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6.40% Cap + 10.23 GRM | 7.60% Pro Forma 1036 Saint Louis Ave 9 Unit Apartment Building $3,308,091 CAD ($367,566 CAD/Unit) 6.40% 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 7.60% Cap Rate
- New 400 AMP Main Electrical Panel, SB 721 Balcony Compliance & Partial Main Sewer Line Replacement in 2025
- 10.23 GRM & 6.40% Cap Rate
- (6) On-Site Garages - Opportunity to Convert to ADU's
Executive Summary
$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.
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.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$311,652
|
$46.03
|
| Other Income |
$11,785
|
$1.74
|
| Vacancy Loss |
$9,350
|
$1.38
|
| Effective Gross Income |
$314,087
|
$46.39
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$102,458
|
$15.13
|
| Net Operating Income |
$211,629
|
$31.26
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $311,652 |
| Annual Per SF | $46.03 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,785 |
| Annual Per SF | $1.74 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,350 |
| Annual Per SF | $1.38 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $314,087 |
| Annual Per SF | $46.39 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $102,458 |
| Annual Per SF | $15.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $211,629 |
| Annual Per SF | $31.26 |
Property Facts
| Price | $3,308,091 CAD | Building Class | C |
| Price Per Unit | $367,566 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 6,770 SF |
| Cap Rate | 6.40% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.23 | 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 - multiple dwelling | ||
| Price | $3,308,091 CAD |
| Price Per Unit | $367,566 CAD |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 10.23 |
| 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 - multiple dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,084 CAD | 1,000 |
| 2+1 | 6 | $2,885 CAD | 750 |
| 1+1 | 2 | $2,430 CAD | 600 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7262-007-010 | Improvements Assessment | $2,320,421 CAD |
| Land Assessment | $1,197,636 CAD | Total Assessment | $3,518,057 CAD |
Property Taxes
Parcel Number
7262-007-010
Land Assessment
$1,197,636 CAD
Improvements Assessment
$2,320,421 CAD
Total Assessment
$3,518,057 CAD
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6.40% Cap + 10.23 GRM | 7.60% Pro Forma | 1036 Saint Louis Ave
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