Seven-Unit Apartment Building with
For Sale
$2,900,000
108 Redondo Avenue, Long Beach, CA 90803
Fully occupied residential property with garages, on-site laundry, and a separate single-family residence.
Property Size6,569 SF
Price / SF$441.47
Days on Market208
Property Features for 108 Redondo Avenue
General Information
Standard status
Active
Size
6,569 SF
Total Parking Spaces
7
Property subtype
Commercial Sale / Multi Family
Net Operating Income
$129,000
Additional Details
Multifamily Units
23
Amenities
on-site community laundry
laundry hook-ups inside SFR
Building Details
Year Built
1914
Buildings
2
Listing Agency:
Flynn Investments
Listed By:
Patti Flynn · License #00456943
(562) 896-1473
Source:
Compass
Added: Feb 7
Changed: Aug 31
Last Checked: Aug 29 at 4:57PM
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 Flynn Investments
Investment Insights
Based on property information with market context.
The 108–110 Redondo Avenue property contains seven residential units within a 6,569 SF apartment asset built in 1914. The unit mix includes six one-bedroom, one-bath apartments and one three-bedroom, one-bath single-family residence. Seven garages provide dedicated parking, with six serving the apartments and one assigned to the residence. The property is fully occupied and includes shared laundry facilities, while the single-family residence has laundry hookups inside the home.
An electrical panel upgrade was completed at 110 Redondo Avenue in 2025. The property is located in Long Beach, CA 90803. It is offered as part of a broader group of multifamily properties that may also be acquired individually or together.
An electrical panel upgrade was completed at 110 Redondo Avenue in 2025. The property is located in Long Beach, CA 90803. It is offered as part of a broader group of multifamily properties that may also be acquired individually or together.
Key Highlights
- Seven total residential units: six one‑bedroom apartments and one three‑bedroom single‑family residence
- 6,569 SF property built in 1914
- Seven total garages, including six apartment garages and one private SFR garage
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
$125,622
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
4.33%
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%
$2,512,440
$2.5M
Cap Rate 7%
$1,794,600
$1.8M
Cap Rate 9%
$1,395,800
$1.4M
Market Conditions
NOI Build-Up for 6,569 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
$240.4K $36.60/SF
− Vacancy
−$12.0K −$1.83/SF
EGI
$228.4K $34.77/SF
− OpEx
−$102.8K −$15.65/SF
NOI
$125.6K $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%
$2,512,440
Cap Rate 7%
$1,794,600
Cap Rate 9%
$1,395,800
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.57M – $2.09M
NOI $125,622 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.10M
NOI $246,191 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23
Residential units
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
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 - Fully occupied residential property with garages, on-site laundry, and a separate single-family residence.
Where is this apartment building located?
The property is located at 108 Redondo Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Seven total residential units: six one‑bedroom apartments and one three‑bedroom single‑family residence; 6,569 SF property built in 1914; Seven total garages, including six apartment garages and one private SFR garage
