Partially successful projects
Case selection
Project Description
The core area of Long Beach’s city center, with a multi-dimensional and convenient transportation, has a wide ocean view of the Pacific Ocean. The balcony view faces the Long Beach Ocean Park, Queen Mary and other famous attractions. It is within walking distance to the well-known Coastline Yacht Club, Pike Outlets, Lincoln Park, and the city. The government, etc
Real estate information
Reconstruction type: 9-story office building converted to 11-story ocean view apartment
Hardware facilities: Five diamonds
● 4-11 floors balcony sea view room, loft-style penthouse
● Leisure club, fitness center, outdoor swimming pool, lobby courtyard
Parking lot: 129 parking spaces, 1-3 floors underground
Renovated interior area (square feet): 102,777 square feet
Rentable apartment area (sq. ft): 100,571 sf
Estimated annual rate of return
40%
| Purchase price | $15,000,000 |
| Project cost | $35,000,000 |
| Total investment cost | $50,000,000 |
| Estimated annual rent | $3,000,000 |
| Annual rental yield | 6% |
| Estimated price | $70,000,000 |
| Estimated gross profit | $20,000,000 |
