Mixed Use - Alamitos Beach FOR SALE 1535 E. 4 th St., Long Beach, CA 90802 NRT PROPERTY OVERVIEW 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 residential units with 5 garage spaces. DETAILS PRICE: $995,000 GLA/SF: 2,841 PRICE/SF: $351.81 CAP RATE: 3.75% YEAR BUILT: 1909 + 1955 UNITS: 3 OCCUPANCY: 100% FOR MORE DETAILS CONTACT: Greg Trotter gtrotter@coldwellbanker.com BRE License No. 00978695 Direct 818-205-2052 Main 818-995-2424 Fax 818-995-1976 Cell 310-344-4900 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.
Confidentiality and Disclaimer 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 Trotter Director - 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 gtrotter@coldwellbanker.com
Property Information Type: Address: Neighborhood Mixed Use 1535 E. 4th St. City, State: Long Beach, CA 90802 Submarket: County: Cross Streets: North Alamitos Beach Los Angeles Building SF: +/- 2,841 Lot Size SF: +/- 7,532 Units: 3 4th St. and Walnut Ave. Year Built: 1909 + 1955 Zoning: Ownership: LBCNR Fee Simple Parking Spaces: 5 (5 Garage) APN: 7266-018-025 Current Occupancy: 100.00% Meters: Individual - Gas (3) & Electric (3); Master - Water (1)
Highlights 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
Offering Summary Price: $ 999,500 Price per SF: $ 351.81 Cap Rate: 3.75% GRM: 17.95 Operating Data 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.
Unit Mix Information - Monthly Rent 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 15351/2 1 Bd + 1 Ba $ - $ 975 $ 1,650 * Lease expires 10/01/21. There are 5.00% annual rent increases. ** Seller unsure if room separation is permitted. $ 75 $ 4,564 $ 6,125 $ 900 $ 54,768 $ 73,500
Demographics 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 Traffic Count 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
Property Description 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. The property consists of two single family residences and one commercial tenant. The residential units consist of a rear 1 bedroom + 1 bath house with a private side yard and patio, a two story 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 studio is good size with a bedroom area and outer room with mini kitchenette with sink, cabinets and counter top - no stove or oven but room for microwave, etc. Both houses have had some updating with newer windows, some laminate and tile flooring, faux granite counter tops, and hardwood kitchen cabinets. Buyer to verify extent of updates and additions. Residential units are rented at below market rents. 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
San Pedro 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 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
Area Map Mixed Use - Alamitos Beach/Long Beach
Street Map Mixed Use - Alamitos Beach/Long Beach
Plat Map Mixed Use - Alamitos Beach/Long Beach