Deal numbers
- Est. cap rate
- 2.9%
- Assumed rent, all units
- $4,500/mo
- Units
- 2
- Price per unit
- $467,500
- Est. annual NOI
- $27,000
- Expense assumption
- 50%
Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.
Run your own numbers
Adjust the assumptions to see cash flow and cash on cash return.
- Effective gross income
- $51,300
- Operating expenses
- $25,650
- Net operating income
- $25,650
- Annual debt service
- $55,985
- Annual cash flow
- -$30,335
- Cash on cash return
- -13.0%
- Down payment
- $233,750
Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.
Property details
- Type
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Building size
- 1,490 sqft
- Lot size
- 6,489 sqft
- Year built
- 1921
- Stories
- 1
- Garage spaces
- 1
- Heating
- Wall Furnace
- Cooling
- None
- Pool
- None
- View
- None
- Status
- Active
- Days on market
- 15
- MLS #
- 246245064
About this property
Welcome to 1035 Ohio Avenue, an exceptional Long Beach duplex featuring two detached residences on a generous 6,489-square-foot lot. Offering a combined 1,490 square feet of living space, this property presents a premier opportunity for an owner-user seeking a versatile living arrangement or a savvy investor. The main house arrives vacant and refreshed with a new exterior paint scheme and a crisp, neutral interior palette featuring new flooring and paint throughout. The brand-new kitchen is anchored by elegant quartz countertops, new cabinetry, and a modern range hood, intentionally left without appliances to allow for your personal selection. The bathroom has been updated with a new vanity and contemporary finishes. Additional features include dedicated laundry hookups, a long driveway for ample off-street parking, and a detached storage shed for added utility. The detached rear residence offers a private yard and independent alley access. Fully updated and well maintained, this unit includes a full suite of appliances and in-unit laundry. The associated garage is finished with drywall and currently serves as a creative music room. This unit is occupied by a month-to-month tenant providing immediate cash flow. With two distinct homes and extensive recent improvements, this is a versatile and compelling asset in a vibrant Long Beach location.
Location
1035 Ohio Avenue
Long Beach, Los Angeles, CA, 90804