Four-Unit Quadplex with
For Sale
$1,200,000
1242 East 7th Street, Long Beach, CA 90813
Multifamily property with detached garage structures, laundry facilities, and flexible occupancy potential.
Property Size2,875 SF
Days on Market74
Property Features for 1242 East 7th Street
General Information
Standard status
Active
Size
2,875 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
CNR
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
laundry room
Building Details
Building Size
2,875 SF
Year Built
1911
Listing Agency:
Young Lewin Advisors
Listed By:
Daniel Gomez · License #CalDRE #02081392
(562) 266-7629
Source:
Younglewin
Added: Jun 25
Changed: Sep 6
Last Checked: Sep 6 at 6:17AM
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.
Built in 1911, this Long Beach quadplex contains four income-producing units, including three conforming units and one non-conforming unit. The property includes five detached garages and a separate laundry room, adding functional support space and potential ancillary income. Electrical systems were comprehensively rewired in 2003.
The property is located at 1242 East 7th Street in Long Beach, near Belmont Shore, Retro Row, Downtown Long Beach, and Alamitos Beach. Freeway access is described as convenient, while the location records a 92 Walk Score and 90 Bike Score. CNR zoning and the stated lot configuration may support future planning for an additional detached ADU, subject to applicable approvals and requirements.
The property is located at 1242 East 7th Street in Long Beach, near Belmont Shore, Retro Row, Downtown Long Beach, and Alamitos Beach. Freeway access is described as convenient, while the location records a 92 Walk Score and 90 Bike Score. CNR zoning and the stated lot configuration may support future planning for an additional detached ADU, subject to applicable approvals and requirements.
Key Highlights
- Four total units: 3 conforming units plus 1 non‑conforming unit
- Five detached garages and a separate laundry room
- Electrical system rewired in 2003
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
$66,081
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
5.51%
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%
$1,321,620
$1.3M
Cap Rate 7%
$944,014
$944.0K
Cap Rate 9%
$734,233
$734.2K
Market Conditions
NOI Build-Up for 2,875 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
$98.3K $34.20/SF
− Vacancy
−$3.9K −$1.36/SF
EGI
$94.4K $32.84/SF
− OpEx
−$28.3K −$9.85/SF
NOI
$66.1K $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%
$1,321,620
Cap Rate 7%
$944,014
Cap Rate 9%
$734,233
Alternative Uses
Best Use
Multifamily LT 5
$944.0K
$826.0K – $1.10M
NOI $66,081 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$869.9K
$761.2K – $1.01M
NOI $60,896 @ 7.0% cap · market cap 5.07%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,250
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 - Multifamily property with detached garage structures, laundry facilities, and flexible occupancy potential.
Where is this quadplex located?
The property is located at 1242 East 7th Street Long Beach, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four total units: 3 conforming units plus 1 non‑conforming unit; Five detached garages and a separate laundry room; Electrical system rewired in 2003
