Mixed Use 4Units -Alamitos Beach FOR SALE...1535 E. 4 th St., Long Beach, CA 90802 Mixed Use 4Units...

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


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


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.


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.


Unit Mix Information - Monthly Rent

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


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.


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


San Pedro


Area Map

Street Map


Plat Map


Mixed Use 4Units -Alamitos Beach FOR SALE...1535 E. 4 th St., Long Beach, CA 90802 Mixed Use 4Units...

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