Long Beach Multifamily
For Sale
$1,299,900
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$430.43
Days on Market84
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
Site & Location
Neighborhood
Craftsman Village
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: Oct 25
Last Checked: Oct 30 at 7:27PM
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
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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 / Yr
$63,968
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
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
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 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 4.92%
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 5.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,250
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 $1,299,900.
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
