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6.23% Cap + 10.46 GRM | 7.42% Pro Forma 1036 Saint Louis Ave 9 Unit Apartment Building $3,270,756 CAD ($363,417 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 |
$301,702
|
$44.56
|
| Other Income |
$11,036
|
$1.63
|
| Vacancy Loss |
$9,052
|
$1.34
|
| Effective Gross Income |
$303,686
|
$44.86
|
| Taxes |
$43,879
|
$6.48
|
| Operating Expenses |
$56,156
|
$8.29
|
| Total Expenses |
$100,035
|
$14.78
|
| Net Operating Income |
$203,651
|
$30.08
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $301,702 |
| Annual Per SF | $44.56 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,036 |
| Annual Per SF | $1.63 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,052 |
| Annual Per SF | $1.34 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $303,686 |
| Annual Per SF | $44.86 |
| Taxes (CAD) | |
|---|---|
| Annual | $43,879 |
| Annual Per SF | $6.48 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,156 |
| Annual Per SF | $8.29 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $100,035 |
| Annual Per SF | $14.78 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $203,651 |
| Annual Per SF | $30.08 |
Property Facts
| Price | $3,270,756 CAD | Building Class | C |
| Price Per Unit | $363,417 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 - multiple dwelling | ||
| Price | $3,270,756 CAD |
| Price Per Unit | $363,417 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 - 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 | $3,954 CAD | 1,000 |
| 2+1 | 6 | $2,793 CAD | 750 |
| 1+1 | 2 | $2,352 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 | Total Assessment | $3,416,558 CAD |
| Land Assessment | $1,163,083 CAD | Annual Taxes | $43,879 CAD ($6.48 CAD/SF) |
| Improvements Assessment | $2,253,475 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7262-007-010
Land Assessment
$1,163,083 CAD
Improvements Assessment
$2,253,475 CAD
Total Assessment
$3,416,558 CAD
Annual Taxes
$43,879 CAD ($6.48 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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