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6.23% Cap + 10.46 GRM | 7.42% Pro Forma 1036 Saint Louis Ave 9 Unit Apartment Building $3,274,085 CAD ($363,787 CAD/Unit) 6.23% Cap Rate Long Beach, CA 90804
Investment Highlights
- $128,962.75 Spent on Capital Improvements
- 3 Out of 9 Units are Fully Renovated
- 13% Upside in Rents - Pro Forma 7.42% Cap Rate
- New 400 AMP Main Electrical Panel, SB 721 Balcony Compliance & Partial Main Sewer Line Replacement in 2025
- 10.46 GRM & 6.23% Cap Rate
- (6) On-Site Garages
Executive Summary
9-unit apartment complex in Eastside Long Beach with an exceptional large-unit mix: (1) 3BD/2BA, (6) 2BD/1BA, (2) 1BD/1BA. Strong in-place income with upside through continued unit renovations (3 of 9 units already remodeled). $129,000 in capital improvements including new 400A main electrical panel (2025), partial main sewer line replacement (2025), SB 721 balcony compliance/repairs (2025), and roof repairs (2024). 6 garages, separately metered electric/gas, owner pays water/sewer/trash. Offered at a 6.23% cap / 10.46 GRM with projected 7.26% cap at market. Not subject to local rent control (AB 1482 applies).
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$302,009
|
$44.61
|
| Other Income |
$11,047
|
$1.63
|
| Vacancy Loss |
$9,061
|
$1.34
|
| Effective Gross Income |
$303,995
|
$44.90
|
| Taxes |
$43,923
|
$6.49
|
| Operating Expenses |
$56,213
|
$8.30
|
| Total Expenses |
$100,136
|
$14.79
|
| Net Operating Income |
$203,859
|
$30.11
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $302,009 |
| Annual Per SF | $44.61 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,047 |
| Annual Per SF | $1.63 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,061 |
| Annual Per SF | $1.34 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $303,995 |
| Annual Per SF | $44.90 |
| Taxes (CAD) | |
|---|---|
| Annual | $43,923 |
| Annual Per SF | $6.49 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,213 |
| Annual Per SF | $8.30 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $100,136 |
| Annual Per SF | $14.79 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $203,859 |
| Annual Per SF | $30.11 |
Property Facts
| Price | $3,274,085 CAD | Building Class | C |
| Price Per Unit | $363,787 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 6,770 SF |
| Cap Rate | 6.23% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.46 | No. Stories | 2 |
| No. Units | 9 | Year Built/Renovated | 1963/2025 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LBR2N LBR2N | ||
| Price | $3,274,085 CAD |
| Price Per Unit | $363,787 CAD |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| Gross Rent Multiplier | 10.46 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,770 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2025 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBR2N LBR2N |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,958 CAD | 1,000 |
| 2+1 | 6 | $2,796 CAD | 750 |
| 1+1 | 2 | $2,355 CAD | 600 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 7262-007-010 | Total Assessment | $3,409,201 CAD |
| Land Assessment | $1,160,579 CAD | Annual Taxes | $43,923 CAD ($6.49 CAD/SF) |
| Improvements Assessment | $2,248,622 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7262-007-010
Land Assessment
$1,160,579 CAD
Improvements Assessment
$2,248,622 CAD
Total Assessment
$3,409,201 CAD
Annual Taxes
$43,923 CAD ($6.49 CAD/SF)
Tax Year
2025
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6.23% Cap + 10.46 GRM | 7.42% Pro Forma | 1036 Saint Louis Ave
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