mixed use 4units -alamitos beach for sale...1535 e. 4 th st., long beach, ca 90802 mixed use 4units...
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1535 E. 4th St., Long Beach, CA 90802
Mixed Use 4 Units - Alamitos Beach FOR SALE
NRT
Greg Trotter | [email protected]
BRE License No. 00978695
Direct 818-205-2052 Main 818-995-2424
Fax 818-995-1976 Cell 310-344-4900
FOR MORE DETAILS CONTACT:
15490 Ventura Blvd., Suite 100
Sherman Oaks, CA 91403
CBCWorldwide.com Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks
licensed to Coldwell Banker Real Estate LLC. Each Office is Independently Owned and Operated.
PROPERTY OVERVIEW DETAILS
PRICE: $995,000
GLA/SF: 2,841
PRICE/SF: $351.81
CAP RATE: 3.75%
YEAR BUILT: 1909
OCCUPANCY: 100%
Located in the up and coming Alamitos
Beach area the property includes a
commercial space leased to Jerry’s
Place. A popular American / Mexican
breakfast and lunch place.
In the rear there are three residential units
with 5 garage spaces.
Coldwell Banker Commercial NRT (CBC) is not affiliated with, sponsored by, or endorsed by any
commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo
or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said
corporation of CBC, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of
CBC, and is solely included for the purpose of providing tenant lessee information about this listing to
prospective customers.
CBC is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in
this marketing package. The presence of any corporation’s logo or name is not intended to indicate or
imply affiliation with, or sponsorship or endorsement by, said corporation of CBC, its affiliates or
subsidiaries, or any agent, product, service, or commercial listing of CBC, and is solely included for the
purpose of providing tenant lessee information about this listing to prospective customers.
NON-ENDORSEMENT NOTICE
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from CBC and should not be made available to any
other person or entity without the written consent of CBC. This Marketing Brochure has been prepared to
provide summary, unverified information to prospective purchasers, and to establish only a preliminary
level of interest in the subject property. The information contained herein is not a substitute for a
thorough due diligence investigation. CBC has not made any investigation, and makes no warranty or
representation, with respect to the income or expenses for the subject property, the future projected
financial performance of the property, the size and square footage of the property and improvements,
the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State
and Federal regulations, the physical condition of the improvements thereon, or the financial condition or
business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the
subject property. The information contained in this Marketing Brochure has been obtained from sources
we believe to be reliable; however, CBC has not verified, and will not verify, any of the information
contained herein, nor has CBC conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information
provided. All potential buyers must take appropriate measures to verify all of the information set forth
herein.
EXCLUSIVELY LISTED BY:
Greg TrotterDirector - Commercial Exchange Group
Coldwell Banker Commercial NRT
15490 Ventura Blvd., Suite 100
Sherman Oaks, CA 91403
O: 818.205.2052 | M: 310.344.4900
CalBRE No. 00978695 | [email protected]
Mixed Use - Four Units - Long Beach/Alamitos Beach
Confidentiality and Disclaimer
Type: Neighborhood Mixed Use
1535 E. 4th St.
City, State: Long Beach, CA 90802
Submarket: North Alamitos Beach
County: Los Angeles
Cross Streets: 4th St. and Walnut Ave.
Building SF: +/- 2,841
Lot Size SF: +/- 7,532
Units: 3 Residential & 1 Commercial
Buildings: 3
Year Built: 1909
Zoning: LBCNR
Ownership: Fee Simple
Parking Spaces: 5 (5 Garage)
APN: 7266-018-025
Current Occupancy: 100.00%
Property Information
Mixed Use - Four Units - Long Beach/Alamitos Beach
Address:
♦ Walk Score - Very Walkable (88)
♦ Transit Score - Good Transit (56)
♦ Located on Retro Row
♦ Located Near Areas of Urban Redevelopment
♦ Located Near Areas of Major Attractions
♦ Good Upside Rent Potential on Residential Units
♦ Ease of Management
♦ Close to Neighborhood Schools and Parks
♦ Good Traffic Counts
♦ Separately Metered for Gas and Electric
Mixed Use - Four Units - Long Beach/Alamitos Beach
Highlights
Price: 999,500$
Price per SF: 351.81$
Cap Rate: 3.75%
GRM: 17.95
Scheduled Rental Income 54,768$
Other - Garage 900$
Gross Potential Income 55,668$
Vacancy - Actual 3.00% (1,670)$
Effective Gross Income 53,998$
Property Taxes 11,994$
Insurance 1,895$
Utilities - Water 1,560$
Utilities - Electric Tenant Paid -$
Utilities - Gas Tenant Paid -$
Gardening 360$
Trash Removal Tenant Paid -$
Maintenance & Repairs 750$
Total Operating Expenses * 29.75% 16,559$
Net Operating Income 37,439$
* Commercial tenant pays all utilities for building and repairs including roof, AC, and parking lot.
Mixed Use - Four Units - Long Beach/Alamitos Beach
Offering Summary
Operating Data
Address Tenant Unit Type Garage Current Market
1537 Jerry's Place* Commercial 75$ 1,764$ 1,800$
1535 2 Bd + 1 Ba -$ 1,300$ 1,950$
1535 Studio + 3/4 Ba -$ 525$ 725$
1535 1/2 1 Bd + 1 Ba -$ 975$ 1,650$
75$ 4,564$ 6,125$
900$ 54,768$ 73,500$
* Lease expires 10/01/21. There are 5.00% annual rent increases.
Mixed Use - Four Units - Long Beach/Alamitos Beach
Unit Mix Information - Monthly Rent
Mixed Use - Four Units - Long Beach/Alamitos Beach
1 Mi 3 Mi
Population 82,519 257,807
Households 33,024 97,672
Average Age 25.40 25.60
Median Household Income 44,381$ 49,867$
Daytime Employees 11,240 100,178
Population Growth Increase 2017 - 2022 2.10% 1.80%
Household Growth Increase 2017 - 2022 2.10% 1.80%
Source: CoStar
Collection Street Cross Street Traffic Volume Year Distance
Rose Ave. E. 4th St. S. 13,500 2016 0.14 mi
E. 7th St. Rose Ave. W. 32,100 2016 0.27 mi
E. Broadway Esperanza Ave. E. 15,900 2016 0.34 mi
E. 7th St. Dawson Ave. E. 33,000 2016 0.42 mi
Source: TrafficMetrix
Traffic Count
Mixed Use - Four Units - Long Beach/Alamitos Beach
Demographics
Outstanding opportunity to own a neighborhood mixed use property on Retro Row (4th St.). This up
and coming Alamitos Beach area has many retro shops and restaurants. It is close to the
redeveloped downtown Long Beach, area beaches and over 100 miles of bike trails. There is also
a local bike sharing program sponsored by the city.
The property consists of three residential units and one commercial tenant. The residential units
consist of a 1 bedroom + 1 bath house, a 2 bedroom + 1 bath house with an attached studio + 3/4
bath apartment. The studio could possibly be combined with the house for a 3 bedroom + 1 3/4
bath house.
The commercial building is occupied by Jerry's Breakfast Place. This popular neighborhood spot
features American/Mexican style breakfast and lunch. There is an outdoor rear patio and front
street seating as well. It is open seven days a week.
Mixed Use - Four Units - Long Beach/Alamitos Beach
Aerial
Property Description
San Pedro is America's #1 container port and accommodates over $300B of cargo annually.
The Ports of Call Village is undergoing a $100M redevelopment that when completed in 2020
will include 16 acres of restaurants, fresh markets, retail shops and office. After completion
an additional 15 acres of mixed use is planed.
Other Attractions include:
San Pedro Fish Market
Catalina Express
San Pedro Red Trolley
Battleship Iowa
Long Beach is California's seventh-largest city and Southern California's latest coastal
destination. It is the second largest city in the Greater Los Angeles Area.
Attractions include:
Redeveloped Downtown
Queen Mary
Aquarium of the Pacific
Three Marina's
Belmont Shore
Naples
The Pike
Long Beach Convention Center
Shoreline Village
Long Beach Grand Prix
Long Beach
Mixed Use - Four Units - Long Beach/Alamitos Beach
San Pedro
Mixed Use - Four Units - Long Beach/Alamitos Beach
Area Map
Street Map
Mixed Use - Four Units - Long Beach/Alamitos Beach
Plat Map
Mixed Use - Four Units - Long Beach/Alamitos Beach