12-Unit Apartment
For Sale
Contact for pricing
1161 E 1st Street, Long Beach, CA 90802
Spacious unit layouts include one-bedroom apartments and a studio in a coastal Long Beach setting.
Property Size10,400 SF
Price / SF$307.21
Days on Market71
Property Features for 1161 E 1st Street
General Information
Standard status
Active
Size
10,400 SF
Total Parking Spaces
10
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$198,768
Financials
Asking Price
$3,195,000
Cap Rate
6.22%
Site & Location
Neighborhood
Alamitos Beach
Units
Unit Mix
8 x 1BR (925SF), 3 x 1BR (800SF), 1 x studio (600SF)
Multifamily Units
12
Building Details
Year Built
1920
Buildings
1
Units
12
Tenancy
Multi
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 774-3740
Source:
Crexi
Added: Aug 24
Changed: Oct 28
Last Checked: Nov 1 at 2:55AM
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 Stepp Commercial
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Investment Insights
Based on property information with market context.
This 10,400-square-foot apartment property contains 12 units, including eleven one-bedroom apartments and one studio. The one-bedroom layouts include eight units measuring 925 SF and three measuring 800 SF, while the studio measures 600 square feet. Originally built in 1920, the property offers a distinct unit mix within the Alamitos Beach neighborhood of Long Beach.
The location provides access to the beach, bike path, Downtown Long Beach employment, restaurants, shopping, and neighborhood amenities. Alamitos Beach has a 94 Walk Score and is described as having rental rates above the broader Long Beach market. The property is currently operating at a 6.22% in-place cap rate, with a projected stabilized cap rate of 7.36%.
The location provides access to the beach, bike path, Downtown Long Beach employment, restaurants, shopping, and neighborhood amenities. Alamitos Beach has a 94 Walk Score and is described as having rental rates above the broader Long Beach market. The property is currently operating at a 6.22% in-place cap rate, with a projected stabilized cap rate of 7.36%.
Key Highlights
- 12‑unit apartment property totaling 10,400 SF
- Unit mix includes eleven one‑bedroom apartments and one studio
- One‑bedroom units include eight 925SF layouts and three 800SF layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$198,884
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,977,680
$4.0M
Cap Rate 7%
$2,841,200
$2.8M
Cap Rate 9%
$2,209,822
$2.2M
Market Conditions
NOI Build-Up for 10,400 SF
Gross rent
$380.6K $36.60/SF
− Vacancy
−$19.0K −$1.83/SF
EGI
$361.6K $34.77/SF
− OpEx
−$162.7K −$15.65/SF
NOI
$198.9K $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%
$3,977,680
Cap Rate 7%
$2,841,200
Cap Rate 9%
$2,209,822
Alternative Uses
Best Use
Apartment 5plus
$2.84M
$2.49M – $3.31M
NOI $198,884 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.57M
$4.87M – $6.50M
NOI $389,768 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
2,159
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Spacious unit layouts include one-bedroom apartments and a studio in a coastal Long Beach setting.
Where is this apartment building located?
The property is located at 1161 E 1st Street Long Beach, CA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: 12‑unit apartment property totaling 10,400 SF; Unit mix includes eleven one‑bedroom apartments and one studio; One‑bedroom units include eight 925SF layouts and three 800SF layouts
