Nine-Unit Apartment
For Sale
$2,195,000
1135 Raymond Avenue, Long Beach, CA 90804
1987-built nine-unit multifamily property with onsite laundry and parking for every unit.
Property Size7,128 SF
Price / SF$307.94
Days on Market187
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 · License #01336277
(310) 948-2631
Source:
Sevengables
Added: Apr 19
Changed: Oct 21
Last Checked: Oct 20 at 11:27PM
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
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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)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,312
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,726,240
$2.7M
Cap Rate 7%
$1,947,314
$1.9M
Cap Rate 9%
$1,514,578
$1.5M
Market Conditions
NOI Build-Up for 7,128 SF
Gross rent
$260.9K $36.60/SF
− Vacancy
−$13.0K −$1.83/SF
EGI
$247.8K $34.77/SF
− OpEx
−$111.5K −$15.65/SF
NOI
$136.3K $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%
$2,726,240
Cap Rate 7%
$1,947,314
Cap Rate 9%
$1,514,578
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.70M – $2.27M
NOI $136,312 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,141 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,826
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 $2,195,000.
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)
