Investment Highlights
Beautiful ocean views!
Huge upside in rental Income!
Only steps from the ocean!
Executive Summary
Pride of Ownership, Ten Unit, Trophy Property! Located within the highly sought after community of Belmont Shore, merely footsteps from the sand. 19 Granada is a picturesque 1930’s building, featuring all classic characteristics and qualities of early 20th century architecture – boasting magnificent high ceilings, built in cabinetry, large open floor plans with an abundance of natural light. Embodying a highly desirable unit blend; Six large 1 bedroom x 1 bathroom units along with Four large studios. The asset is separately metered for gas and electric and has its own large laundry room. Upper front units have beautiful heavily arched windows and ocean views. Consequently, all 10 units are in incredibly high demand, due to the buildings design, unit floor plans and proximity to the Ocean. Not only mere steps from the sand but just a short stroll to “2nd street”, which houses most of Long Beaches best fashion stores, restaurants, bars and coffee shops. Perfect building for the sophisticated investor looking for a prime asset in an A+ location.
Financial Summary
| Detail | Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income | 230,520 | $32.10 |
| Other Income | $9,360 | $1.30 |
| Vacancy Loss | $4,610 | $0.64 |
| Effective Gross Income | $235,270 | $32.76 |
| Taxes | $52,800 | $7.35 |
| Operating Expenses | $27,239 | $3.79 |
| Total Expenses | $80,039 | $11.14 |
| Net Operating Income | $155,231 | $21.61 |
Property
Information
1931
Investment, Multifamily, Apartment
