4-Unit Apartment
For Sale
$1,399,900
117 W 9th St, Long Beach, CA 90813
Long Beach multifamily property with two vacant two-bedroom units and immediate owner-occupancy or lease-up flexibility.
Property Size3,240 SF
Price / SF$432.07
Days on Market29
Property Features for 117 W 9th St
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Residential Income
Occupancy
50%
Net Operating Income
$22,870
Additional Details
Asking Price
$1,399,900
Multifamily Units
4
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Kory Jackson · License #01315324
(310) 717-3720
Source:
Exprealty
Added: Aug 9
Changed: Sep 4
Last Checked: Sep 6 at 11:45AM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
This 4-unit multifamily property in Long Beach contains 3,240 square feet and includes two vacant 2-bedroom units alongside two occupied residences. The vacancy profile gives a buyer immediate control of half the building for personal occupancy, renovation, or future leasing, while the occupied units provide established tenancy.
Located at 117 W. 9th St, the property can also be acquired with 1089 E. 7th Street as part of a portfolio sale. Available strategies include occupying one unit, leasing the vacant residences, improving the property, or holding the asset as part of a broader multifamily portfolio. Rents, expenses, vacancies, unit configuration, permits, zoning, and owner-occupancy requirements should be independently verified.
Located at 117 W. 9th St, the property can also be acquired with 1089 E. 7th Street as part of a portfolio sale. Available strategies include occupying one unit, leasing the vacant residences, improving the property, or holding the asset as part of a broader multifamily portfolio. Rents, expenses, vacancies, unit configuration, permits, zoning, and owner-occupancy requirements should be independently verified.
Key Highlights
- 4‑unit multifamily property with 3,240 square feet
- Two vacant 2‑bedroom units provide control of 50% of the building
- Two units are currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,471
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,489,420
$1.5M
Cap Rate 7%
$1,063,871
$1.1M
Cap Rate 9%
$827,456
$827.5K
Market Conditions
NOI Build-Up for 3,240 SF
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.
Gross rent
$110.8K $34.20/SF
− Vacancy
−$4.4K −$1.36/SF
EGI
$106.4K $32.84/SF
− OpEx
−$31.9K −$9.85/SF
NOI
$74.5K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,489,420
Cap Rate 7%
$1,063,871
Cap Rate 9%
$827,456
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.9K – $1.24M
NOI $74,471 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$980.4K
$857.9K – $1.14M
NOI $68,628 @ 7.0% cap · market cap 4.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,898
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
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?
Quadplex - Long Beach multifamily property with two vacant two-bedroom units and immediate owner-occupancy or lease-up flexibility.
Where is this quadplex located?
The property is located at 117 W 9th St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: 4‑unit multifamily property with 3,240 square feet; Two vacant 2‑bedroom units provide control of 50% of the building; Two units are currently occupied
