4130 10th St Long Beach, CA 90804-5440
- Apartment buildings
- 3,480 SF
- 0.13 lot acres
Jul 30, 2021
Current Use by Public Records
- Apartment buildings
Property Details for 4130 10th St
- Year built
- 1953
- Construction
- WOOD
- Lot size
- 0.13 lot acres
- Property size
- 3,480 SF
- Zone code
- LBR3S
- Property type
- Apartment buildings
- APN
- 7254-019-001
- APU
- 7254019001
Description
This 10-unit apartment building in Long Beach, California, presents a compelling investment opportunity. Located in a quiet neighborhood near Belmont Heights, the property boasts six renovated studio units featuring new flooring, updated kitchens with stainless steel appliances, and updated bathrooms. The remaining four units offer a value-add opportunity for a new owner to increase profitability through renovations. Eight surface parking spaces in an adjacent lot provide additional income potential, and there's potential to further develop this area. On-site laundry adds to the current income stream. The building is master-metered for gas and electricity and has an in-place RUBS program. Its proximity to Recreation Park Golf Course, Colorado Lagoon, and California State University Long Beach (with its 37,500 students and 2,000 faculty) ensures strong occupancy and rental demand. The asking price is $2,695,000, representing $269,500 per unit and a 4.00% cap rate. Built in 1953, this property offers a strong in-place cash flow with significant upside potential. The property is located at 4130 E. 10th Street, Long Beach, CA 90804.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,560,000
- ML approach
- $1,555,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,110,000
- 6.5%
- $1,025,000
- 7%
- $950,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,408,000
Market price range: $671k - $1.41M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,090,000 Current use
- MEDICAL BUILDING
- $2,380,000 Change: +118% Conversion: Moderate
- NEIGHBORHOOD: SHOPPING CENTER
- $2,055,000 Change: +89% Conversion: Difficult
- OFFICE BUILDING
- $1,230,000 Change: +13% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,100,000 Change: +1% Conversion: Difficult
- WAREHOUSE, STORAGE
- $965,000 Change: -11% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.144
- Latitude
- 33.7788
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA