Spanish-Style Triplex with
For Sale
$2,198,000
3517 E 2nd, Long Beach, CA 90803
Well-maintained triplex with two- and one-bedroom residences arranged around a private courtyard with pool and spa.
Property Size3,636 SF
Price / SF$604.51
Days on Market56
Property Features for 3517 E 2nd
General Information
Standard status
Active
Size
3,636 SF
Total Parking Spaces
4
Property subtype
Investment
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Building Size
3,636 SF
Year Built
1929
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Specialists
(949) 922-2291
Listed By:
Douglas Kramer · License #01374637
Source:
Elliman
Added: Jun 18
Changed: Aug 7
Last Checked: Aug 11 at 10:22AM
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 RE/MAX Real Estate Specialists
Investment Insights
Based on property information with market context.
La Casa Mariana is a Spanish-style triplex featuring two residential buildings arranged around a private central courtyard. The front building includes two spacious two-bedroom residences, and the rear building offers a one-bedroom residence. Common amenities and exterior improvements include a pool and spa within the courtyard, along with ample off-street parking for residents, including four garage spaces. The property has been lovingly maintained by the same family for more than four decades.
The asset is located in Long Beach’s Bluff Park Historic District, approximately two blocks from the Pacific Ocean. The setting provides walkable access to Bluff Park, the beach, and a collection of restaurants, cafes, and boutiques along Broadway. Belmont Shore’s shopping and dining district is also described as conveniently close, supporting a coastal, amenity-oriented lifestyle.
This configuration can suit an owner-occupant seeking supplemental income or an investor looking for an architectural multi-family asset with multiple independently sized residences. With off-street parking and a private courtyard setting featuring pool and spa, the property is designed to support tenant comfort while maintaining an attractive, distinctive curb presence consistent with its Spanish-style design.
The asset is located in Long Beach’s Bluff Park Historic District, approximately two blocks from the Pacific Ocean. The setting provides walkable access to Bluff Park, the beach, and a collection of restaurants, cafes, and boutiques along Broadway. Belmont Shore’s shopping and dining district is also described as conveniently close, supporting a coastal, amenity-oriented lifestyle.
This configuration can suit an owner-occupant seeking supplemental income or an investor looking for an architectural multi-family asset with multiple independently sized residences. With off-street parking and a private courtyard setting featuring pool and spa, the property is designed to support tenant comfort while maintaining an attractive, distinctive curb presence consistent with its Spanish-style design.
Key Highlights
- Spanish‑style triplex built in 1929 with two front 2‑bedroom residences and one rear 1‑bedroom residence
- Approx. 1,455 SF for each 2‑bedroom unit and approx. 726 SF for the 1‑bedroom unit
- Two structures arranged around a private central courtyard with a pool and spa
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
$78,176
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
3.56%
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%
$1,563,520
$1.6M
Cap Rate 7%
$1,116,800
$1.1M
Cap Rate 9%
$868,622
$868.6K
Market Conditions
NOI Build-Up for 3,636 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
$117.8K $32.40/SF
− Vacancy
−$6.1K −$1.68/SF
EGI
$111.7K $30.72/SF
− OpEx
−$33.5K −$9.21/SF
NOI
$78.2K $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%
$1,563,520
Cap Rate 7%
$1,116,800
Cap Rate 9%
$868,622
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$977.2K – $1.30M
NOI $78,176 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$993.3K
$869.2K – $1.16M
NOI $69,533 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,269 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,371
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
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?
Triplex - Well-maintained triplex with two- and one-bedroom residences arranged around a private courtyard with pool and spa.
Where is this triplex located?
The property is located at 3517 E 2nd Long Beach, CA.
What is the asking price?
The asking price for this property is $2,198,000.
What are key features of this property?
This property features: Spanish‑style triplex built in 1929 with two front 2‑bedroom residences and one rear 1‑bedroom residence; Approx. 1,455 SF for each 2‑bedroom unit and approx. 726 SF for the 1‑bedroom unit; Two structures arranged around a private central courtyard with a pool and spa
