Value-Add 12-Unit Apartment
For Sale
Contact for pricing
Pending
1229 E 4th Street, Long Beach, CA 90802
Built in 1936, the property offers twelve one-bedroom, one-bath units with separate gas and electric metering plus seven garages.
Property Size7,442 SF
Lot Size0.15 Acres
Days on Market336
Property Features for 1229 E 4th Street
General Information
Standard status
Pending
Size
7,442 SF
Total Parking Spaces
7
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
Assessor
Site & Location
Neighborhood
North Alamitos Beach
Additional Details
Multifamily Units
12
Building Details
Year Built
1936
Buildings
2
Stories
2
Units
12
Listing Agency:
Marcus & Millichap
Listed By:
Kevin King · License #01158184
(562) 257-1246
Source:
Crexi
Added: Dec 2, 2025
Changed: Oct 26
Last Checked: Nov 1 at 6:03AM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
This for-sale apartment building includes 12 units in a configuration of all one-bedroom, one-bath residences. The property was built in 1936 and totals 6 parcels with a combined 6,745 square foot lot and 7,442 rentable square feet. The building is separately metered for gas and electricity, and there are seven garages that generate additional income.
The property is located in Long Beach near the Alamitos Beach area, with proximity to 4th Street Retro Row, Downtown Long Beach, and 2nd Street in Belmont Shore, where there are restaurants, shops, bars, grocery stores, and entertainment venues.
With all units being one-bedroom, one-bath apartments and the added revenue from garage spaces, the property offers a straightforward multifamily setup with separate utility metering.
The property is located in Long Beach near the Alamitos Beach area, with proximity to 4th Street Retro Row, Downtown Long Beach, and 2nd Street in Belmont Shore, where there are restaurants, shops, bars, grocery stores, and entertainment venues.
With all units being one-bedroom, one-bath apartments and the added revenue from garage spaces, the property offers a straightforward multifamily setup with separate utility metering.
Key Highlights
- 12‑unit apartment building at 1229–1231 E. 4th Street, Long Beach, CA
- All units are 1‑bedroom/1‑bath, built in 1936
- Property totals 7,442 rentable SF on a 6,745 SF lot across 6 parcels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,317
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,846,340
$2.8M
Cap Rate 7%
$2,033,100
$2.0M
Cap Rate 9%
$1,581,300
$1.6M
Market Conditions
NOI Build-Up for 7,442 SF
Gross rent
$272.4K $36.60/SF
− Vacancy
−$13.6K −$1.83/SF
EGI
$258.8K $34.77/SF
− OpEx
−$116.4K −$15.65/SF
NOI
$142.3K $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%
$2,846,340
Cap Rate 7%
$2,033,100
Cap Rate 9%
$1,581,300
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,317 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.49M – $4.65M
NOI $278,909 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
2,836
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1936, the property offers twelve one-bedroom, one-bath units with separate gas and electric metering plus seven garages.
Where is this apartment building located?
The property is located at 1229 E 4th Street Long Beach, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 12‑unit apartment building at 1229–1231 E. 4th Street, Long Beach, CA; All units are 1‑bedroom/1‑bath, built in 1936; Property totals 7,442 rentable SF on a 6,745 SF lot across 6 parcels
