Spanish Duplex with
New
For Sale
$1,625,000
1131 E 2nd, Long Beach, CA 90802
Long Beach, CA
Property Size3,284 SF
Lot Size0.10 Acres
Price / SF$494.82
Days on Market3
Property Features for 1131 E 2nd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Laundry Room, Bathroom 2, Bedroom 2
Parking
2
Interior features
Balcony, 2 Staircases
Fireplace
1
Subdivision
Alamitos Beach (AB)
Lot features
Back Yard
Directions
On 2nd Street
Standard status
Active
APN
7265010030
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
whole-house speaker system
fireplace
private balcony
laundry room
roof access
private backyard patio
automatic security gate
EV 240v plug
Building Details
Year built
1926
Floors in Building
3
Number of units
2
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
William Lenocker · License #01357888
(714) 270-7355
Added: Aug 27
Changed: Aug 29
Last Checked: Aug 29 at 3:06AM
MLS# PW26188303
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1926, this 3,284-square-foot Spanish duplex contains two nearly identical residences arranged across the ground and second floors. Each unit includes two bedrooms, two bathrooms, a formal dining room, living room, kitchen, and a primary suite with an en-suite bath. The dining areas can be adapted as third bedrooms. Original character includes arched picture windows, coved ceilings, and hardwood floors, while the interiors feature custom cabinetry, recessed lighting, granite counters, islands, and stainless appliances. The upper residence also has a fireplace, private balcony, and third-floor laundry room with roof access.
The property sits on 0.1014 acres and includes separate utility infrastructure: two 50-gallon water heaters, two gas meters, two water meters, and three electric meters. A rear two-car garage, gated driveway, additional parking, backyard patio, exterior lighting, and an EV 240v plug add functional value. The property is one block from the beach and within walking distance of East Village shops, restaurants, and the Downtown Long Beach waterfront.
Additional features include central heat, window or wall/window cooling units, public water, and public sewer. The rear garage area is identified as having ADU potential.
The property sits on 0.1014 acres and includes separate utility infrastructure: two 50-gallon water heaters, two gas meters, two water meters, and three electric meters. A rear two-car garage, gated driveway, additional parking, backyard patio, exterior lighting, and an EV 240v plug add functional value. The property is one block from the beach and within walking distance of East Village shops, restaurants, and the Downtown Long Beach waterfront.
Additional features include central heat, window or wall/window cooling units, public water, and public sewer. The rear garage area is identified as having ADU potential.
Key Highlights
- 3,284‑square‑foot Spanish duplex built in 1926
- Two residences with 2 bedrooms and 2 baths each; dining rooms can convert to third bedrooms
- Separate utilities include two 50‑gallon water heaters, two gas meters, two water meters, and three electric meters
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature flexible layouts, separate utilities, Spanish architectural details, and off-street parking near the beach.
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: 3,284‑square‑foot Spanish duplex built in 1926; Two residences with 2 bedrooms and 2 baths each; dining rooms can convert to third bedrooms; Separate utilities include two 50‑gallon water heaters, two gas meters, two water meters, and three electric meters
