5-Unit Multifamily Property with
1042 E BROADWAY Long Beach, CA 90802
1042 E BROADWAY, Long Beach, CA, 90802
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For Sale
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Five-unit multifamily building offers four two-bedroom units and one one-bedroom unit, plus two enclosed garage spaces.
Property Size3,576 SF
Price / SF$489.09
Days on Market86
Property Features for 1042 E BROADWAY
General Information
- Standard status
- Active
- Size
- 3,576 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1921
Listing agency
Marcus & Millichap - Orange County
(949) 419-3200
Listed by
Tyler Leeson · License #CA 01451551
Source
Crexi
Added: Apr 27 Updated: Jul 20 at 9:23PM Checked: Jul 21 at 8:09AM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
1042 - 1048 East Broadway is a 5-unit multifamily property with a unit mix of four two-bedroom/one-bath units and one one-bedroom/one-bath unit. The property includes 2 enclosed garage spaces, an important parking amenity in a dense neighborhood. Recent capital improvements include roof replacements on both buildings in 2025, exterior painting in 2024, and upgraded water heaters with two tankless systems in 2022. Unit 1042 has been renovated with tile and wood flooring, granite countertops, shaker-style cabinetry, and updated fixtures.
The property is located in the Alamitos Beach neighborhood of Long Beach, California, within close proximity to the Long Beach shoreline, Downtown Long Beach, and the East Village Arts District. Residents have convenient access to Retro Row along East 4th Street, and the area is expected to benefit from the planned Mosaic redevelopment.
The asset presents a straightforward ownership opportunity with a balanced floorplan mix, dedicated enclosed parking, and documented recent building and interior improvements.
The property is located in the Alamitos Beach neighborhood of Long Beach, California, within close proximity to the Long Beach shoreline, Downtown Long Beach, and the East Village Arts District. Residents have convenient access to Retro Row along East 4th Street, and the area is expected to benefit from the planned Mosaic redevelopment.
The asset presents a straightforward ownership opportunity with a balanced floorplan mix, dedicated enclosed parking, and documented recent building and interior improvements.
Key Highlights
- 5‑unit multifamily at 1042‑1048 E Broadway (Alamitos Beach): 4 two‑bed/1‑bath units and 1 one‑bed/1‑bath unit
- Two enclosed garage spaces, adding parking for residents in a dense neighborhood
- Recent capital improvements include roof replacements on both buildings in 2025 and exterior painting in 2024
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.9k | $36.60 |
| − Vacancy | −$6.5k | −$1.83 |
| EGI | $124.3k | $34.77 |
| − OpEx | −$56.0k | −$15.65 |
| NOI | $68.4k | $19.12 |
3,576 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$976.9K
$854.8K – $1.14M
NOI $68,386 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.68M – $2.23M
NOI $134,020 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit multifamily building offers four two-bedroom units and one one-bedroom unit, plus two enclosed garage spaces.
Where is this apartment building located?
The property is located at 1042 E BROADWAY Long Beach, CA.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: 5‑unit multifamily at 1042‑1048 E Broadway (Alamitos Beach): 4 two‑bed/1‑bath units and 1 one‑bed/1‑bath unit; Two enclosed garage spaces, adding parking for residents in a dense neighborhood; Recent capital improvements include roof replacements on both buildings in 2025 and exterior painting in 2024
