925 E 5th St
Priced at 12.47 GRM/5.31% Cap Rate in Prime Alamitos Beach
11 of 12 Units are Remodeled with In-Unit Washer/Dryer
Excellent Mix of One- and Two-Bedroom Units
Six (6) Garages with ADU Conversion Potential
All-Electric Building; Separately Metered
Historically High Tenant Retention
Property Description
925 E. 5th Street is a 12-unit apartment property located in Prime Alamitos Beach. The all-electric building features four (4) 2BD / 2BA units; two (2) 2BD / 1BA units; and six (6) 1BD / 1BA units. Eleven (11) of the units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All remodeled units feature inunit washers and dryers. There are six (6) garages that offer the opportunity for ADU conversion for additional rental income. The building has a historically high tenant retention rate, due to its location in highly desirable Alamitos Beach. The property boasts a Walk Score of 93 and a Bike Score of 92, providing excellent accessibility to a plethora of dining, shopping and lifestyle amenities.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Garden Style |
| Price: | $3,400,000 |
| No. of Units: | 12 |
| Cap Rate: | 5.31% |
| GRM /GIM: | 12.47 |
| Year Built: | 1963 |
| Building Size: | 8,060 Sq ft |
| Lot Size: | 7,144.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $283,333 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|
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