Remodeled Home with New
For Sale
$849,900
Pending
2033 W Burnett St, Long Beach, CA 90810
Remodeled front home and new construction ADU in Long Beach.
Property Size1,400 SF
Days on Market131
Property Features for 2033 W Burnett St
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Investment
Building Details
Building Size
1,400 SF
Year Built
2024
Stories
1
Units
2
Listing Agency:
Villa Realty Group
(714) 315-3920
Listed By:
Linda Corpuz · License #01170779
(714) 315-3920
Source:
Elliman
Added: Apr 24
Changed: Aug 28
Last Checked: Aug 26 at 8:30AM
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 Villa Realty Group
Investment Insights
Based on property information with market context.
This property features a newly remodeled front home and a new construction Accessory Dwelling Unit (ADU). Located in a Westside neighborhood, the property is within walking distance of an elementary school, middle school, and high school. The front house is a 2-bedroom, 1-bath home with a fenced front yard. The back house, a new construction from 2024, features 2 bedrooms and 2 bathrooms, walk-in closets, and stackable washer and dryer hookups. Both homes are equipped with air conditioning. The property includes a gated driveway and a spacious front patio for each home. It is currently fully rented and is a short drive to Terminal Island and Long Beach Harbor. The bike score is 57, indicating it is bikeable, the walk score is 65, indicating it is somewhat walkable, and the transit score is 45, indicating some transit options are available.
Key Highlights
- New construction ADU (2 bed, 2 bath) built in 2024.
- Remodeled front house offering 2 beds and 1 bath.
- Both homes feature AC.
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
$30,101
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
3.54%
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%
$602,020
$602.0K
Cap Rate 7%
$430,014
$430.0K
Cap Rate 9%
$334,456
$334.5K
Market Conditions
NOI Build-Up for 1,400 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
$45.4K $32.40/SF
− Vacancy
−$2.4K −$1.68/SF
EGI
$43.0K $30.72/SF
− OpEx
−$12.9K −$9.21/SF
NOI
$30.1K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /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%
$602,020
Cap Rate 7%
$430,014
Cap Rate 9%
$334,456
Alternative Uses
Best Use
Multifamily LT 5
$430.0K
$376.3K – $501.7K
NOI $30,101 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,773 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$749.6K
$655.9K – $874.5K
NOI $52,469 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 90810, CA
38,529
Population
10,294
Households
3.7
Avg Household Size
37
Median Age
21%
College-Educated
76%
High-School Grad
6.5 sq mi
ZIP Area
5,928
Density / Sq Mi
$82,222
Median Household Income
$39,397
Median Earnings
$1,554
Median Rent
$594,200
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 - Remodeled front home and new construction ADU in Long Beach.
Where is this duplex located?
The property is located at 2033 W Burnett St Long Beach, CA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: New construction ADU (2 bed, 2 bath) built in 2024.; Remodeled front house offering 2 beds and 1 bath.; Both homes feature AC.
