Five-Unit Apartment
For Sale
$1,195,000
1062 Raymond, Long Beach, CA 90804
A detached one-bedroom home accompanies four apartment units with private outdoor areas and shared laundry.
Property Size2,957 SF
Price / SF$404.13
Days on Market78
Property Features for 1062 Raymond
General Information
Standard status
Active
Size
2,957 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Unassigned (Central)
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA (single family), 4 x 1BR/1BA
Multifamily Units
5
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Amenities
on-site laundry
private patios
wall unit AC
Building Details
Building Size
2,957 SF
Year Built
1946
Listing Agency:
RE/MAX Unlimited Real Estate
(714) 863-9393
Listed By:
Donna Dostalik · License #01017840
(909) 772-5233
Source:
Laroccarealestate
Added: Aug 13
Changed: Oct 28
Last Checked: Oct 27 at 3:24AM
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 Unlimited Real Estate
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Investment Insights
Based on property information with market context.
The property combines a detached one-bedroom, one-bath residence with four one-bedroom, one-bath apartment units. The apartments are arranged with two units on each of two levels, and each has a gated private patio. The residence also has a gated front yard and patio. Interiors are described as spacious, with wall-unit air conditioning, built-in wall furnaces, and newer finishes. An on-site laundry room has one washer and one dryer for shared use. The property totals 2,957 square feet and was built in 1946.
The site includes an oversized parking area with room for more than 5 cars, a gated rear alley, and landscaped grounds. It is near Highway 1, 7th Street, Junipero, Recreation Park, a baseball park, and California State University, Long Beach. The surrounding area includes single-family homes and three-story apartment buildings.
All five residences are reported permitted and occupied, with month-to-month rental agreements. Individual smart meters are installed.
The site includes an oversized parking area with room for more than 5 cars, a gated rear alley, and landscaped grounds. It is near Highway 1, 7th Street, Junipero, Recreation Park, a baseball park, and California State University, Long Beach. The surrounding area includes single-family homes and three-story apartment buildings.
All five residences are reported permitted and occupied, with month-to-month rental agreements. Individual smart meters are installed.
Key Highlights
- Five residences: one detached house and four one‑bedroom, one‑bath apartments
- 2,957 square feet; built in 1946
- Each apartment has a gated private patio; the detached house has a gated front yard and patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,548
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,130,960
$1.1M
Cap Rate 7%
$807,829
$807.8K
Cap Rate 9%
$628,311
$628.3K
Market Conditions
NOI Build-Up for 2,957 SF
Gross rent
$108.2K $36.60/SF
− Vacancy
−$5.4K −$1.83/SF
EGI
$102.8K $34.77/SF
− OpEx
−$46.3K −$15.65/SF
NOI
$56.5K $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 Rate 5%
$1,130,960
Cap Rate 7%
$807,829
Cap Rate 9%
$628,311
Alternative Uses
Best Use
Apartment 5plus
$807.8K
$706.9K – $942.5K
NOI $56,548 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,822 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,826
Businesses Nearby
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Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A detached one-bedroom home accompanies four apartment units with private outdoor areas and shared laundry.
Where is this apartment building located?
The property is located at 1062 Raymond Long Beach, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Five residences: one detached house and four one‑bedroom, one‑bath apartments; 2,957 square feet; built in 1946; Each apartment has a gated private patio; the detached house has a gated front yard and patio
