Updated Four-Unit
For Sale
$1,960,000
Pending
70 Roycroft ave, Long Beach, CA 90803
Three permitted units are remodeled, with shared laundry and major building upgrades completed in 2023.
Property Size2,777 SF
Days on Market95
Property Features for 70 Roycroft ave
General Information
Standard status
Pending
Size
2,777 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Amenities
shared laundry room
Building Details
Building Size
2,777 SF
Year Built
1950
Year Renovated
2023
Stories
2
Units
4
Listed By:
Ben Koin
Source:
Elliman
Added: Jun 4
Changed: Aug 31
Last Checked: Aug 30 at 4:00PM
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 Ben Koin
Investment Insights
Based on property information with market context.
Built in 1950, 70 Roycroft Ave is a four-unit quadplex with three permitted units remodeled. Property improvements include replacement windows throughout, updated plumbing, and electrical panel upgrades completed in 2023. A shared laundry room provides an additional resident amenity, while the remaining unit offers a different condition profile within the overall configuration.
The property is in Belmont Heights in Long Beach, near the beach, Belmont Shore, and the dining and retail offerings along 2nd Street. Parks, marinas, schools, local cafes, and major freeways are also identified in the surrounding area. Walk Score is 75, Bike Score is 76, and Transit Score is 34.
The property is in Belmont Heights in Long Beach, near the beach, Belmont Shore, and the dining and retail offerings along 2nd Street. Parks, marinas, schools, local cafes, and major freeways are also identified in the surrounding area. Walk Score is 75, Bike Score is 76, and Transit Score is 34.
Key Highlights
- Four‑unit quadplex built in 1950
- Three of four permitted units have been remodeled
- New windows throughout the property
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
$59,707
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
3.05%
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%
$1,194,140
$1.2M
Cap Rate 7%
$852,957
$853.0K
Cap Rate 9%
$663,411
$663.4K
Market Conditions
NOI Build-Up for 2,777 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
$90.0K $32.40/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$85.3K $30.72/SF
− OpEx
−$25.6K −$9.21/SF
NOI
$59.7K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /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%
$1,194,140
Cap Rate 7%
$852,957
Cap Rate 9%
$663,411
Alternative Uses
Best Use
Multifamily LT 5
$853.0K
$746.3K – $995.1K
NOI $59,707 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$758.7K
$663.8K – $885.1K
NOI $53,106 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,076 @ 7.0% cap · market cap 5.31%
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
1,574
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
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 - Three permitted units are remodeled, with shared laundry and major building upgrades completed in 2023.
Where is this quadplex located?
The property is located at 70 Roycroft ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1950; Three of four permitted units have been remodeled; New windows throughout the property
