sara’s apartments · 2017-02-08 · 31.9 32.4 33.6 demographic and income profile 1347 e 3rd st,...

SARA’S APARTMENTS240 West 7th Street

Long Beach, CA 90813

MULTI-FAMILY INVESTMENTS

George BustamanteVice President

Mobile: (714) [email protected]

BRE# 01484265

Becky Blair, CCIMPresident & Principal


BRE# 00630793

INVESTMENT SUMMARY

SARA’S APARTMENTS240 West 7th StreetLong Beach, CA 90813

Fo r m o re i n fo r m at i o n p l e a s e c o n t a c t :

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# 01330395.


Mobile: (714) 856-7017Email: [email protected]

BRE# 01484265

S a l e P r i c e : $ 3 , 2 0 0,0 0 0S a l e P r i c e /S F: $ 2 0 4 .4 7S a l e P r i c e / U n i t : $ 11 0, 3 4 5R e n t a b l e S F: 1 5 ,6 9 0 S F Lo t S i ze S F: 1 5 ,0 0 2 S FU n i t s : 2 9F l o o r s : 2G a ra g e s : 1 4C a p R at e : 1 .4 5 %I R R : 9 .1 4%G ro s s R e n t M u l t i p l y e r : 1 4 . 7Ye a r B u i l t : 1 9 5 7A P N : 7 2 7 2 - 0 2 1 - 0 0 3

Sara’s Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a guaranteed cash flow for 7 years with a potential “master-lease” in place and long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units.

The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue.

As of 2/7/17


Mobile: (562) 301-4515 Email: [email protected]

BRE# 00630793

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6th St.

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PARCEL MAP & AERIAL240 WEST 7TH STREET


© 2017 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

As of 2/7/17



BRE# 01484265



BRE# 00630793

240 WEST 7TH STREET - DEMOGRAPHICS

1 Mile 3 Miles 5 Miles

Popula t ion 60,570 241,501 430,697

Popula t ion growth 0.74% 0.72% 0.62%

# of Households 22,461 85,551 149,967

Average Household Income $53,653 $62,289 $74,647

Median Age 31.9 32.4 33.6

Demographic and Income Profile1347 E 3rd St, Long Beach, California, 90802 2 Prepared by Esri1347 E 3rd St, Long Beach, California, 90802 Latitude: 33.76992Ring: 1 mile radius Longitude: -118.17442

Summary Census 2010 2015 2020Population 67,767 69,327 71,171Households 28,035 28,691 29,529Families 12,547 12,902 13,327Average Household Size 2.37 2.37 2.36Owner Occupied Housing Units 5,631 5,291 5,347Renter Occupied Housing Units 22,404 23,400 24,182Median Age 32.2 33.4 34.1

Trends: 2015 - 2020 Annual Rate Area State NationalPopulation 0.53% 0.73% 0.75%Households 0.58% 0.74% 0.77%Families 0.65% 0.76% 0.69%Owner HHs 0.21% 0.61% 0.70%Median Household Income 2.70% 3.36% 2.66%

2015 2020 Households by Income Number Percent Number Percent

<$15,000 5,888 20.5% 5,857 19.8%$15,000 - $24,999 3,605 12.6% 2,822 9.6%$25,000 - $34,999 3,599 12.5% 3,136 10.6%$35,000 - $49,999 4,556 15.9% 4,535 15.4%$50,000 - $74,999 4,421 15.4% 4,738 16.0%$75,000 - $99,999 2,817 9.8% 3,856 13.1%$100,000 - $149,999 2,215 7.7% 2,603 8.8%$150,000 - $199,999 1,008 3.5% 1,233 4.2%$200,000+ 582 2.0% 748 2.5%

Median Household Income $38,162 $43,596Average Household Income $53,989 $62,028Per Capita Income $22,667 $26,028

Census 2010 2015 2020 Population by Age Number Percent Number Percent Number Percent

0 - 4 4,577 6.8% 4,599 6.6% 4,841 6.8%5 - 9 3,964 5.8% 4,054 5.8% 4,051 5.7%10 - 14 3,978 5.9% 3,651 5.3% 3,650 5.1%15 - 19 4,670 6.9% 4,142 6.0% 3,477 4.9%20 - 24 6,311 9.3% 6,489 9.4% 5,851 8.2%25 - 34 13,998 20.7% 13,935 20.1% 14,986 21.1%35 - 44 10,629 15.7% 10,530 15.2% 11,038 15.5%45 - 54 8,949 13.2% 9,318 13.4% 8,919 12.5%55 - 64 5,908 8.7% 6,700 9.7% 7,427 10.4%65 - 74 2,788 4.1% 3,764 5.4% 4,448 6.2%75 - 84 1,336 2.0% 1,505 2.2% 1,829 2.6%

85+ 659 1.0% 640 0.9% 654 0.9%Census 2010 2015 2020

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 30,856 45.5% 30,844 44.5% 31,267 43.9%Black Alone 9,767 14.4% 9,693 14.0% 9,577 13.5%American Indian Alone 686 1.0% 712 1.0% 732 1.0%Asian Alone 7,456 11.0% 7,904 11.4% 8,453 11.9%Pacific Islander Alone 344 0.5% 358 0.5% 370 0.5%Some Other Race Alone 14,960 22.1% 15,831 22.8% 16,566 23.3%Two or More Races 3,698 5.5% 3,984 5.7% 4,205 5.9%

Hispanic Origin (Any Race) 30,550 45.1% 32,263 46.5% 34,189 48.0%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020.

April 05, 2016

©2015 Esri Page 1 of 6



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As of 2/7/17



SARA’S APARTMENTS240 West 7th StreetLong Beach, CA 90813

Local DescriptionDowntown Long Beach has a relatively compact geographic footprint located atop a bluff overlooking the Pacific Ocean. It is also home to the Port of Long Beach that provides 326,000 jobs regionally and along with the neighboring LA Port brings in 40% of all of the imports for the U.S.

In 2013, the city of Long Beach implemented a Downtown Plan. The plan provided for higher residential and mixed use density, relaxed parking requirements, height incentive areas, and adaptive re-use incentives. Today, three years after the Downtown Plan became a reality major changes have occurred. The city has a new county courthouse, the first P3 project for a Courthouse in the United States. Development and reuse of existing buildings are taking place on almost every major corridor within the downtown boundaries and recently the City announced its newest project, a new Civic Center and new Library. For further information, see the City of Long Beach Downtown Plan.

City of Long BeachAs a Pacific Rim City, Long Beach has many influences economically and culturally. Long Beach has a population of 460,000 people within a 50 square mile radius. The Long Beach Blue l ine offers public transportation from Long Beach to downtown Los Angeles. The city is also home to Jet Blue airl ines offering daily fl ights to New York, Seattle and other popular destinations. Long Beach offers higher education through its two junior college campuses and California State University Long Beach with over 37,000 students enrolled. Downtown is the heart of the city with all of its famous restaurants, and a growing population of residents who to l ive in a walkable and bike friendly area with shopping, entertainment, f ine dining, and special events all within walking distance to quality housing.

As of 2/7/17

As of 1/26/17



BRE# 01484265



BRE# 00630793

710

The Pike Outlet Marketplace

Anaheim Station

6th StreetStation

City Place shopping Center 6th Street & Long Beach Blvd. Retail

Long Beach Blvd Retail Corridor

6th Street

7th Street

Subject Property

6th

Str

eet

Cedar Avenue7th Street

710

240 West 7th Streetlong beach, CA 90813

LOCAL FREEWAY ACCESS240 WEST 7TH STREET

As of 2/7/17



BRE# 01484265



BRE# 00630793

110 91

405

710

RIVERSIDECOUNTY

SAN BERNARDINOCOUNTY

LOS ANGELES COUNTY

VENTURACOUNTY

COUNTYSAN LUIS OBISPO

COUNTYSANTA BARBARA

ORANGECOUNTY

SAN DIEGOCOUNTY

WESTSIDE

Los

Ange

les

Rive

r

Los Angeles River

PACIFIC OCEAN

CRENSHAW/

PURPLE LINE EXTENSION

REGIONAL CONNECTOR

LAX LINE

LAX

Little To

kyo/

Little To

kyo/

Arts Dist

Burbank/B

ob Hope

Airport

Van Nuys

Northrid

ge

Simi V

alley

Moorpark

Camarillo

Oxnard

Ventura - East

Sun Valley

Sylmar/San Fernando

Newhall

Santa Clarita

Via Princessa

Vincent Grade/Acton

Palmdale

Lancaster

Antelope Valley Line

Amtrak Pacific Surfliner

San Bernardino Line

Riverside Line

91/Perris Valley Line

Inland Empire -Orange County Line

Ventura County Line


Orange County Line


Ventura

Carpinteria

Santa Barbara

Goleta

Surf

Guadalupe

Grover Beach

San Luis Obispo

Burbank - Downtown

Glendale

El Monte

Baldwin Park

CovinaPomona - N

orth

Claremont

Montclair

Upland

Rancho Cuca

monga

Fontana

RialtoSan Bern

ardino

Industry

Pomona - Downtown

Ontario - E

ast

Jurupa Valle

y/Pedley

Commerce

Norwalk/Santa Fe Springs

Buena Park

Corona - North Main

Riverside - Downtown

Riverside - Hunter Park/UCR

Moreno Valley/March Field

Perris - Downtown

Perris - South

Anaheim Canyon

Riverside - La Sierra

Corona - West

Fullerton

Anaheim

Orange

Santa Ana

Irvine

San Juan Capistrano

San Clemente

San Clemente Pier

Oceanside

Carlsbad

Tustin

Laguna Niguel/Mission Viejo

Encinita

s

Solana Beach

Sorrento Valle

y

Old Town

San Diego

BUR

Montebello/Commerce

Universal C

ity/Studio City

Hollywood/V

ine

Hollywood/H

ighland

Universal C

ity/Studio City

Balboa

Canoga

De Soto

Pierce Colle

ge

Tampa

Reseda

Civic Ctr/

Civic Ctr/

Civic Ctr/

Civic Ctr/

GrandGrandGrandGrand

ParkParkParkPark

Westlake/M

acArthur P

ark

Warner Ctr

Roscoe

Pico/Alis

o

Mariach

i Plaza

Long Beach Bl

Artesia

Del Amo

Civic Ctr/

GrandPark

Allen

LakeSierra

Madre Villa

Arcadia

Monrovia

Duarte/City

of Hope

Irwindale

Azusa Downtown

APU/Citrus Colle

ge

Lincoln/Cypress

Heritage Sq

Southwest Museum

Highland Park

Fillmore

Del Mar

Memorial Park

South Pasadena

Westlake/M

acArthur P

ark

Wilshire

/Vermont

Pershing

Chinatown

Union Station

Chinatown

Square

7th St/Metro CtrPico

LATTC/OrthoInstitute

Jefferson/U

SC

Union Station

LAX FlyAwayAmtrak & MetrolinkLAX FlyAway

LAX Shuttle G

Amtrak & MetrolinkMetro

link

Sherman Way

Warner Ctr

Roscoe

Nordhoff

Chatsworth

Hollywood/W

estern

Vermont/S

anta MonicaHolly

wood/Western

Hollywood/V

ine

Hollywood/H

ighlandNorth

Hollywood

Balboa

Woodley

Sepulveda

Van Nuys

Sepulveda

Van Nuys

Woodman

Valley Colle

ge

Laurel Canyo

n

Canoga

De Soto

Pierce Colle

ge

Tampa

Reseda

Vermont/B

everly

Vermont/S

anta Monica

Vermont/S

unset

Vermont/S

unset

Amtrak & Metrolink

Soto

Indiana

Maravilla

East LA Civic C

tr

Atlantic

El Monte

Cal State LA

LAC+USC Medica

l Ctr

Pico/Alis

o

Mariach

i Plaza

Wilshire

/

Normandie

Wilshire

/Western

ExpoPark

/USC

Expo/Vermont

Expo/Western

Expo/Crenshaw

Farmdale

Expo/La Brea

La Cienega/Jefferson

Culver C

ity

Palms

Westwood/R

ancho Park

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

17th St/S

MC

Downtown Santa Monica

Mariposa

El Segundo

Douglas

Redondo Beach

37th St/USC

Rosecrans

Harbor

Carson

Pacific CoastHwy

GatewayTransit Ctr

Long Beach Bl

AvalonVerm

ont/

AthensCrenshaw

Hawthorne/Lennox

Aviation/L

AX

Lakewood Bl

Norwalk

Norwalk

Slauson

Manchester

Harbor F

wy

5th St

1st St

PacificAv

DowntownLong Beach

PacificAv

Washington

Vernon

Slauson

Florence

Firestone

Compton

Artesia

Del Amo

Wardlow

Willow St

Pacific Coast Hwy

Anaheim St

103rd St/

Willowbrook/Rosa Parks

Watts Towers 103rd St/


DowntownLong Beach

Grand/LATTC

San Pedro St

Watts Towers

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

WESTSIDE

CENTRAL LA

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

CENTRAL LA

Metro & Regional Railmetro.net

amtrak.commetrolinktrains.com

17-0

898

©20

16 L

ACM

TA


San Bernardino Line

Riverside Line


Ventura County Line


Orange County Line


Regional Rail

amtrak.com

metrolinktrains.com

Airport Shuttle

Rail Station

StationTransfer

RegionalRailStation

Busway

Station

UNDERCONSTRUCTION

Busway StreetService

Amtrak

Metrolink

LAX FlyAwaylawa.org/flyaway

LAX Shuttle (free)lawa.org

North Hollywood to Union StationRed Line

Metro Rail

Wilshire/Western to Union StationPurple Line

Blue Line

Expo Line

Orange Line

Metro Busway

Green Line

Gold Line

Downtown LA to Long Beach

Downtown LA to Santa Monica

Redondo Beach to Norwalk

East Los Angeles to Azusa

Silver Line Chatsworth to North Hollywood

San Pedro to El MonteStreet Service in Downtown LAand San Pedro

MAY 2016 Subject to ChangeNOV 2016 Subject to Change

RIVERSIDECOUNTY

SAN BERNARDINOCOUNTY

LOS ANGELES COUNTY

VENTURACOUNTY

COUNTYSAN LUIS OBISPO

COUNTYSANTA BARBARA

ORANGECOUNTY

SAN DIEGOCOUNTY

WESTSIDE

Los

Ange

les

Rive

r

Los Angeles River

PACIFIC OCEAN

CRENSHAW/

PURPLE LINE EXTENSION

REGIONAL CONNECTOR

LAX LINE

LAX

Little To

kyo/

Little To

kyo/

Arts Dist

Burbank/B

ob Hope

Airport

Van Nuys

Northrid

ge

Simi V

alley

Moorpark

Camarillo

Oxnard

Ventura - East

Sun Valley

Sylmar/San Fernando

Newhall

Santa Clarita

Via Princessa

Vincent Grade/Acton

Palmdale

Lancaster



San Bernardino Line

Riverside Line



Ventura County Line


Orange County Line


Ventura

Carpinteria

Santa Barbara

Goleta

Surf

Guadalupe

Grover Beach

San Luis Obispo

Burbank - Downtown

Glendale

El Monte

Baldwin Park

CovinaPomona - N

orth

Claremont

Montclair

Upland

Rancho Cuca

monga

Fontana

RialtoSan Bern

ardino

Industry

Pomona - Downtown

Ontario - E

ast

Jurupa Valle

y/Pedley

Commerce

Norwalk/Santa Fe Springs

Buena Park

Corona - North Main

Riverside - Downtown

Riverside - Hunter Park/UCR

Moreno Valley/March Field

Perris - Downtown

Perris - South

Anaheim Canyon

Riverside - La Sierra

Corona - West

Fullerton

Anaheim

Orange

Santa Ana

Irvine

San Juan Capistrano

San Clemente

San Clemente Pier

Oceanside

Carlsbad

Tustin

Laguna Niguel/Mission Viejo

Encinita

s

Solana Beach

Sorrento Valle

y

Old Town

San Diego

BUR

Montebello/Commerce

Universal C

ity/Studio City

Hollywood/V

ine

Hollywood/H

ighland

Universal C

ity/Studio City

Balboa

Canoga

De Soto

Pierce Colle

ge

Tampa

Reseda

Civic Ctr/

Civic Ctr/

Civic Ctr/

Civic Ctr/

GrandGrandGrandGrand

ParkParkParkPark

Westlake/M

acArthur P

ark

Warner Ctr

Roscoe

Pico/Alis

o

Mariach

i Plaza

Long Beach Bl

Artesia

Del Amo

Civic Ctr/

GrandPark

Allen

LakeSierra

Madre Villa

Arcadia

Monrovia

Duarte/City

of Hope

Irwindale

Azusa Downtown

APU/Citrus Colle

ge

Lincoln/Cypress

Heritage Sq

Southwest Museum

Highland Park

Fillmore

Del Mar

Memorial Park

South Pasadena

Westlake/M

acArthur P

ark

Wilshire

/Vermont

Pershing

Chinatown

Union Station

Chinatown

Square

7th St/Metro CtrPico

LATTC/OrthoInstitute

Jefferson/U

SC

Union Station

LAX FlyAwayAmtrak & MetrolinkLAX FlyAway

LAX Shuttle G

Amtrak & MetrolinkMetro

link

Sherman Way

Warner Ctr

Roscoe

Nordhoff

Chatsworth

Hollywood/W

estern

Vermont/S

anta MonicaHolly

wood/Western

Hollywood/V

ine

Hollywood/H

ighlandNorth

Hollywood

Balboa

Woodley

Sepulveda

Van Nuys

Sepulveda

Van Nuys

Woodman

Valley Colle

ge

Laurel Canyo

n

Canoga

De Soto

Pierce Colle

ge

Tampa

Reseda

Vermont/B

everly

Vermont/S

anta Monica

Vermont/S

unset

Vermont/S

unset

Amtrak & Metrolink

Soto

Indiana

Maravilla

East LA Civic C

tr

Atlantic

El Monte

Cal State LA

LAC+USC Medica

l Ctr

Pico/Alis

o

Mariach

i Plaza

Wilshire

/

Normandie

Wilshire

/Western

ExpoPark

/USC

Expo/Vermont

Expo/Western

Expo/Crenshaw

Farmdale

Expo/La Brea

La Cienega/Jefferson

Culver C

ity

Palms

Westwood/R

ancho Park

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

17th St/S

MC

Downtown Santa Monica

Mariposa

El Segundo

Douglas

Redondo Beach

37th St/USC

Rosecrans

Harbor

Carson

Pacific CoastHwy

GatewayTransit Ctr

Long Beach Bl

AvalonVerm

ont/

AthensCrenshaw

Hawthorne/Lennox

Aviation/L

AX

Lakewood Bl

Norwalk

Norwalk

Slauson

Manchester

Harbor F

wy

5th St

1st St

PacificAv

DowntownLong Beach

PacificAv

Washington

Vernon

Slauson

Florence

Firestone

Compton

Artesia

Del Amo

Wardlow

Willow St

Pacific Coast Hwy

Anaheim St

103rd St/


Watts Towers 103rd St/


DowntownLong Beach

Grand/LATTC

San Pedro St

Watts Towers

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

WESTSIDE

CENTRAL LA

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

CENTRAL LA

Metro & Regional Railmetro.net

amtrak.commetrolinktrains.com

17-0

898

©20

16 L

ACM

TA


San Bernardino Line

Riverside Line


Ventura County Line


Orange County Line


Regional Rail

amtrak.com

metrolinktrains.com

Airport Shuttle

Rail Station

StationTransfer

RegionalRailStation

Busway

Station

UNDERCONSTRUCTION

Busway StreetService

Amtrak

Metrolink

LAX FlyAwaylawa.org/flyaway

LAX Shuttle (free)lawa.org

North Hollywood to Union StationRed Line

Metro Rail

Wilshire/Western to Union StationPurple Line

Blue Line

Expo Line

Orange Line

Metro Busway

Green Line

Gold Line

Downtown LA to Long Beach

Downtown LA to Santa Monica

Redondo Beach to Norwalk

East Los Angeles to Azusa

Silver Line Chatsworth to North Hollywood

San Pedro to El MonteStreet Service in Downtown LAand San Pedro

MAY 2016 Subject to ChangeNOV 2016 Subject to Change

METRO RAIL TRANSPORATION240 WEST 7TH STREET

Metro Blue Line

Sara’s Apartments is within walking distance to the 5th Street Metro Station located along Long Beach Boulevard between 5th & 6th Streets. The Blue

Line offers convenient transportation from Long Beach to Downtown Los Angeles. It has a daily average ridership of 88,000 commuters.

As of 2/7/17



BRE# 01484265



BRE# 00630793

Units Floor Plan Approx. SqFt. Avg. Rents Monthly Market Rents Monthly

19 Studio 500 $456 $8,664 $1,050 $19,950

9 1 bedroom / 1 bath 600 $862 $7,758 $1,350 $12,150

1 1 bedroom / 1 bath 750 $1,200 $1,200 $1,400 $1,400

29 15,650 $17,622 $32,800



UNIT MIX MONTHLY REPORT240 WEST 7TH STREET

As of 2/7/17



BRE# 01484265



BRE# 00630793

UNIT MIX & ANNUAL INCOME REPORT240 WEST 7TH STREET

Floor Plan Units Actual Total Market TotalStudio 19 $5,472 $103,968 $12,600 $239,400

1 bedroom / 1 bath 9 $10,344 $93,096 $15,000 $145,800

1 bedroom / 1 bath 1 $14,400 $14,400 $16,800 $16,800

Total 29 $211,464 $402,000

Actual MarketGross Potential Rent $211,464 $402,000

Less: Vancancy ($6,344) ($11,060)

Misc. Income $6,240 $17,040

Effective Gross Income $211,360 $408,980

Less: Expenses ($166,360) ($127,730)

Net Operating Income $45,000 $279,250

UNIT MIX & ANNUAL SCHEDULED INCOME

ANNUALIZED INCOME



As of 2/7/17



BRE# 01484265



BRE# 00630793

Actual MarketProperty Management Fee N/A $16,080

Onsite Managment N/A $5,800

Replacement Reserves N/A $1,200

Building Insurance N/A $7,250

Maintenance N/A $2,900

Repairs N/A $17,400

Taxes - Real Estate N/A $39,000

Utilities N/A $26,100

Total Expenses $166,366 $127,790Expenses Per RSF $10.63 $8.16Expenses Per Unit $5,737 $4,404

ANNUALIZED EXPENSES



ANNUAL EXPENSE REPORT240 WEST 7TH STREET

As of 2/7/17

Address Sale Price Units Price/SF Cap Rate GRM Sale Date240 W. 7th StLong Beach, CA 90813 $3,200,000 29 $204.47 1.4% 14.7 N/A

446 Linden AvenueLong Beach, CA 90802 $1,850,000 20 $162.31 5.8% 11.1 8/30/2016

455 Magnolia AvenueLong Beach, CA 90802 $2,050,000 22 $197.42 6.4% 10.1 9/1/2016

1135 Martin Luther King Jr. Ave.Long Beach, CA 90813 $6,280,000 21 $304.31 4.1% 15.6 8/31/2016

1810 E 7th StreetLong Beach, CA 90813 $2,600,000 15 $235.17 3.0% 17.5 9/23/2016

1164 Daisy AvenueLong Beach, CA 90813 $4,105,000 25 $230.31 5.0% 14.9 12/1/2016

1725 Lemon AvenueLong Beach, CA 90813 $3,600,000 24 $226.47 3.0% 15.6 9/8/2016

SALES COMPARABLES240 WEST 7TH STREET

4.3% 13.9

$136,277$207.29

Avg. Avg.

Avg.Avg.



As of 2/7/17



BRE# 01484265



BRE# 00630793

sara’s apartments · 2017-02-08 · 31.9 32.4 33.6 demographic and income profile 1347 e 3rd st,...

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