach, California. The property offers a desirable unit mix of (5) two bedroom/ one bath-room units and (4) one bedroom/ one bathroom units totaling 6,395 square feet, situated on a 9,895 square foot lot. The building has recently gone through extensive interior and exterior renovations including, but not limited to: new roofs, garages, windows, complete interiors, fencing, concrete, and plumbing. Tenants also enjoy washer and dryer hookups in each unit, large fenced patios/yards, and enclosed garages.The Eleventh Street Apartments represents an opportunity for an investor to acquire a very stable investment with a 5.12% CAP Rate and 6.69% Total Return on current income. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
    Exterior Features

    Garage Spaces 8.00 Lot Features Front YardNear Public Transit Lot Size Units Square Feet Parking Features GarageUncovered Parking Total 10.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Gas & Electric Dryer HookupWasher Hookup

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsSidewalksStorm DrainsStreet Lighting Country Us Electric Expense 750.00 Elevation Units Feet Fuel Expense 750.00 Garage Income 1200.00 Gross Income 156600.00 Gross Scheduled Income 155400.00 Insurance Expense 2500.00 Land Lease YN No Laundry YN Yes Net Operating Income 112514.00 New Construction YN No New Taxes Expense 26388.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Operating Expense 39388.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 12950.00 Total Expenses 39388.00 Trash Expense 750.00 Vacancy Allowance 4698 Water Sewer Expense 750.00 Water Source Public Zoning Lbpd10

    Listing provided courtesy of Greg Bassirpou of Marcus & Millichap Re Invest.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T10:26:53.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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