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737 E 5th St 14 Unit Apartment Building $5,672,555 CAD ($405,183 CAD/Unit) 6.60% Cap Rate Long Beach, CA 90802
Investment Highlights
- Very Well Maintained
- Mostly 2 Bedroom Units
- Garage Parking
- Upgraded Electrical Panel | New Roof | New Windows | Copper Plumbed
- Long term Tenants
Executive Summary
Lee & Associates is pleased to present a very well maintained 14-unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one-bedroom
units, 4 two-bedroom/one bath units, and 6 two-bedroom/two bath units. Current ownership has taken extremely good care of this buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turnkey asset for a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover. Separately metered for Gas & Electricity.
units, 4 two-bedroom/one bath units, and 6 two-bedroom/two bath units. Current ownership has taken extremely good care of this buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turnkey asset for a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover. Separately metered for Gas & Electricity.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$537,094
|
$43.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$16,113
|
$1.30
|
| Effective Gross Income |
$520,981
|
$41.97
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$146,641
|
$11.81
|
| Net Operating Income |
$374,340
|
$30.16
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $537,094 |
| Annual Per SF | $43.27 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $16,113 |
| Annual Per SF | $1.30 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $520,981 |
| Annual Per SF | $41.97 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $146,641 |
| Annual Per SF | $11.81 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $374,340 |
| Annual Per SF | $30.16 |
Property Facts Under Contract
| Price | $5,672,555 CAD | Building Class | C |
| Price Per Unit | $405,183 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 12,412 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.56 | No. Stories | 3 |
| No. Units | 14 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4 | ||
| Price | $5,672,555 CAD |
| Price Per Unit | $405,183 CAD |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| Gross Rent Multiplier | 10.56 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,412 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
Amenities
Site Amenities
- Laundry Facilities
- Security System
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 750 |
| 2+2 | 6 | - | 650 |
| 2+1 | 4 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7281-003-019 | Improvements Assessment | $1,042,387 CAD |
| Land Assessment | $416,947 CAD | Total Assessment | $1,459,334 CAD |
Property Taxes
Parcel Number
7281-003-019
Land Assessment
$416,947 CAD
Improvements Assessment
$1,042,387 CAD
Total Assessment
$1,459,334 CAD
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737 E 5th St
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