Six-Unit Apartment
New
For Sale
$1,325,000
2123 E 7th St, Long Beach, CA 90804
Three separate structures include a fourplex, detached residences, garages, and surface parking on an oversized lot.
Property Size4,428 SF
Days on Market5
Property Features for 2123 E 7th St
General Information
Standard status
Active
Size
4,428 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Building Details
Building Size
4,428 SF
Year Built
1923
Buildings
3
Listing Agency:
Young Lewin Advisors
(562) 556-1118
Listed By:
Shane Young · License #CalDRE #01963090
(562) 556-1118
Source:
Younglewin
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 12 at 5:08AM
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 Young Lewin Advisors
Investment Insights
Based on property information with market context.
This six-unit apartment property comprises three separate structures on an oversized lot: a fourplex and two detached units. The unit mix includes four 2 Bed/1 Bath residences and two 1 Bed/1 Bath residences. Two single-car garages and additional surface parking are included. Built in 1923, the property also features a roof installed in 2020, and all SB721 balcony work is complete. The source information also identifies potential for a garage conversion to an ADU or additional units above.
The property is at 2123 E 7th St in Long Beach’s Rose Park area, with access to Alamitos Beach, the 4th Street dining and retail corridor, Downtown Long Beach, and CSULB. Beach access is also noted.
The property is at 2123 E 7th St in Long Beach’s Rose Park area, with access to Alamitos Beach, the 4th Street dining and retail corridor, Downtown Long Beach, and CSULB. Beach access is also noted.
Key Highlights
- Six units across a fourplex and 2 detached structures
- Unit mix includes four 2 Bed/1 Bath units and two 1 Bed/1 Bath units
- Oversized lot with 2 single‑car garages and surface parking
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
$84,679
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
6.39%
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%
$1,693,580
$1.7M
Cap Rate 7%
$1,209,700
$1.2M
Cap Rate 9%
$940,878
$940.9K
Market Conditions
NOI Build-Up for 4,428 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
$162.1K $36.60/SF
− Vacancy
−$8.1K −$1.83/SF
EGI
$154.0K $34.77/SF
− OpEx
−$69.3K −$15.65/SF
NOI
$84.7K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /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%
$1,693,580
Cap Rate 7%
$1,209,700
Cap Rate 9%
$940,878
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,679 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.77M
NOI $165,951 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
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?
Apartment building - Three separate structures include a fourplex, detached residences, garages, and surface parking on an oversized lot.
Where is this apartment building located?
The property is located at 2123 E 7th St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Six units across a fourplex and 2 detached structures; Unit mix includes four 2 Bed/1 Bath units and two 1 Bed/1 Bath units; Oversized lot with 2 single‑car garages and surface parking
