Bluff Park Multifamily Investment
2325 E 2nd Street Long Beach, CA 90803
2325 E 2nd Street, Long Beach, CA, 90803
$2,950,000
For Sale
$2,950,000
11-unit apartment asset located in Prime Bluff Park, Long Beach
Property Size7,057 SF
Lot Size0.16 Acres
Price / SF$417
Days on Market547
Property Features for 2325 E 2nd Street
General Information
- Standard status
- Active
- Property type
- Residential income homes, Other residential income properties, Multifamily properties, Investment properties, Residential income properties
- Size
- 7,057 SF
- Elevators
- N/A
- Lot size
- 0.16 Acres
Building Details
- Stories
- 2
- Units
- 11
Listing Office
(310) 774-3745
Listed by
Todd
(310) 774-3745
Added: Jan 16, 2025 Checked: Mar 16 at 9:06 am
Investment Insights
Based on property information with market context.
Located in Long Beach's Bluff Park neighborhood, this 11-unit apartment building at 2325 E. 2nd Street presents an investment opportunity. The property consists of two buildings on a 0.16-acre lot, with a total building size of 7,057 square feet. One building, constructed in 1923, contains four 1-bedroom/1-bathroom units. The second building, built in 1964, includes four 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and two studio units (one non-conforming). Six units have been renovated and feature in-unit washer/dryers. Building-wide improvements include double-pane windows and upgraded electrical systems. The property also features an on-site laundry facility and four garages, each with permits for potential Accessory Dwelling Unit (ADU) development. The property consists of 10 legal units plus one non-conforming unit. Convenient beach access and coastal living are offered in this prime Bluff Park location. Assumable financing is available at a 3.47% interest rate until October 1, 2026.
Key Highlights
- Priced at 11.9 GRM / 5.36% Cap Rate on Current Rents
- Prime Bluff Park Location
- 6 Units Renovated with In‑Unit Washer/Dryers
Local Financial Insights For Multifamily LT 5
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 | $228.7k | $32.40 |
| − Vacancy | −$11.9k | −$1.68 |
| EGI | $216.8k | $30.72 |
| − OpEx | −$65.0k | −$9.21 |
| NOI | $151.7k | $21.50 |
7,057 SF · lease $32.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,739 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,963 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,496 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income homes
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income home - 11-unit apartment asset located in Prime Bluff Park, Long Beach
Where is this residential income home located?
The property is located at 2325 E 2nd Street Long Beach, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Priced at 11.9 GRM / 5.36% Cap Rate on Current Rents; Prime Bluff Park Location; 6 Units Renovated with In‑Unit Washer/Dryers
