Two-Story Apartment
For Sale
$1,650,000
1134 Raymond, Long Beach, CA 90804
Maintained multifamily property with garages, on-site laundry, and a shared outdoor area.
Property Size5,429 SF
Days on Market108
Property Features for 1134 Raymond
General Information
Standard status
Active
Size
5,429 SF
Total Parking Spaces
4
Property subtype
Mixed Use
Units
Unit Mix
4 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
7
Amenities
on-site laundry
outdoor common area
Building Details
Building Size
5,429 SF
Year Built
1959
Stories
2
Listing Agency:
Southland Property Group
Listed By:
Perry Karn · License #01963224
(562) 519-0099
Source:
Nolanrossre.kw
Added: May 20
Changed: Aug 30
Last Checked: Sep 4 at 2:13AM
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 Southland Property Group
Investment Insights
Based on property information with market context.
1134 Raymond Avenue is a two-story apartment property in Long Beach’s Eastside submarket, completed in 1959. The building contains seven units, including four one-bedroom, one-bath residences and three two-bedroom, one-bath residences. The units and common property have been maintained, with four single-car garages, an on-site laundry facility, and an outdoor common area.
Gas and electric service are separately metered for each unit. The property is located in Long Beach, California, within the Eastside submarket and carries a multifamily configuration suited to residential income ownership.
Gas and electric service are separately metered for each unit. The property is located in Long Beach, California, within the Eastside submarket and carries a multifamily configuration suited to residential income ownership.
Key Highlights
- Seven‑unit apartment property built in 1959
- Unit mix includes 4 one‑bedroom/one‑bath and 3 two‑bedroom/one‑bath units
- Two‑story building with 4 single‑car garages
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
$103,821
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
6.29%
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%
$2,076,420
$2.1M
Cap Rate 7%
$1,483,157
$1.5M
Cap Rate 9%
$1,153,567
$1.2M
Market Conditions
NOI Build-Up for 5,429 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
$198.7K $36.60/SF
− Vacancy
−$9.9K −$1.83/SF
EGI
$188.8K $34.77/SF
− OpEx
−$84.9K −$15.65/SF
NOI
$103.8K $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 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%
$2,076,420
Cap Rate 7%
$1,483,157
Cap Rate 9%
$1,153,567
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,821 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,467 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
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?
Apartment building - Maintained multifamily property with garages, on-site laundry, and a shared outdoor area.
Where is this apartment building located?
The property is located at 1134 Raymond Long Beach, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Seven‑unit apartment property built in 1959; Unit mix includes 4 one‑bedroom/one‑bath and 3 two‑bedroom/one‑bath units; Two‑story building with 4 single‑car garages
