11-Unit Multifamily
New
For Sale
$2,400,000
1137 Junipero Avenue, Long Beach, CA 90804
Gated apartment property with on-site laundry, garage parking, and a predominantly one-bedroom unit mix.
Property Size7,461 SF
Days on Market5
Property Features for 1137 Junipero Avenue
General Information
Standard status
Active
Size
7,461 SF
Net Rentable
7,461 SF
Total Parking Spaces
6
Property subtype
Apartment
Units
Unit Mix
9 x 1BR/1BA, 2 x 2BR/2BA
Multifamily Units
11
Additional Details
Public Transit
Yes
Amenities
gated property
on-site laundry room
Building Details
Building Size
7,461 SF
Year Built
1963
Stories
2
Listing Agency:
Marcus & Millichap RE Invest
Listed By:
Tyler Leeson · License #01451551
(949) 419-3200
Source:
Nolanrossre.kw
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 5:11AM
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 Marcus & Millichap RE Invest
Investment Insights
Based on property information with market context.
Built in 1963, this 11-unit apartment property contains approximately 7,461 rentable square feet across nine one-bedroom, one-bath units and two two-bedroom, two-bath units. The gated property includes an on-site laundry room and six garage parking spaces. Copper plumbing is installed throughout the building, providing a documented system improvement.
The property is located at 1137 Junipero Avenue in Long Beach’s Eastside, near the Anaheim Street and 7th Street corridors. Daily-needs retail, dining, and public transportation are nearby, while 4th Street/Retro Row, Belmont Heights, the waterfront, and Downtown Long Beach are a short drive away.
The property is located at 1137 Junipero Avenue in Long Beach’s Eastside, near the Anaheim Street and 7th Street corridors. Daily-needs retail, dining, and public transportation are nearby, while 4th Street/Retro Row, Belmont Heights, the waterfront, and Downtown Long Beach are a short drive away.
Key Highlights
- 11‑unit multifamily property with approximately 7,461 rentable square feet
- Unit mix includes 9 1‑bed/1‑bath and 2 2‑bed/2‑bath units
- Built in 1963 with copper plumbing throughout
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
$142,680
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
5.95%
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%
$2,853,600
$2.9M
Cap Rate 7%
$2,038,286
$2.0M
Cap Rate 9%
$1,585,333
$1.6M
Market Conditions
NOI Build-Up for 7,461 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
$273.1K $36.60/SF
− Vacancy
−$13.7K −$1.83/SF
EGI
$259.4K $34.77/SF
− OpEx
−$116.7K −$15.65/SF
NOI
$142.7K $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%
$2,853,600
Cap Rate 7%
$2,038,286
Cap Rate 9%
$1,585,333
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.78M – $2.38M
NOI $142,680 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.50M – $4.66M
NOI $279,621 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Gated apartment property with on-site laundry, garage parking, and a predominantly one-bedroom unit mix.
Where is this apartment building located?
The property is located at 1137 Junipero 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: 11‑unit multifamily property with approximately 7,461 rentable square feet; Unit mix includes 9 1‑bed/1‑bath and 2 2‑bed/2‑bath units; Built in 1963 with copper plumbing throughout
