Multifamily Investment in Long
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1403 Lemon Avenue, Long Beach, CA 90813
Five-unit income property in Long Beach with strong cash flow.
Property Size2,700 SF
Lot Size0.15 Acres
Price / SF$462.96
Days on Market509
Property Features for 1403 Lemon Avenue
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
Public Rec
Site & Location
Neighborhood
Central
Building Details
Buildings
2
Stories
1
Units
5
Listing Agency:
Beverly and Company
Listed By:
Milla Pariser · License #02006267
(818) 271-1233
Source:
Crexi
Added: Jun 11, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:16PM
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 Beverly and Company
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Investment Insights
Based on property information with market context.
Located in Long Beach, California, 1403 Lemon Avenue is a five-unit multifamily property situated on a 6,519 square foot lot. The property has a combined living area of approximately 2,700 square feet and is currently 100% occupied. The unit mix includes one detached 4-bedroom, 2-bath front house, one 4-bedroom, 1-bath unit, and three 2-bedroom, 1-bath units. The property is positioned in a rapidly appreciating area. The property delivers an 8.76% cap rate. There is potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen.
Key Highlights
- High 8.76% Cap Rate: Delivers strong in‑place cash flow, a rare find in Southern California.
- 100% Occupancy: Ensures a reliable and consistent income stream.
- Upside Potential: Below‑market rents offer significant opportunity for rental increases and value appreciation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,190
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,800
$1.1M
Cap Rate 7%
$817,000
$817.0K
Cap Rate 9%
$635,444
$635.4K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$108.5K $40.20/SF
− Vacancy
−$4.6K −$1.69/SF
EGI
$104.0K $38.51/SF
− OpEx
−$46.8K −$17.33/SF
NOI
$57.2K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,800
Cap Rate 7%
$817,000
Cap Rate 9%
$635,444
Alternative Uses
Best Use
Apartment 5plus
$817.0K
$714.9K – $953.2K
NOI $57,190 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$886.6K
$775.7K – $1.03M
NOI $62,059 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,693
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit income property in Long Beach with strong cash flow.
Where is this apartment building located?
The property is located at 1403 Lemon Avenue 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: High 8.76% Cap Rate: Delivers strong in‑place cash flow, a rare find in Southern California.; 100% Occupancy: Ensures a reliable and consistent income stream.; Upside Potential: Below‑market rents offer significant opportunity for rental increases and value appreciation.
