5-Unit Multifamily Property with
For Sale
Contact for pricing
1042 East Broadway, Long Beach, CA 90802
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$457.21
Days on Market110
Property Features for 1042 East Broadway
General Information
Standard status
Active
Size
3,576 SF
Total Parking Spaces
2
Property subtype
Multifamily
Net Operating Income
$75,733
Additional Details
Multifamily Units
5
Building Details
Year Built
1921
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Orange County
(949) 419-3200
Listed By:
Tyler Leeson · License #CA 01451551
Source:
Crexi
Added: Apr 27
Changed: Aug 10
Last Checked: Aug 13 at 12:14PM
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
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
$68,386
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
4.18%
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%
$1,367,720
$1.4M
Cap Rate 7%
$976,943
$976.9K
Cap Rate 9%
$759,844
$759.8K
Market Conditions
NOI Build-Up for 3,576 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
$130.9K $36.60/SF
− Vacancy
−$6.5K −$1.83/SF
EGI
$124.3K $34.77/SF
− OpEx
−$56.0K −$15.65/SF
NOI
$68.4K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /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%
$1,367,720
Cap Rate 7%
$976,943
Cap Rate 9%
$759,844
Alternative Uses
Best Use
Apartment 5plus
$976.9K
$854.8K – $1.14M
NOI $68,386 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.68M – $2.23M
NOI $134,020 @ 7.0% cap · market cap 8.20%
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
4,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
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 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 East Broadway Long Beach, CA.
What is the asking price?
The asking price for this property is $1,635,000.
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
