8-Unit Apartment
New
For Sale
$2,500,000
1128 Temple, Long Beach, CA 90804
Two-bedroom, two-bath residences include individual gas and electricity meters.
Property Size7,647 SF
Days on Market4
Property Features for 1128 Temple
General Information
Standard status
Active
Size
7,647 SF
Total Parking Spaces
13
Property subtype
Mixed Use
Site & Location
Neighborhood
Zaferia
Utilities to Site
Yes
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Individually Metered Utilities
gas, electricity
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Asking Price
$2,500,000
Amenities
private balconies
Building Details
Building Size
7,647 SF
Year Built
1987
Stories
3
Listing Agency:
Keller Williams Realty Downey
Listed By:
Robert Stepp · License #01456379
(310) 774-3740
Source:
Velocityrealtysd
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 5 at 2:36AM
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 Keller Williams Realty Downey
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Investment Insights
Based on property information with market context.
This three-story apartment property in Long Beach contains eight residences, each configured with two bedrooms and two bathrooms. The units average approximately 956 square feet, and four have private balconies. Built in 1987, the building also provides 13 secure parking spaces and separate gas and electric meters for each residence.
The property is currently operated as student housing, with rents collected on a per-bed basis. It is being marketed for a shift to conventional, per-unit multifamily leasing.
The property is currently operated as student housing, with rents collected on a per-bed basis. It is being marketed for a shift to conventional, per-unit multifamily leasing.
Key Highlights
- Eight apartments, all with two bedrooms and two bathrooms
- Three‑story building constructed in 1987
- Residences average approximately 956 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,237
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,924,740
$2.9M
Cap Rate 7%
$2,089,100
$2.1M
Cap Rate 9%
$1,624,856
$1.6M
Market Conditions
NOI Build-Up for 7,647 SF
Gross rent
$279.9K $36.60/SF
− Vacancy
−$14.0K −$1.83/SF
EGI
$265.9K $34.77/SF
− OpEx
−$119.6K −$15.65/SF
NOI
$146.2K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,924,740
Cap Rate 7%
$2,089,100
Cap Rate 9%
$1,624,856
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,237 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.09M
$3.58M – $4.78M
NOI $286,592 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,138
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
$673,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
Properties on Market for Apartment buildings in Long Beach
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom, two-bath residences include individual gas and electricity meters.
Where is this apartment building located?
The property is located at 1128 Temple Long Beach, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Eight apartments, all with two bedrooms and two bathrooms; Three‑story building constructed in 1987; Residences average approximately 956 square feet
