thank you
Your email has been sent.
1107 Mahanna Ave 3 Unit Apartment Building $775,000 ($258,333/Unit) 6.57% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Property is found in the highly desirable rental market of Long Beach, CA
- Value-Add Potential; Upside in Rental Income
- Residential Financing Available for 1-4 unit properties
- Proximity to Downtown Long Beach (2.0 Miles) and the California coastline (1.5 Miles)
- Unit Mix Consists of (1) 2BD/1BA and (2) 1BD/1BA units
- Potential "House-Hack" investment; Live in one unit and rent out the others
EXECUTIVE SUMMARY
The Swanson Apartment Team is thrilled to announce our newest listing in the heart of one of Southern California's premier rental markets in Long Beach, CA. This asset presents an opportunity for both new and experienced investors alike due to the low price point and value-add potential. Select units have Washer/Dryer Hookups, and the property features single-story construction throughout. Additionally, there currently are two (2) vacant units (both 1BD), allowing for immediate rental upside. A new investor can also take advantage of residential financing programs available for 1-4 unit properties.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$68,220
|
$40.25
|
| Other Income |
$3,300
|
$1.95
|
| Vacancy Loss |
$2,146
|
$1.27
|
| Effective Gross Income |
$69,374
|
$40.93
|
| Taxes |
$8,485
|
$5.01
|
| Operating Expenses |
$9,965
|
$5.88
|
| Total Expenses |
$18,450
|
$10.88
|
| Net Operating Income |
$50,924
|
$30.04
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $68,220 |
| Annual Per SF | $40.25 |
| Other Income | |
|---|---|
| Annual | $3,300 |
| Annual Per SF | $1.95 |
| Vacancy Loss | |
|---|---|
| Annual | $2,146 |
| Annual Per SF | $1.27 |
| Effective Gross Income | |
|---|---|
| Annual | $69,374 |
| Annual Per SF | $40.93 |
| Taxes | |
|---|---|
| Annual | $8,485 |
| Annual Per SF | $5.01 |
| Operating Expenses | |
|---|---|
| Annual | $9,965 |
| Annual Per SF | $5.88 |
| Total Expenses | |
|---|---|
| Annual | $18,450 |
| Annual Per SF | $10.88 |
| Net Operating Income | |
|---|---|
| Annual | $50,924 |
| Annual Per SF | $30.04 |
PROPERTY FACTS
| Price | $775,000 | Apartment Style | Garden |
| Price Per Unit | $258,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.57% | Building Size | 1,695 SF |
| Gross Rent Multiplier | 11.36 | Average Occupancy | 67% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1919 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Zoning | LBR2N - Residential | ||
| Price | $775,000 |
| Price Per Unit | $258,333 |
| Sale Type | Investment |
| Cap Rate | 6.57% |
| Gross Rent Multiplier | 11.36 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 1,695 SF |
| Average Occupancy | 67% |
| No. Stories | 1 |
| Year Built | 1919 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | LBR2N - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,650 | 450 |
| 2+1 | 1 | $950.00 | 800 |
1 of 1
Walk Score®
Walker's Paradise (90)
1 of 16
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1107 Mahanna Ave
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.