Eastside Long Beach Triplex
For Sale
$1,299,000
1120 Raymond Ave, Long Beach, CA 90804
Triplex with three townhome-style units in Eastside Long Beach.
Property Size3,720 SF
Lot Size0.12 Acres
Price / SF$349.19
Days on Market224
Property Features for 1120 Raymond Ave
General Information
Standard status
Active
Size
3,720 SF
Lot size
0.12 Acres
Property subtype
Residential Income
Listing Agency:
coldwell banker realty
(941) 366-8070
Listed By:
Luen Song · License #01733206
(562) 494-4600
Source:
Exprealty
Added: Jan 21
Changed: Aug 27
Last Checked: Sep 2 at 1:21AM
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 coldwell banker realty
Investment Insights
Based on property information with market context.
This triplex, located in Eastside Long Beach, presents an investment opportunity. The property features three townhome-style units, each with 3 bedrooms and 1.5 bathrooms. Each unit has a private entrance and a two-story layout. The building has approximately 3,720 sq ft of living space and is situated on a 5,201 sq ft lot. There is ample rear parking. Each unit is separately metered for gas and electricity. The property has a history of low vacancy and consistent rental performance. There is potential for an ADU, but the buyer must verify this. The property is suited for investors seeking stability, upside in a hot rental market, appreciation potential, and future income growth.
Key Highlights
- Strong history of low vacancy and consistent rental performance.
- Three spacious townhome‑style units, each with 3 bedrooms and 1.5 bathrooms.
- Each unit has a private entrance and a functional two‑story layout.
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
$79,982
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
6.16%
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%
$1,599,640
$1.6M
Cap Rate 7%
$1,142,600
$1.1M
Cap Rate 9%
$888,689
$888.7K
Market Conditions
NOI Build-Up for 3,720 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
$120.5K $32.40/SF
− Vacancy
−$6.3K −$1.68/SF
EGI
$114.3K $30.72/SF
− OpEx
−$34.3K −$9.21/SF
NOI
$80.0K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,599,640
Cap Rate 7%
$1,142,600
Cap Rate 9%
$888,689
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$999.8K – $1.33M
NOI $79,982 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$1.02M
$889.2K – $1.19M
NOI $71,139 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,417 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,826
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
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?
Triplex - Triplex with three townhome-style units in Eastside Long Beach.
Where is this triplex located?
The property is located at 1120 Raymond Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Strong history of low vacancy and consistent rental performance.; Three spacious townhome‑style units, each with **3 bedrooms and 1.5 bathrooms.**; Each unit has a **private entrance** and a functional two‑story layout.
