Well-Maintained 5-Unit Apartment
For Sale
$2,600,000
1015 Georgia Street, Huntington Beach, CA 92648
Five-unit multi-family property delivered May 2026 with new roof, exterior paint, and upgraded windows and sliders.
Property Size4,665 SF
Days on Market46
Property Features for 1015 Georgia Street
General Information
Standard status
Active
Size
4,665 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Additional Details
Multifamily Units
5
Building Details
Building Size
4,665 SF
Year Built
1978
Tenancy
Multi
Listing Agency:
RE/MAX TerraSol
Listed By:
Leo Betancourt · License #01241497
(714) 308-7838
Source:
Summerperrygroup
Added: Jul 20
Changed: Aug 28
Last Checked: Sep 2 at 1:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX TerraSol
Investment Insights
Based on property information with market context.
This well-maintained 5-unit multi-family property was completed in May 2026. Improvements include a new roof on all structures, fresh exterior painting, fumigation for termite and Section 1 item clearance, and new Milgard windows and sliders on the front main structure. The front building also has four new single-car garage doors installed, and the property includes four single-car garages to the front along with a separate two-car garage toward the rear.
The unit mix consists of one 3-bedroom unit, three 2-bedroom units, and one studio. The property is located near downtown Huntington Beach, Pacific City, and nearby stores and restaurants, with the beach and Huntington Beach pier also described as a short distance away.
With its updated exterior and garage infrastructure supporting the existing floor plan, this is a compact apartment building configured around a diversified mix of studios, 2-bedroom, and 3-bedroom units.
The unit mix consists of one 3-bedroom unit, three 2-bedroom units, and one studio. The property is located near downtown Huntington Beach, Pacific City, and nearby stores and restaurants, with the beach and Huntington Beach pier also described as a short distance away.
With its updated exterior and garage infrastructure supporting the existing floor plan, this is a compact apartment building configured around a diversified mix of studios, 2-bedroom, and 3-bedroom units.
Key Highlights
- Five‑unit multifamily property completed May 2026 with new roof on all structures
- Freshly painted exterior
- Upgraded front main structure with new Milgard windows and sliders
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
$100,565
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
3.87%
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%
$2,011,300
$2.0M
Cap Rate 7%
$1,436,643
$1.4M
Cap Rate 9%
$1,117,389
$1.1M
Market Conditions
NOI Build-Up for 4,665 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
$187.5K $40.20/SF
− Vacancy
−$4.7K −$1.01/SF
EGI
$182.8K $39.20/SF
− OpEx
−$82.3K −$17.64/SF
NOI
$100.6K $21.56/SF
Area
Huntington Beach, CA
Vacancy
2.50%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,011,300
Cap Rate 7%
$1,436,643
Cap Rate 9%
$1,117,389
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,565 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,856 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 92648, CA
46,691
Population
21,609
Households
2.2
Avg Household Size
44
Median Age
51%
College-Educated
95%
High-School Grad
8.0 sq mi
ZIP Area
5,836
Density / Sq Mi
$118,993
Median Household Income
$73,049
Median Earnings
$2,324
Median Rent
$1,176,000
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?
Apartment building - Five-unit multi-family property delivered May 2026 with new roof, exterior paint, and upgraded windows and sliders.
Where is this apartment building located?
The property is located at 1015 Georgia Street Huntington Beach, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Five‑unit multifamily property completed May 2026 with new roof on all structures; Freshly painted exterior; Upgraded front main structure with new Milgard windows and sliders
