Duplex with
For Sale
$1,625,000
1131 E 2nd, Long Beach, CA 90802
Two separate dwelling units offer residential rental use in a Long Beach neighborhood.
Property Size3,284 SF
Days on Market32
Property Features for 1131 E 2nd
General Information
Standard status
Active
Size
3,284 SF
Total Parking Spaces
2
Property subtype
Residential Income
Net Operating Income
$96,000
Amenities
Curbs, Fishing, Park, Street Lights, Suburban, Sidewalks
Dog Park
Wall/Window Unit(s)
Central
Master Downstairs
Living Room
Neighborhood
Balcony
Building Details
Building Size
3,284 SF
Year Built
1926
Buildings
1
Stories
3
Listing Agency:
eXp Realty of California, Inc.
Listed By:
William Lenocker · License #01357888
(714) 270-7355
Source:
Evrealestate
Added: Aug 27
Changed: Sep 26
Last Checked: Sep 26 at 2:49PM
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.
This 1926 duplex includes two dwelling units, with central and wall/window unit heating or cooling features noted. Interior details include a living room and a downstairs primary bedroom, while a balcony is listed among the exterior features.
The property is at 1131 E 2nd in Long Beach, within a neighborhood setting.
The property is at 1131 E 2nd in Long Beach, within a neighborhood setting.
Key Highlights
- Two‑unit residential property
- Built in 1926
- Balcony exterior feature
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
$70,608
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
4.35%
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%
$1,412,160
$1.4M
Cap Rate 7%
$1,008,686
$1.0M
Cap Rate 9%
$784,533
$784.5K
Market Conditions
NOI Build-Up for 3,284 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
$106.4K $32.40/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$100.9K $30.72/SF
− OpEx
−$30.3K −$9.21/SF
NOI
$70.6K $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%
$1,412,160
Cap Rate 7%
$1,008,686
Cap Rate 9%
$784,533
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$882.6K – $1.18M
NOI $70,608 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$897.2K
$785.0K – $1.05M
NOI $62,802 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,077 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate dwelling units offer residential rental use in a Long Beach neighborhood.
Where is this duplex located?
The property is located at 1131 E 2nd Long Beach, CA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Two‑unit residential property; Built in 1926; Balcony exterior feature
