Long Beach Apartment Building
For Sale
$12,200,000
5120-5132 E Livingston Dr, Long Beach, CA 90803
26-unit apartment complex at 5120 Livingstone Drive in the highly sought-after Belmont Shore rental submarket of Long Beach.
Property Size16,874 SF
Lot Size0.37 Acres
Price / SF$723.01
Days on Market652
Property Features for 5120-5132 E Livingston Dr
General Information
Standard status
Active
Property type
Multifamily properties, Other investment properties, Residential income homes, Residential income properties, Investment properties
Size
16,874 SF
Class
C
Elevators
N/A
Lot size
0.37 Acres
Building Details
Year Built
1943
Stories
2
Units
26
Listed By:
Robert Stepp
(310) 774-3740
Added: Jan 16, 2025
Changed: Mar 16
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the desirable Belmont Shore neighborhood of Long Beach, this 26-unit apartment complex offers a prime investment opportunity. The property, situated on an oversized 0.37-acre lot, features 16,874 square feet of living space. Each of the 26 units is a one-bedroom, one-bathroom apartment that has been recently remodeled with modern kitchens and bathrooms. Residents can enjoy a spacious common courtyard equipped with BBQ and dining facilities. A significant feature of the property is the inclusion of 13 private garages, providing ample parking. Recent capital improvements include upgraded electrical panels and a completed seismic retrofit. The location provides convenient access to the beach, Naples Island, the shops and restaurants of 2nd Street, and Alamitos Bay. The property presents a turn-key investment opportunity in a sought-after area.
Key Highlights
- Attractive Assumable Financing – 2.97% Until at 60% LTV until 2030
- Prime Belmont Shore Location
- All Units Remodeled with Modern Kitchens and Bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$362,802
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,256,040
$7.3M
Cap Rate 7%
$5,182,886
$5.2M
Cap Rate 9%
$4,031,133
$4.0M
Market Conditions
NOI Build-Up for 16,874 SF
Gross rent
$546.7K $32.40/SF
− Vacancy
−$28.4K −$1.68/SF
EGI
$518.3K $30.72/SF
− OpEx
−$155.5K −$9.21/SF
NOI
$362.8K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,256,040
Cap Rate 7%
$5,182,886
Cap Rate 9%
$4,031,133
Alternative Uses
Best Use
Multifamily LT 5
$5.18M
$4.54M – $6.05M
NOI $362,802 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$4.61M
$4.03M – $5.38M
NOI $322,690 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$9.03M
$7.90M – $10.54M
NOI $632,399 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,487
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - 26-unit apartment complex at 5120 Livingstone Drive in the highly sought-after Belmont Shore rental submarket of Long Beach.
Where is this multifamily property located?
The property is located at 5120-5132 E Livingston Dr Long Beach, CA.
What is the asking price?
The asking price for this property is $12,200,000.
What are key features of this property?
This property features: Attractive Assumable Financing – 2.97% Until at 60% LTV until 2030; Prime Belmont Shore Location; All Units Remodeled with Modern Kitchens and Bathrooms
