Three-Unit Residential Income
For Sale
$2,199,000
2015 San Francisco Ave, Long Beach, CA 90806
Remodeled vintage main home plus two newly built residences for flexible owner-occupant or rental use in Wrigley.
Property Size3,590 SF
Days on Market78
Property Features for 2015 San Francisco Ave
General Information
Standard status
Active
Size
3,590 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Building Details
Building Size
3,590 SF
Year Built
1929
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Agentdesks Incorporated
(562) 754-0660
Listed By:
Mark Perez · License #01279393
Source:
Elliman
Added: Jun 17
Changed: Aug 23
Last Checked: Sep 1 at 6:22PM
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 Agentdesks Incorporated
Investment Insights
Based on property information with market context.
2015 San Francisco Ave is a three-unit residential income property featuring a remodeled main residence with vintage charm and modern updates. The home includes fresh exterior finishes, a custom metal gate and wood fencing, lime-washed walls, refinished hardwood floors, a custom-designed kitchen, and spa-inspired bathrooms. Modern mechanical upgrades include a new HVAC system and a tankless water heater. Outside, there is a private backyard retreat with a new patio, lush landscaping, and a stock tank pool.
In addition to the main home, the property offers two newer units. A newly constructed 1,200 sq. ft. ADU includes 4 bedrooms and 2 bathrooms. A newly built 1,200 sq. ft. SB9 residence also provides 4 bedrooms and 2 bathrooms, supporting flexible living arrangements such as multigenerational use or separate rental households. The bike score is listed at 76 (Very Bikeable), walk score at 87 (Very Walkable), and transit score at 70 (Excellent Transit).
For tenants, the layout supports larger households with multiple bedrooms and two-bath configurations in both the ADU and SB9 residence. For buyers, the property’s combination of a remodeled main home and two newly constructed units provides three separate income opportunities, with projected rental income of approximately $4,500 per month for both the ADU and SB9 unit.
In addition to the main home, the property offers two newer units. A newly constructed 1,200 sq. ft. ADU includes 4 bedrooms and 2 bathrooms. A newly built 1,200 sq. ft. SB9 residence also provides 4 bedrooms and 2 bathrooms, supporting flexible living arrangements such as multigenerational use or separate rental households. The bike score is listed at 76 (Very Bikeable), walk score at 87 (Very Walkable), and transit score at 70 (Excellent Transit).
For tenants, the layout supports larger households with multiple bedrooms and two-bath configurations in both the ADU and SB9 residence. For buyers, the property’s combination of a remodeled main home and two newly constructed units provides three separate income opportunities, with projected rental income of approximately $4,500 per month for both the ADU and SB9 unit.
Key Highlights
- 1929‑built property with remodeled main residence plus two newly built units for flexible owner‑occupant or rental use
- Newly constructed 1,200 SF ADU with 4 bedrooms and 2 bathrooms
- Newly built 1,200 SF SB9 residence with 4 bedrooms and 2 bathrooms
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
$64,323
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
2.93%
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%
$1,286,460
$1.3M
Cap Rate 7%
$918,900
$918.9K
Cap Rate 9%
$714,700
$714.7K
Market Conditions
NOI Build-Up for 3,590 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
$96.9K $27.00/SF
− Vacancy
−$5.0K −$1.40/SF
EGI
$91.9K $25.60/SF
− OpEx
−$27.6K −$7.68/SF
NOI
$64.3K $17.92/SF
Area
ZIP 90806
Vacancy
5.20%
Lease Rate
$27.00 /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%
$1,286,460
Cap Rate 7%
$918,900
Cap Rate 9%
$714,700
Alternative Uses
Best Use
Multifamily LT 5
$918.9K
$804.0K – $1.07M
NOI $64,323 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$825.8K
$722.6K – $963.4K
NOI $57,806 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,545 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 90806, CA
41,611
Population
13,106
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
72%
High-School Grad
4.9 sq mi
ZIP Area
8,492
Density / Sq Mi
$73,674
Median Household Income
$36,691
Median Earnings
$1,672
Median Rent
$699,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Remodeled vintage main home plus two newly built residences for flexible owner-occupant or rental use in Wrigley.
Where is this triplex located?
The property is located at 2015 San Francisco Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: 1929‑built property with remodeled main residence plus two newly built units for flexible owner‑occupant or rental use; Newly constructed 1,200 SF ADU with 4 bedrooms and 2 bathrooms; Newly built 1,200 SF SB9 residence with 4 bedrooms and 2 bathrooms
