Nine-Unit Apartment
1135 Raymond Avenue Long Beach, CA 90804
1135 Raymond Avenue, Long Beach, CA, 90804
$2,400,000
For Sale
$2,400,000
1987-built nine-unit multifamily property with onsite laundry and parking for every unit.
Property Size7,128 SF
Price / SF$336.70
Days on Market88
Property Features for 1135 Raymond Avenue
General Information
- Standard status
- Active
- Size
- 7,128 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1987
Listing agency
The Agency
Listed by
Jonathan Swire
(714) 497-3550
Source
Sevengables
Added: Apr 25 Updated: Jul 21 at 6:23AM Checked: Jul 21 at 6:23AM
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 The Agency
Investment Insights
Based on property information with market context.
This nine-unit apartment building was constructed in 1987 and is described as not subject to rent control, with only AB 1482 rent control applying. The property is professionally managed and well maintained, and includes onsite laundry plus parking for every unit. Unit mix is stated as one- and two-bedroom apartments, with rents approximately 10% below market per the seller.
The offering is located on the east side of Long Beach at 1135 Raymond Avenue. The public remarks note copper plumbing and modern electrical as part of the building’s features.
Prospective buyers can refer to the seller’s stated financing information for qualified buyers, including an interest-only fixed-rate loan for five years. The remarks also reference ongoing and planned redevelopment tied to the Long Beach Airport area, including a project expected to be completed in mid-2027 and a separate city-approved airport revamp.
The offering is located on the east side of Long Beach at 1135 Raymond Avenue. The public remarks note copper plumbing and modern electrical as part of the building’s features.
Prospective buyers can refer to the seller’s stated financing information for qualified buyers, including an interest-only fixed-rate loan for five years. The remarks also reference ongoing and planned redevelopment tied to the Long Beach Airport area, including a project expected to be completed in mid-2027 and a separate city-approved airport revamp.
Key Highlights
- Nine‑unit multifamily property built in 1987 with onsite laundry and parking for every unit
- Unit mix includes 1- and 2‑bedroom apartments
- Not subject to rent control; only subject to AB 1482 rent control with maximum annual increases of 5% + CPI (currently 8.7% total)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $260.9k | $36.60 |
| − Vacancy | −$13.0k | −$1.83 |
| EGI | $247.8k | $34.77 |
| − OpEx | −$111.5k | −$15.65 |
| NOI | $136.3k | $19.12 |
7,128 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.70M – $2.27M
NOI $136,312 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,141 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - 1987-built nine-unit multifamily property with onsite laundry and parking for every unit.
Where is this apartment building located?
The property is located at 1135 Raymond Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Nine‑unit multifamily property built in 1987 with onsite laundry and parking for every unit; Unit mix includes 1- and 2‑bedroom apartments; Not subject to rent control; only subject to AB 1482 rent control with maximum annual increases of 5% + CPI (currently 8.7% total)
