$1,995,000
$405K PRICE DROP

Estimated payment $13,013/month

Total Views 11,830
1 Bed
2 Baths
6,499 Sq Ft
$307 Price per Sq Ft

About This Home

1323 Dawson Avenue is a 12-unit apartment asset in Long Beach, California. The property is offered at 8.85 GRM and 7.36% Capitalization Rate on current rents. The property is comprised of 10 Studio’s and 2 one-bedroom apartments, with most of the units being single story construction. Parking is off site and utilities are master metered, providing additional income upside through the implementation of a RUBS program. With a market rent Capitalization Rate above the 7.5% range and an attractive Market GRM, this property offers a strong cash flow investment opportunity.

Listing Agent

Mike Marcu

Mike Marcu, Broker Brokerage Phone: 949 688 1224 License #00919594 Listed on: 01/04/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,464 Sq Ft Lot
  • Two or More Common Walls
  • Density is 36-40 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 6,499 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Additional Features

  • Urban Location
  • Sewer Paid

Listing and Financial Details

  • Legal Lot and Block 18 / A
  • Tax Tract Number 21
  • Assessor Parcel Number 7261021020
  • $1,982 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • 12 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $7,225
  • Fuel Expense $6,689
  • Insurance Expense $5,665
  • Maintenance Expense $13,138
  • Other Expense $2,688
  • Professional Management Expense $9,600
  • Trash Expense $1,500
  • Water Sewer Expense $504,035
  • New Taxes Expense $26,789
  • Operating Expense $67,234
  • Gross Income $214,058
  • Net Operating Income $146,824

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • CapRate: 7.36
  • Price Per Unit: 166250
  • Professional Management Expense: 9600.00
  • Property Attached: Yes
  • Water Sewer Expenses: 504035.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7261021020
  • Year Built: 1923
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 306.97

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Sewer: Sewer Paid
  • Trash Expense: 1500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 6464.00
  • Lot Size Acres: 0.1484

Rental Info

  • Tenant Pays: None

Multi Family

  • Electric Expense: 7225.00
  • Fuel Expense: 6689.00
  • Gross Multiplier: 8.85
  • Gross Operating Income: 214058.00
  • Gross Scheduled Income: 225324.00
  • Insurance Expense: 5665.00
  • Lot Size Area: 6464.0000 Square Feet
  • Maintenance Expense: 13138.00
  • Net Operating Income: 146824.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 67234.00
  • Other Expense: 2688.00
  • Other Expense Description: Misc.
  • Rent Control: No
  • Total Expenses: 67234.00
  • Vacancy Allowance: 11266
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 26789.00
  • Tax Block: A
  • Tax Census Tract: 5751.02
  • Tax Lot: 18
  • Tax Tract Number: 021
  • TaxOtherAnnualAssessmentAmount: 1982.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/10/2025 04/10/25 Price Changed $1,995,000 -16.9% $307 / Sq Ft
01/04/2025 01/04/25 For Sale $2,400,000 +160.9% $369 / Sq Ft
05/28/2015 05/28/15 Sold $920,000 -16.4% $173 / Sq Ft
03/14/2015 03/14/15 Pending -- -- --
01/21/2015 01/21/15 For Sale $1,100,000 -- $207 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25002272

California Regional Multiple Listing Service (CRMLS)