Multifamily
For Sale
$1,900,000
1085 Lewis Avenue, Long Beach, CA 90813
A Long Beach multifamily property originally built in 1923.
Property Size6,441 SF
Days on Market11
Property Features for 1085 Lewis Avenue
General Information
Standard status
Active
Size
6,441 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Saint Marys
Building Details
Building Size
6,441 SF
Year Built
1923
Listed By:
Jack Jorgensen · License #CalDRE #02022727
(626) 399-2415
Source:
Younglewin
Added: Oct 23
Changed: Oct 28
Last Checked: Nov 1 at 4:36AM
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 Jack Jorgensen
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Investment Insights
Based on property information with market context.
At 1085 Lewis in Long Beach, this multifamily property was built in 1923. The stated directions place it off MLK and 11th in Los Angeles County.
Key Highlights
- Built in 1923
- Located at 1085 Lewis in Long Beach, Los Angeles County
- Directions place the property off MLK and 11th
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,429
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,728,580
$2.7M
Cap Rate 7%
$1,948,986
$1.9M
Cap Rate 9%
$1,515,878
$1.5M
Market Conditions
NOI Build-Up for 6,441 SF
Gross rent
$258.9K $40.20/SF
− Vacancy
−$10.9K −$1.69/SF
EGI
$248.1K $38.51/SF
− OpEx
−$111.6K −$17.33/SF
NOI
$136.4K $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 Rate 5%
$2,728,580
Cap Rate 7%
$1,948,986
Cap Rate 9%
$1,515,878
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.27M
NOI $136,429 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.11M
$1.85M – $2.47M
NOI $148,045 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
2,584
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - A Long Beach multifamily property originally built in 1923.
Where is this multifamily property located?
The property is located at 1085 Lewis Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Built in 1923; Located at 1085 Lewis in Long Beach, Los Angeles County; Directions place the property off MLK and 11th
