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321 W Hill St - The Hill Street Apartments in Wrigley 6 Unit Apartment Building Offered at $2,430,585 CAD at a 5.64% Cap Rate Long Beach, CA 90806
Investment Highlights
- Restored 1930s Spanish Revival property in Historic South Wrigley
- Red Spanish Tile Roof, Gated Courtyard, and Garages
- (4) 2 Bedroom / 1 Bath Units (1,000 Sq. Ft.) & (2) 1 Bedroom / 1 Bath (752 Sq. Ft.)
- ADU Potential
Executive Summary
Beautifully restored 1930s Spanish Revival property in the Historic South Wrigley Neighborhood. It feels like stepping back in time, where the craftsmanship and charm of the 1930s, nearly impossible to recreate at today’s cost, meets modern day living. The property features a strong unit mix of four two bedroom one bath units at approximately 1,000 square feet each and two one bedroom one bath units at approximately 752 square feet each, all offering exceptionally spacious layouts rarely found today. Classic details including red tile roofing, a gated courtyard, and mature landscaping create strong curb appeal. Recent upgrades include new electrical sub panels and copper plumbing, along with on site laundry and garage parking. The rear garage and parking area also offer potential for ADU development, buyer to verify, providing additional upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,430,585 CAD | Lot Size | 0.15 AC |
| Price Per Unit | $405,098 CAD | Building Size | 5,504 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.64% | No. Stories | 2 |
| Gross Rent Multiplier | 12.05 | Year Built | 1932 |
| No. Units | 6 | Parking Ratio | 0.91/1,000 SF |
| Property Type | Multifamily | ||
| Zoning | LBR1N | ||
| Price | $2,430,585 CAD |
| Price Per Unit | $405,098 CAD |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 12.05 |
| No. Units | 6 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 5,504 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1932 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | LBR1N |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 752 |
| 2+1 | 4 | - | 1,000 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7205-022-012 | Improvements Assessment | $1,424,455 CAD |
| Land Assessment | $749,714 CAD | Total Assessment | $2,174,169 CAD |
Property Taxes
Parcel Number
7205-022-012
Land Assessment
$749,714 CAD
Improvements Assessment
$1,424,455 CAD
Total Assessment
$2,174,169 CAD
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321 W Hill St - The Hill Street Apartments in Wrigley
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