Oversized Duplex with Two
For Sale
Contact for pricing
1235-1237 E 15th Street, Long Beach, CA 90813
Built in 2002, this two-unit duplex offers 6 bedrooms and 5 bathrooms on a large lot in Long Beach.
Property Size3,419 SF
Lot Size1.01 Acres
Price / SF$438.72
Days on Market76
Property Features for 1235-1237 E 15th Street
General Information
Standard status
Active
Size
3,419 SF
Lot size
1.01 Acres
Property subtype
Multifamily
Zoning
Public Rec
Additional Details
Multifamily Units
2
Building Details
Year Built
2002
Buildings
3
Units
2
Listing Agency:
Truth Realty
(661) 599-0432
Listed By:
Sherry Simpson · License #00757181
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Jun 20 at 2:56AM
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 Truth Realty
Investment Insights
Based on property information with market context.
Built in 2002, this duplex is designed as two separate units within a single property. The home totals approximately 3,419 square feet and includes 6 bedrooms and 5 bathrooms across the two units. Set on an approximately 10,055 square foot lot, the layout supports flexible day-to-day living and tenant use.
Located at 1235-1237 E 15th Street in Long Beach, the property’s duplex configuration makes it practical for buyers seeking a multi-unit setup rather than a single-family home. With two units on one parcel, ownership can simplify management compared with acquiring two separate properties.
For owner-occupants and investors alike, the core value here is the two-unit structure paired with a relatively newer build date and a sizable lot. The bedroom-and-bathroom mix across both units can accommodate a range of household needs, while the overall property design supports continued rental use as a duplex. If you’re looking for a Long Beach residential income property with defined unit separation and a newer construction baseline, this one is worth reviewing.
Located at 1235-1237 E 15th Street in Long Beach, the property’s duplex configuration makes it practical for buyers seeking a multi-unit setup rather than a single-family home. With two units on one parcel, ownership can simplify management compared with acquiring two separate properties.
For owner-occupants and investors alike, the core value here is the two-unit structure paired with a relatively newer build date and a sizable lot. The bedroom-and-bathroom mix across both units can accommodate a range of household needs, while the overall property design supports continued rental use as a duplex. If you’re looking for a Long Beach residential income property with defined unit separation and a newer construction baseline, this one is worth reviewing.
Key Highlights
- Built in 2002 two‑unit duplex in Long Beach
- Total 3,419 SF with 6 bedrooms and 5 bathrooms
- Large 10,055 SF lot
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
$78,585
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
5.24%
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%
$1,571,700
$1.6M
Cap Rate 7%
$1,122,643
$1.1M
Cap Rate 9%
$873,167
$873.2K
Market Conditions
NOI Build-Up for 3,419 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
$116.9K $34.20/SF
− Vacancy
−$4.7K −$1.36/SF
EGI
$112.3K $32.84/SF
− OpEx
−$33.7K −$9.85/SF
NOI
$78.6K $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%
$1,571,700
Cap Rate 7%
$1,122,643
Cap Rate 9%
$873,167
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.3K – $1.31M
NOI $78,585 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$1.03M
$905.2K – $1.21M
NOI $72,419 @ 7.0% cap · market cap 4.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,270
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?
Duplex - Built in 2002, this two-unit duplex offers 6 bedrooms and 5 bathrooms on a large lot in Long Beach.
Where is this duplex located?
The property is located at 1235-1237 E 15th Street Long Beach, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Built in 2002 two‑unit duplex in Long Beach; Total 3,419 SF with 6 bedrooms and 5 bathrooms; Large 10,055 SF lot
