Four-Unit Multifamily
2129 Locust Ave Long Beach, CA 90806
For Sale
$975,000
Four-unit multifamily property built in 1928 with ADU.
Property Size2,351 SF
Lot Size0.14 Acres
Price / SF$414.72
Days on Market107
Property Features for 2129 Locust Ave
General Information
- Standard status
- Active
- Size
- 2,351 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multifamily
Listing Agency:
(562) 257-1259
Listed By:
Kyle R. Blair · License #License(s): CA: 02091539
(562) 257-1259
Source:
Marcusmillichap
Added: Apr 9
Changed: Jul 10
Last Checked: Jul 23 at 2:39AM
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 Kyle R. Blair
Investment Insights
Based on property information with market context.
This four-unit multifamily property, originally built in 1928 as a triplex, offers 2,351 rentable square feet on a 6,258 square foot lot. The property features a two-bedroom plus den and one-bathroom house, along with two existing one-bedroom and one-bathroom units, and one brand new one-bedroom ADU. It also includes three garages and one storage space.
Key Highlights
- Brand new one bedroom ADU, a fantastic addition.
- Four units providing multiple income streams.
- Two Bedroom + Den / One Bathroom House included.
Financial Insights For Multifamily LT 5
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 | $63.5k | $27.00 |
| − Vacancy | −$3.3k | −$1.40 |
| EGI | $60.2k | $25.60 |
| − OpEx | −$18.1k | −$7.68 |
| NOI | $42.1k | $17.92 |
2,351 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.5K – $702.1K
NOI $42,123 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$540.8K
$473.2K – $630.9K
NOI $37,856 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,110 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit multifamily property built in 1928 with ADU.
Where is this quadplex located?
The property is located at 2129 Locust Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Brand new one bedroom ADU, a fantastic addition.; Four units providing multiple income streams.; Two Bedroom + Den / One Bathroom House included.
