Value-Add 12-Unit Apartment
1229 E 4th Street Long Beach, CA 90802
1229 E 4th Street, Long Beach, CA, 90802
Contact for pricing
For Sale
Contact for pricing
Pending
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 Market231
Property Features for 1229 E 4th Street
General Information
- Standard status
- Pending
- Size
- 7,442 SF
- Lot size
- 0.15 Acres
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap
(562) 257-1246
Listed by
Kevin King · License #01158184
Source
Crexi
Added: Dec 2, 2025 Updated: Jul 20 at 8:35PM Checked: Jul 21 at 8:56AM
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
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
Local 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 | $272.4k | $36.60 |
| − Vacancy | −$13.6k | −$1.83 |
| EGI | $258.8k | $34.77 |
| − OpEx | −$116.4k | −$15.65 |
| NOI | $142.3k | $19.12 |
7,442 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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
