Four-Unit Multifamily Investment
For Sale
$1,250,000
6645 N Hammond Ave, Long Beach, CA 90805
Built in 1959, this four-unit multifamily offers two-bed, one-bath units with in-unit laundry hookups and surface parking.
Property Size3,000 SF
Lot Size0.12 Acres
Price / SF$416.67
Days on Market119
Property Features for 6645 N Hammond Ave
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
5
Lot size
0.12 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
5.62%
Multifamily Units
4
Amenities
in-unit laundry hookups
individual water heaters
Desirable unit mix comprised entirely of spacious 2 bed/1 bath units with in-unit laundry hookups and individual water heaters.
Well-maintained 1959 construction featuring drought-resistant landscaping and approximately 3,000 rentable square feet.
Five surface parking spaces currently not separately monetized, providing potential additional income upside for new ownership.
Rear parking area may offer ground-up ADU development potential, subject to city requirements and approval by authorities.
Located near Target, Food 4 Less, Lakewood Center, and major retail corridors with easy access to SR-91 and surrounding cities.
Adjacent 4-unit property at 6641 Hammond Avenue also available, creating an opportunity for an 8-unit contiguous assemblage.
Building Details
Building Size
3,000 SF
Year Built
1959
Units
4
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Christian Tait · License #License(s): CA: 02111248
(949) 419-3282
Source:
Marcusmillichap
Added: May 10
Changed: Sep 4
Last Checked: Aug 3 at 11:54AM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
6645 Hammond Avenue is a 1959-built four-unit multifamily property offering two-bedroom, one-bathroom units. The building includes practical unit-level amenities such as in-unit laundry hookups and individual water heaters, along with five surface parking spaces.
The property is located in Long Beach, California, with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are approximately 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, and about 2.5 miles from Lakewood Center.
This offering is presented as an in-place rental investment with potential for additional income from currently unmonetized surface parking and possible rear-area accessory dwelling unit development, subject to Long Beach requirements, site constraints, parking considerations, and municipal approvals.
The property is located in Long Beach, California, with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are approximately 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, and about 2.5 miles from Lakewood Center.
This offering is presented as an in-place rental investment with potential for additional income from currently unmonetized surface parking and possible rear-area accessory dwelling unit development, subject to Long Beach requirements, site constraints, parking considerations, and municipal approvals.
Key Highlights
- 4‑unit multifamily built in 1959 with all units configured as 2 bed / 1 bath
- Approximately 3,000 net rentable SF on a 0.12‑acre parcel
- In‑unit laundry hookups and individual water heaters for added resident convenience
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
$54,279
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
4.34%
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%
$1,085,580
$1.1M
Cap Rate 7%
$775,414
$775.4K
Cap Rate 9%
$603,100
$603.1K
Market Conditions
NOI Build-Up for 3,000 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
$81.0K $27.00/SF
− Vacancy
−$3.5K −$1.15/SF
EGI
$77.5K $25.85/SF
− OpEx
−$23.3K −$7.75/SF
NOI
$54.3K $18.09/SF
Area
ZIP 90805
Vacancy
4.27%
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%
$1,085,580
Cap Rate 7%
$775,414
Cap Rate 9%
$603,100
Alternative Uses
Best Use
Multifamily LT 5
$775.4K
$678.5K – $904.7K
NOI $54,279 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$715.8K
$626.4K – $835.2K
NOI $50,109 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$898.6K
$786.2K – $1.05M
NOI $62,899 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 90805, CA
95,350
Population
28,954
Households
3.3
Avg Household Size
34
Median Age
18%
College-Educated
74%
High-School Grad
7.4 sq mi
ZIP Area
12,885
Density / Sq Mi
$68,615
Median Household Income
$34,948
Median Earnings
$1,664
Median Rent
$588,500
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?
Quadplex - Built in 1959, this four-unit multifamily offers two-bed, one-bath units with in-unit laundry hookups and surface parking.
Where is this quadplex located?
The property is located at 6645 N Hammond Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4‑unit multifamily built in 1959 with all units configured as 2 bed / 1 bath; Approximately 3,000 net rentable SF on a 0.12‑acre parcel; In‑unit laundry hookups and individual water heaters for added resident convenience
