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11032 Atlantic Ave 6 Unit Apartment Building $1,140,000 ($190,000/Unit) 6.02% Cap Rate Lynwood, CA 90262
INVESTMENT HIGHLIGHTS
- STRONG RENTAL LOCATION
- DETACHED GARAGE PARKING - 6 SPACES
- SUBJECT TO AB-1482 ONLY; NO LOCAL RENT CONTROL
- INDIVIDUALLY METERED FOR GAS & ELECTRICITY
- RENTAL UPSIDE
- ABOVE AVERAGE CONDITION
EXECUTIVE SUMMARY
The subject is a two-story, wood frame and stucco, building that was built in 1960. The building sits on 6,347 square feet of land and contains 3,000 square feet. The unit mix consists of six 1-bedroom / 1-bath units. All the units are individually metered for gas and electricity. Parking consists of six garages in a separate building accessed from an alley that runs along the easterly property line. There is no tuck-under parking. The property is in above average condition for its age and market. There is no local rent control in Lynwood and the property is subject to AB-1482. Please do not contact the tenants. Contact the listing agents for full details.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$116,040
|
$17.88
|
| Other Income |
$4,800
|
$0.74
|
| Vacancy Loss |
$4,642
|
$0.72
|
| Effective Gross Income |
$116,198
|
$17.91
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$47,516
|
$7.32
|
| Net Operating Income |
$68,682
|
$10.58
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $116,040 |
| Annual Per SF | $17.88 |
| Other Income | |
|---|---|
| Annual | $4,800 |
| Annual Per SF | $0.74 |
| Vacancy Loss | |
|---|---|
| Annual | $4,642 |
| Annual Per SF | $0.72 |
| Effective Gross Income | |
|---|---|
| Annual | $116,198 |
| Annual Per SF | $17.91 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $47,516 |
| Annual Per SF | $7.32 |
| Net Operating Income | |
|---|---|
| Annual | $68,682 |
| Annual Per SF | $10.58 |
PROPERTY FACTS Under Contract
| Price | $1,140,000 | Apartment Style | Low-Rise |
| Price Per Unit | $190,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.02% | Building Size | 6,489 SF |
| Gross Rent Multiplier | 9.43 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | ||
| Zoning | C3 | ||
| Price | $1,140,000 |
| Price Per Unit | $190,000 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| Gross Rent Multiplier | 9.43 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,489 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Zoning | C3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Walk-Up
1 of 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 6194-011-003 | Improvements Assessment | $73,030 |
| Land Assessment | $33,501 | Total Assessment | $106,531 |
PROPERTY TAXES
Parcel Number
6194-011-003
Land Assessment
$33,501
Improvements Assessment
$73,030
Total Assessment
$106,531
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11032 Atlantic Ave
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