Renovated Fourplex With Vacant
For Sale
$1,000,000
1136 E Alhambra Ct, Long Beach, CA 90813
Fourplex with three recently renovated units and a ground-floor unit delivered vacant at close of escrow.
Property Size2,368 SF
Days on Market39
Property Features for 1136 E Alhambra Ct
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Investment
Building Details
Building Size
2,368 SF
Year Built
1923
Stories
2
Units
4
Listing Agency:
Buckingham Investments, Inc.
(424) 212-2321
Listed By:
Tyson Storr · License #02179872
Source:
Elliman
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 29 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 Buckingham Investments, Inc.
Investment Insights
Based on property information with market context.
1136 E. Alhambra Court is a well-maintained fourplex featuring recent interior upgrades, with three of the four units fully renovated within the last five years. The ground-floor unit is freshly updated and will be delivered vacant at the close of escrow, providing immediate move-in or lease-up flexibility for the next owner.
Drive-by only; please do not disturb the occupants. Interior inspection is contingent upon an accepted offer.
For buyers seeking owner-occupancy, the property is described as eligible for up to $15,000 in grant funding (buyer to verify eligibility). The remarks also reference low-down-payment financing programs requiring as little as 3.5% down, which may be paired with the available first-time buyer grant to help reduce the initial capital requirement.
Drive-by only; please do not disturb the occupants. Interior inspection is contingent upon an accepted offer.
For buyers seeking owner-occupancy, the property is described as eligible for up to $15,000 in grant funding (buyer to verify eligibility). The remarks also reference low-down-payment financing programs requiring as little as 3.5% down, which may be paired with the available first-time buyer grant to help reduce the initial capital requirement.
Key Highlights
- Well‑maintained fourplex at 1136 E. Alhambra Court
- Three of the four units were fully renovated within the last five years
- Freshly updated ground‑floor unit will be delivered vacant at close of escrow
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
$54,428
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
5.44%
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%
$1,088,560
$1.1M
Cap Rate 7%
$777,543
$777.5K
Cap Rate 9%
$604,756
$604.8K
Market Conditions
NOI Build-Up for 2,368 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 $34.20/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$77.8K $32.84/SF
− OpEx
−$23.3K −$9.85/SF
NOI
$54.4K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /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%
$1,088,560
Cap Rate 7%
$777,543
Cap Rate 9%
$604,756
Alternative Uses
Best Use
Multifamily LT 5
$777.5K
$680.4K – $907.1K
NOI $54,428 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$716.5K
$627.0K – $836.0K
NOI $50,158 @ 7.0% cap · market cap 5.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,533
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
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 - Fourplex with three recently renovated units and a ground-floor unit delivered vacant at close of escrow.
Where is this quadplex located?
The property is located at 1136 E Alhambra Ct Long Beach, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Well‑maintained fourplex at 1136 E. Alhambra Court; Three of the four units were fully renovated within the last five years; Freshly updated ground‑floor unit will be delivered vacant at close of escrow
