219 W 9th St Long Beach, CA 90813
Active
$2,400,000
10%
8 Units
10 Beds
8 Baths
6,365 Area(sq.ft.)
7,500 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | 3 | 1 | No | $ 2,086 | $ 4,172 | $ 5,390 |
| Unit 2 | 1 | 2 | 2 | No | $ 2,500 | $ 2,500 | $ 2,495 |
| Unit 3 | 3 | 1 | 1 | No | $ 2,187 | $ 6,560 | $ 6,750 |
| Unit 4 | 2 | 1 | 1 | No | $ 2,083 | $ 4,165 | $ 4,300 |
| 4 | 8 | 13 | 9 | $ 17,399 | $ 38,854 | $ 42,125 |
| MLS #: | 24-444813 |
| Days On Market: | 120 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 377 |
| Price per unit: | $ 300,000 |
| Year Built: | 1929 |
Property Details
219 W. 9th Street is an eight-unit apartment community located near Downtown Long Beach, operating at a 6.18% cap rate and 11.42 GRM . The property is comprised of three buildings on a 7,500 square foot lot.The property consists of five units constructed in 1983 and three original units built in 1929. 219 W. 9th Street has a varied unit mix of: two Junior 1BD/1BA, three 1BD/1BA, one 2BD/2BA, and two 3BD/1BA. Six of these units have been upgraded with high-end finishes, including in-unit washer/dryers, new cabinets, countertops, and dishwashers.The property completed several capital upgrades, including a new roof on the front building, partially updated electrical and plumbing systems, and new windows were installed in the renovated units.The asset boasts a total of 13 parking spaces, seven (7) garages and six (6) surface spaces. The garages may potentially be converted to ADUs for additional income.Interested in this Listing?
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Income Details
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 203,898 |
| Total Annual Expense: | $ 55,609 |
| Net Operating Income: | $ 148,289 |
| Gross Annual Income: | $ 210,204 |
| Gross Rent Multiplier: | 11.42 |
Structure
| Type of Units: | Apartment |
| Buildings: | 3 |
| Levels: | Two |
Land & Parking
| Zoning: | LBCO |
| Parking Garage: | Parking Space, Gated |
| Total Parking: | 13 |
Interior
| AC/Cooling: | Other |
| Equipment: | Dryer, Washer |
| Heating: | Other |
| Laundry: | In Unit |
| Laundry Income: | 1440.00 |
Exterior
Detailed Map
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