Gated 9-Unit Income
For Sale
$2,348,000
1083 Gaviota Avenue, Long Beach, CA 90813
Well-maintained gated 9-unit building with secure entry, onsite parking, and a shared laundry area.
Property Size7,093 SF
Price / SF$331.03
Days on Market58
Property Features for 1083 Gaviota Avenue
General Information
Standard status
Active
Size
7,093 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
9
Building Details
Building Size
7,093 SF
Year Built
1963
Tenancy
Multi
Listing Agency:
JohnHart Real Estate
Listed By:
Channy Chor · License #01836138
(213) 608-6408
Source:
Velocityrealtysd
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 14 at 9:01AM
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 JohnHart Real Estate
Investment Insights
Based on property information with market context.
Now available in Long Beach, this well-maintained 9-unit income property offers a secure, low-maintenance setup with a fully gated exterior and secure entry. The building includes onsite parking and a shared laundry area, supporting day-to-day tenant needs. Unit layouts are functional throughout, and several units have been updated with newer flooring, fresh paint, upgraded kitchens, and remodeled bathrooms.
The property is positioned in a highly accessible area near major freeways, public transit, shopping centers, and local schools. BikeScore is 59 (Bikeable), WalkScore is 87 (Very Walkable), and TransitScore is 50 (Good Transit), helping support tenant accessibility.
With approximately 7,093 square feet of rentable space, this 9-unit building presents an opportunity for buyers seeking income-producing multifamily ownership with unit-level updates already completed in parts of the mix.
The property is positioned in a highly accessible area near major freeways, public transit, shopping centers, and local schools. BikeScore is 59 (Bikeable), WalkScore is 87 (Very Walkable), and TransitScore is 50 (Good Transit), helping support tenant accessibility.
With approximately 7,093 square feet of rentable space, this 9-unit building presents an opportunity for buyers seeking income-producing multifamily ownership with unit-level updates already completed in parts of the mix.
Key Highlights
- Well‑maintained 9‑unit income property built in 1963
- Approximately 7,093 SF of rentable space
- Fully gated building with secure entry and onsite parking
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
$150,240
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
6.40%
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%
$3,004,800
$3.0M
Cap Rate 7%
$2,146,286
$2.1M
Cap Rate 9%
$1,669,333
$1.7M
Market Conditions
NOI Build-Up for 7,093 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
$285.1K $40.20/SF
− Vacancy
−$12.0K −$1.69/SF
EGI
$273.2K $38.51/SF
− OpEx
−$122.9K −$17.33/SF
NOI
$150.2K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
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%
$3,004,800
Cap Rate 7%
$2,146,286
Cap Rate 9%
$1,669,333
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.50M
NOI $150,240 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.33M
$2.04M – $2.72M
NOI $163,031 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,647
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained gated 9-unit building with secure entry, onsite parking, and a shared laundry area.
Where is this apartment building located?
The property is located at 1083 Gaviota Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,348,000.
What are key features of this property?
This property features: Well‑maintained 9‑unit income property built in 1963; Approximately 7,093 SF of rentable space; Fully gated building with secure entry and onsite parking
