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515 West 3rd Street
Long Beach, CA 66441-3133
Asking Price
$5.60M
Cap Rate
4.79%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
Multifamily | 29 Units | $193,103/unit <ul><li>Seller-carried first note at 75% loan-to-value, 4% fixed interest, interest-only payments for a five-year term, supporting 7% plus cash-on-cash returns (with stabilized occupancy) and reducing acquisition costs in a high-rate environment</li><li>Entire first floor rebuilt to the studs, with new sewer lines, new plumbing on the first and second floors, updated electrical, a new roof, and new windows</li><li>First-floor units are equipped with central HVAC, uncommon for comparable workf
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NOI
$80,000
Cap Rate
1.43%
DSCR
0.24
Underwater
Cash-on-Cash
-15.03%
Monthly Payment
$27,705.745
Annual Cash Flow
$-252,468.934
