Apartment Building with In-Unit
For Sale
$3,475,000
1142 E 1st Street, Long Beach, CA 90802
14-unit apartment building with in-unit W/Ds for most units, subject to AB 1482 rent control.
Property Size8,965 SF
Price / SF$387.62
Days on Market56
Property Features for 1142 E 1st Street
General Information
Standard status
Active
Size
8,965 SF
Total Parking Spaces
8
Property subtype
Multi-family
Additional Details
Multifamily Units
14
Amenities
in-unit washer/dryer
private outdoor patios
Building Details
Year Built
1913
Year Renovated
2020
Buildings
2
Listing Agency:
The Agency
Listed By:
Jonathan Swire
(714) 497-3550
Source:
Sevengables
Added: Jun 7
Changed: Jul 30
Last Checked: Jul 31 at 3:40PM
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
Investment Insights
Based on property information with market context.
This 14-unit apartment building includes a front structure with 8 units and a rear structure with 6 units. The front building was constructed in 1913 and the rear structure was constructed in 1956. All units were updated in 2020 with new kitchen cabinets, counter tops, updated bathrooms, and flooring, and many units also include private outdoor patios or other outdoor spaces. Twelve of the 14 units feature in-unit W/Ds.
The property is subject to AB 1482 rent control, which limits the maximum annual increase to 5% + CPI (currently 8.7% total). Utilities are master metered for the front building and separately metered for the rear building. Parking includes 5 garages, 1 carport, and 2 open parking spaces.
The front and rear parking and utility configuration may be useful for tenant management and operational planning. A Walkscore of 87 supports strong walkability to nearby amenities and services.
The property is subject to AB 1482 rent control, which limits the maximum annual increase to 5% + CPI (currently 8.7% total). Utilities are master metered for the front building and separately metered for the rear building. Parking includes 5 garages, 1 carport, and 2 open parking spaces.
The front and rear parking and utility configuration may be useful for tenant management and operational planning. A Walkscore of 87 supports strong walkability to nearby amenities and services.
Key Highlights
- Subject to AB 1482 rent control with maximum annual increase of 5% + CPI (currently 8.7% total)
- 14 units total: 8‑unit front building and 6‑unit rear building; front master metered, rear separately metered
- 12 of 14 units feature in‑unit W/Ds
Financial Insights For Apartment 5plus
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 | $328.1k | $36.60 |
| − Vacancy | −$16.4k | −$1.83 |
| EGI | $311.7k | $34.77 |
| − OpEx | −$140.3k | −$15.65 |
| NOI | $171.4k | $19.12 |
8,965 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.14M – $2.86M
NOI $171,442 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,988 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
5,680
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 14-unit apartment building with in-unit W/Ds for most units, subject to AB 1482 rent control.
Where is this apartment building located?
The property is located at 1142 E 1st Street Long Beach, CA.
What is the asking price?
The asking price for this property is $3,475,000.
What are key features of this property?
This property features: Subject to AB 1482 rent control with maximum annual increase of 5% + CPI (currently 8.7% total); 14 units total: 8‑unit front building and 6‑unit rear building; front master metered, rear separately metered; 12 of 14 units feature in‑unit W/Ds
