11-Unit Multifamily
1137 Junipero Avenue, Long Beach, CA 92612
For Sale
$2,400,000
Gated apartment property with on-site laundry, garage parking, and a predominantly one-bedroom unit mix.
Property Size7,461 SF
Days on Market53
Property Features for 1137 Junipero Avenue
General Information
Standard status
Size
Net Rentable
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
gated property
on-site laundry room
Property Overview: 11 units built in 1963, totaling ±7,461 rentable square feet in Long Beach's Eastside.
Favorable Unit Mix: Nine 1-bed/1-bath units and two 2-bed/2-bath units.
Ancillary Income: Gated access with an on-site laundry room and 6 garage parking spaces.
Capital Improvements: Upgraded with copper plumbing throughout.
Strategic Location: Close proximity to the Anaheim and 7th Street corridors, Retro Row, the waterfront, and Downtown.
Building Details
Building Size
Year Built
Units
Listing Agency:
Marcus & Millichap RE Invest
Listed By:
Tyler Leeson
(714) 713-9086
Source:
Marcusmillichap
Added: Sep 19
Changed: Nov 6
Last Checked: Nov 10 at 5:12AM
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
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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 / Yr
$142,680
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
1,826
Businesses Nearby
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Business Placement
Demographics for 92612, CA
31,822
Population
16,161
Households
2
Avg Household Size
32
Median Age
67%
College-Educated
97%
High-School Grad
6.4 sq mi
ZIP Area
4,972
Density / Sq Mi
$95,938
Median Household Income
$55,721
Median Earnings
$2,803
Median Rent
$938,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Long Beach, CA
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Vacancy Rate% for Multifamily in West region
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
