Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

9

Building size

6,770 sqft

Lot size

6,501 sqft

Year built

1963

Stories

2

Garage spaces

6

Heating

Wall Furnace

Cooling

None

Pool

None

Status

Active

Days on market

203

MLS #

239519346

About this property

$50,000 price reduction - now offered at a 6.40% current cap rate. 1036 Saint Louis Ave is a 9-unit Eastside Long Beach apartment property featuring an attractive large-unit mix of (1) 3BD/2BA, (6) 2BD/1BA, and (2) 1BD/1BA units. The asset offers strong in-place income with approximately 13% remaining rental upside and a projected 7.60% pro forma cap rate through continued interior renovations and garage income optimization. The property has benefited from approximately $129,000 in recent capital improvements, including a new 400A main electrical panel, partial main sewer line replacement, SB 721 balcony compliance/repairs, roof repairs, and three completed unit renovations. Additional features include 6 on-site garages, separately metered electric/gas, and landlord-paid water/sewer/trash. No local rent control; statewide AB 1482 applies.

Location

1036 Saint Louis

Long Beach, Los Angeles, CA, 90804