$7,400,000
1827 East 4th Street
Details
APN 7266-026-036
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,168
Units 19
Cap Rate 5.13%
NOI $37,900
Price per SqFt $487
Year Built 2023/25
Buildings 2
Acreage 0.201
Zoning LBCNR
Parking Spaces 8 spaces
Parking Per SqFt 0.53
Multifamily | 19 Units | $38,900/unit
Marketing description
1827 is an immaculate 19-unit apartment building in the prime submarket of Retro Row Long Beach. Situated just steps away from the
Pacific Ocean, this asset has been meticulously re-built, fully leased, and offers strong cash-flow and long-term appreciation
Retro Row is one of the hottest submarkets in rapidly gentrifying Long Beach, due to its growing influx of creative professionals given the unique attributes including proximity to the Pacific Ocean, Bluff Park, cafés/boutiques, TAMI employers and transportation nodes.
Renovated post Title-24, including but not limited to 100% all new plumbing (including waste pipes, water lines, gas lines, backflow preventer, 2” water main); brand new hot water heater; 100% all new electrical including new individual subpanels, new 400amp main disconnect for 17 units and a separate brand new 200amp main disconnect for the 2 ground-up units, solar panels; gas wall heaters in 17 units and HVAC mini splits in 2 units; all new doors and windows; new exhaust fans; 4 mechanized garage doors; landscape and hardscape including community amenities; paint; modern kitchens and baths; EnergyStar appliances; designer fixtures, quartz, plank floors, ceiling fans
Investment highlights
- 100% all new plumbing including all waste pipes, water lines, backflow preventer, water main, and individual unit water heaters.
- 100% all new electrical including a 400amp main disconnect and all new meters for the 17 units in the main asset and a 200amp main disconnect for the 2 ground up units with solar, all new subpanels, all new conduit, GFCI outlets (as applicable).
- 100% all new mechanical including gas wall heaters, mini splits in the 2 ground up units, washer/dryer venting, bathroom and kitchen exhausts.
- Complete interior renovations' All new modern Kitchens including quartz countertops, Energy-Star appliances, designer light fixtures, designer faucets, tile, European cabinets, all new Energy-Star appliances
- 100% brand new bathrooms including plank flooring, designer fixtures, and modern tub/shower enclosure, upgrades to-current mechanical code including radiation dampers
- Plank vinyl flooring, all new new doors and windows, new ceiling fans
- All new façade, new garage doors, new parking garage built from the ground up.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$37,900.00
$3,158.33/mo
Valuation Metrics
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DSCR
0.51%
Cap Rate
0.51%
ROI
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