Duplex with Attached
For Sale
$840,000
410 E 21st Street, Long Beach, CA 90806
Long Beach, CA
Property Size1,931 SF
Lot Size0.07 Acres
Price / SF$435.01
Days on Market213
Property Features for 410 E 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 3, Laundry Room
Parking
2
Parking features
Garage
Subdivision
North Long Beach (NLB)
Lot features
0-1 Unit/ Acre
Directions
Between Long Beach Blvd and Atlantic Ave on E 21st St
Standard status
Active
APN
7209012011
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Palos Verdes · Keller Williams Realty
(310) 544-6100
Listed By:
Janet Chen · License #02061843
(310) 408-1106
Added: Jan 31
Changed: Sep 1
Last Checked: Sep 1 at 7:06PM
MLS# PV26022697
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1923, this duplex at 410 E 21st Street contains two 2BD/1.5BA units totaling 1,931 square feet on a 2,843-square-foot lot. One unit is vacant, while the other provides existing tenant income. Each residence has separate gas and electric meters, and the owner pays water. Heating is provided by wall furnaces.
The property includes an attached two-car garage with one parking space allocated to each unit. Public water and public sewer serve the site. Positioned near the 405/710 corridor in Long Beach, the property is described with a projected ~6.3% cap rate and 11.7x GRM when both units are leased.
The property includes an attached two-car garage with one parking space allocated to each unit. Public water and public sewer serve the site. Positioned near the 405/710 corridor in Long Beach, the property is described with a projected ~6.3% cap rate and 11.7x GRM when both units are leased.
Key Highlights
- Two 2BD/1.5BA units totaling 1,931 square feet
- 2,843‑square‑foot lot with an attached 2‑car garage
- One garage space designated for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,598
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,960
$692.0K
Cap Rate 7%
$494,257
$494.3K
Cap Rate 9%
$384,422
$384.4K
Market Conditions
NOI Build-Up for 1,931 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.1K $27.00/SF
− Vacancy
−$2.7K −$1.40/SF
EGI
$49.4K $25.60/SF
− OpEx
−$14.8K −$7.68/SF
NOI
$34.6K $17.92/SF
Area
ZIP 90806
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,960
Cap Rate 7%
$494,257
Cap Rate 9%
$384,422
Alternative Uses
Best Use
Multifamily LT 5
$494.3K
$432.5K – $576.6K
NOI $34,598 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$444.2K
$388.7K – $518.2K
NOI $31,093 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.03M
$904.6K – $1.21M
NOI $72,369 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 90806, CA
41,611
Population
13,106
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
72%
High-School Grad
4.9 sq mi
ZIP Area
8,492
Density / Sq Mi
$73,674
Median Household Income
$36,691
Median Earnings
$1,672
Median Rent
$699,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include separate utility metering and dedicated garage parking, with one unit currently vacant.
Where is this duplex located?
The property is located at 410 E 21st Street Long Beach, CA.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Two 2BD/1.5BA units totaling 1,931 square feet; 2,843‑square‑foot lot with an attached 2‑car garage; One garage space designated for each unit
