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1827 E 4th St 19 Unit Apartment Building $10,640,706 CAD ($560,037 CAD/Unit) 5% Cap Rate Long Beach, CA 90802
Investment Highlights
- $2.37M tax benefit with accelerated depreciation via cost segregation is a massive financial incentive.
- Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach
- Essentially new construction: 17 re-built units (2023) and 2 ground-up units (2025).
- Low ownership overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
- $512/SF price point is below replacement cost
- 100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Executive Summary
Essentially New Construction: 17 re-built units (2023) and 2 ground-up units (2025).
$2.37M Tax Benefit: The accelerated depreciation via cost segregation is a massive financial incentive.
100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Turn-Key Operations: Fully leased with a high-credit tenant base, providing immediate stable cash flow.
Premium Unit Features: In-unit laundry and luxury quartz/designer finishes command top-of-market rents.
Strong Financials: A 5% Cap Rate at a $512/SF price point is below replacement cost.
Appreciation Catalyst: Significant upside potential tied to the 2028 Olympics and the city's $9 billion economic output.
Low Ownership Overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach.
Prime Retro Row Location: Steps from the Pacific Ocean and Bluff Park in a highly coveted walkable neighborhood.
$2.37M Tax Benefit: The accelerated depreciation via cost segregation is a massive financial incentive.
100% New Major Systems: All-new plumbing, electrical, and mechanical infrastructure mitigates the risk of hidden defects.
Turn-Key Operations: Fully leased with a high-credit tenant base, providing immediate stable cash flow.
Premium Unit Features: In-unit laundry and luxury quartz/designer finishes command top-of-market rents.
Strong Financials: A 5% Cap Rate at a $512/SF price point is below replacement cost.
Appreciation Catalyst: Significant upside potential tied to the 2028 Olympics and the city's $9 billion economic output.
Low Ownership Overhead: Rooftop solar, separate meters, and drought-tolerant landscaping reduce operational costs.
Rare Parking/Storage: Includes 7 garage spaces and storage lockers, which are high-demand luxuries in Long Beach.
Prime Retro Row Location: Steps from the Pacific Ocean and Bluff Park in a highly coveted walkable neighborhood.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$743,780
|
$49.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$29,751
|
$1.96
|
| Effective Gross Income |
$714,029
|
$47.07
|
| Taxes |
$131,957
|
$8.70
|
| Operating Expenses |
$52,988
|
$3.49
|
| Total Expenses |
$184,945
|
$12.19
|
| Net Operating Income |
$529,085
|
$34.88
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $743,780 |
| Annual Per SF | $49.04 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $29,751 |
| Annual Per SF | $1.96 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $714,029 |
| Annual Per SF | $47.07 |
| Taxes (CAD) | |
|---|---|
| Annual | $131,957 |
| Annual Per SF | $8.70 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $52,988 |
| Annual Per SF | $3.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $184,945 |
| Annual Per SF | $12.19 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $529,085 |
| Annual Per SF | $34.88 |
Property Facts
| Price | $10,640,706 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $560,037 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5% | Building Size | 15,168 SF |
| Gross Rent Multiplier | 14.67 | Average Occupancy | 100% |
| No. Units | 19 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1928/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Zoning | CNR, Long Beach | ||
| Price | $10,640,706 CAD |
| Price Per Unit | $560,037 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 14.67 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 15,168 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1928/2025 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | CNR, Long Beach |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Breakfast Nook
- Den
- Dining Room
- Double Pane Windows
- Family Room
- Freezer
- Porch
Site Amenities
- 24 Hour Access
- Controlled Access
- Property Manager on Site
- Tenant Controlled HVAC
- Storage Space
- Bicycle Storage
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | $2,863 CAD | 524 |
| 1+1 | 4 | $3,488 CAD | 875 |
| 2+1 | 3 | $4,093 CAD | 850 - 1,150 |
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7266-026-036 | Total Assessment | $5,649,917 CAD (2025) |
| Land Assessment | $2,908,580 CAD (2025) | Annual Taxes | $131,957 CAD ($8.70 CAD/SF) |
| Improvements Assessment | $2,741,337 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
7266-026-036
Land Assessment
$2,908,580 CAD (2025)
Improvements Assessment
$2,741,337 CAD (2025)
Total Assessment
$5,649,917 CAD (2025)
Annual Taxes
$131,957 CAD ($8.70 CAD/SF)
Tax Year
2026
Contact
-
Matthew Firth -
Terrace Property Management INC
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