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Belmont Heights Prime Location! 4018-4022 E Vermont St 3 Unit Apartment Building $2,303,268 CAD ($767,756 CAD/Unit) 3.20% Cap Rate Long Beach, CA 90814
INVESTMENT HIGHLIGHTS
- Excellent curb appeal and location in Belmont Heights
- (1) 3 bed + 3 bath unit, (1) 1 bed + 1 Bath unit and (1) detached 2 bed + 1.5 bath house
- Perfect for investor or for buyer to live in one unit and collect rent from the other two
- Walking distance to both 2nd Street, the beach and Belmont Pier
- Detached house will be delivered vacant at close of escrow
EXECUTIVE SUMMARY
4018-4022 E Vermont St represents the opportunity to acquire a rare legacy asset in an excellent Belmont Heights submarket. This well-maintained 3-unit multifamily property is positioned in a prime location right on the border of the affluent communities of Belmont Heights and Belmont Shores. Built in 1922, the building boasts an impressive 3,096 rentable square feet and is situated on a large 6,749 square foot lot.
In addition to the location, the property has a few characteristics that make it unique. The unit mix comprises of (1) 3 bed + 3 bath unit, (1) 1 bed + 1 bath unit and a 2 bed + 1.5 bath detached house. There is a garage and ample parking on the driveway. Two of the three units are rented to long term tenants. The third unit which is a detached home will be delivered vacant at close of escrow providing flexibility for a buyer to either immediately move in or rent it for top of market rent. There is large yard between the front and back building and the home in the back also has access to a private fenced yard making it perfect for pets or small children.
In addition to the location, the property has a few characteristics that make it unique. The unit mix comprises of (1) 3 bed + 3 bath unit, (1) 1 bed + 1 bath unit and a 2 bed + 1.5 bath detached house. There is a garage and ample parking on the driveway. Two of the three units are rented to long term tenants. The third unit which is a detached home will be delivered vacant at close of escrow providing flexibility for a buyer to either immediately move in or rent it for top of market rent. There is large yard between the front and back building and the home in the back also has access to a private fenced yard making it perfect for pets or small children.
PROPERTY FACTS
| Price | $2,303,268 CAD | Building Class | C |
| Price Per Unit | $767,756 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 3,096 SF |
| Cap Rate | 3.20% | Average Occupancy | 66% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | LBR1N - Single Family Residential Standard Lot | ||
| Price | $2,303,268 CAD |
| Price Per Unit | $767,756 CAD |
| Sale Type | Investment |
| Cap Rate | 3.20% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,096 SF |
| Average Occupancy | 66% |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | LBR1N - Single Family Residential Standard Lot |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Family Room
- Patio
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $2,390 CAD | - |
| 2+1.5 | 1 | $3,839 CAD | - |
| 3+2 | 1 | $3,978 CAD | - |
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Walker's Paradise (92)
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Belmont Heights Prime Location! | 4018-4022 E Vermont St
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