Long Beach Multifamily
For Sale
$1,399,900
1089 E 7th St, Long Beach, CA 90813
Income-producing multifamily asset with established rental operations in Long Beach.
Property Size3,020 SF
Price / SF$463.54
Days on Market31
Property Features for 1089 E 7th St
General Information
Standard status
Active
Size
3,020 SF
Property subtype
Residential Income
Net Operating Income
$68,535
Financials
Asking Price
$1,399,900
Cap Rate
4.9%
Gross Income
$96,000
Gross Rent Multiplier
14.58
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Kory Jackson · License #01315324
(310) 717-3720
Source:
Exprealty
Added: Aug 9
Changed: Sep 8
Last Checked: Sep 8 at 8:16AM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
Located at 1089 E. 7th Street in Long Beach, this multifamily property is an income-producing asset with established rental operations. The property is presented as a standalone acquisition and may also be purchased in a portfolio with 117 W. 9th Street.
The asset reflects an approximate 4.90% cap rate and 14.58 GRM based on the stated operating profile. It is positioned for buyers seeking an existing multifamily holding, including portfolio purchasers and buyers completing a 1031 exchange. Seller participation in an IRC Section 1031 exchange is contemplated, with the buyer’s cooperation required at no cost or liability to the buyer.
The asset reflects an approximate 4.90% cap rate and 14.58 GRM based on the stated operating profile. It is positioned for buyers seeking an existing multifamily holding, including portfolio purchasers and buyers completing a 1031 exchange. Seller participation in an IRC Section 1031 exchange is contemplated, with the buyer’s cooperation required at no cost or liability to the buyer.
Key Highlights
- Approximately 4.90% cap rate
- Approximately 14.58 GRM
- Located at 1089 E. 7th Street in Long Beach, CA
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
$63,968
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
4.57%
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%
$1,279,360
$1.3M
Cap Rate 7%
$913,829
$913.8K
Cap Rate 9%
$710,756
$710.8K
Market Conditions
NOI Build-Up for 3,020 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
$121.4K $40.20/SF
− Vacancy
−$5.1K −$1.69/SF
EGI
$116.3K $38.51/SF
− OpEx
−$52.3K −$17.33/SF
NOI
$64.0K $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%
$1,279,360
Cap Rate 7%
$913,829
Cap Rate 9%
$710,756
Alternative Uses
Best Use
Apartment 5plus
$913.8K
$799.6K – $1.07M
NOI $63,968 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$991.6K
$867.7K – $1.16M
NOI $69,414 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,250
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily asset with established rental operations in Long Beach.
Where is this multifamily property located?
The property is located at 1089 E 7th St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Approximately 4.90% cap rate; Approximately 14.58 GRM; Located at 1089 E. 7th Street in Long Beach, CA
