Multifamily Income
For Sale
$1,199,000
1273 Chestnut Avenue, Long Beach, CA 90813
Tenant-occupied multifamily property in Long Beach with strong walkability and excellent transit scores.
Property Size3,042 SF
Price / SF$394.15
Days on Market193
Property Features for 1273 Chestnut Avenue
General Information
Standard status
Active
Size
3,042 SF
Property subtype
Residential Income / Fourplex
Zoning
Assessor
Net Operating Income
$76,360
Building Details
Year Built
1928
Buildings
2
Units
4
Listing Agency:
Compass
Listed By:
Joshua Hammond · License #01815056
(424) 903-9319
Source:
Compass
Added: Mar 5
Changed: Sep 13
Last Checked: Sep 13 at 10:30AM
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 Compass
Investment Insights
Based on property information with market context.
This tenant-occupied multifamily property offers day-one occupancy at acquisition. The asset is positioned for investors seeking current income with the opportunity to increase performance as conditions allow.
Located in Long Beach, the property provides easy access to major freeways and public transit. WalkScore of 87 indicates a very walkable setting, BikeScore of 76 reflects a very bikeable area, and transitScore of 70 is listed as excellent transit.
Located in Long Beach, the property provides easy access to major freeways and public transit. WalkScore of 87 indicates a very walkable setting, BikeScore of 76 reflects a very bikeable area, and transitScore of 70 is listed as excellent transit.
Key Highlights
- 1928‑built tenant‑occupied multifamily property in Long Beach
- BikeScore 76 (Very Bikeable), WalkScore 87 (Very Walkable), and TransitScore 70 (Excellent Transit)
- Located with easy access to major freeways, public transit, and Downtown Long Beach
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
$64,434
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
5.37%
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%
$1,288,680
$1.3M
Cap Rate 7%
$920,486
$920.5K
Cap Rate 9%
$715,933
$715.9K
Market Conditions
NOI Build-Up for 3,042 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
$122.3K $40.20/SF
− Vacancy
−$5.1K −$1.69/SF
EGI
$117.2K $38.51/SF
− OpEx
−$52.7K −$17.33/SF
NOI
$64.4K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,288,680
Cap Rate 7%
$920,486
Cap Rate 9%
$715,933
Alternative Uses
Best Use
Apartment 5plus
$920.5K
$805.4K – $1.07M
NOI $64,434 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$998.9K
$874.0K – $1.17M
NOI $69,920 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,854
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
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Tenant-occupied multifamily property in Long Beach with strong walkability and excellent transit scores.
Where is this multifamily property located?
The property is located at 1273 Chestnut Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 1928‑built tenant‑occupied multifamily property in Long Beach; BikeScore 76 (Very Bikeable), WalkScore 87 (Very Walkable), and TransitScore 70 (Excellent Transit); Located with easy access to major freeways, public transit, and Downtown Long Beach
