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    Five-Unit Apartment Building Title is generated by Realmo AI

    1403 Lemon Avenue, Long Beach, CA 90813

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    For Sale
    $1,395,000

    Single Family Residence - Long Beach, CA

    Type:Single Family Residence
    Property size:
    2,700 SF
    Lot size:
    6,603.00 Acres
    Price / SF:
    $516/SF
    Added:
    May 20, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 3 at 4:06 pm

    Property Features for 1403 Lemon Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    LBR1N
    Bedrooms
    14
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Exterior features
    Community Features Included: Curbs, Street Lights, Storm Drains, Sidewalks, Lot 6500-9999, Landscaped, Near Public Transit, Front Yard
    Standard status
    Active
    APN
    7268015033
    Size
    2,700 SF
    Lot size
    6,603.00 Acres

    Building Details

    Year built
    1924
    Floors in Building
    1
    Number of units
    5
    Architectural style
    Other

    We can help!

    Listing Contact
    Milla Pariser

    Listing agent Milla Pariser License #02006267

    Listing office Beverly and Company 23801 Calabasas Rd., SHERMAN OAKS, CA

    Listing date May 20, 2026

    MLS# SR26107777 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Five‑unit multifamily property at 1403 Lemon Avenue, built in 1924
    • 6,519 SF lot with approximately 2,700 SF combined living area across five distinct units
    • Unit mix includes one detached 4BR/2BA front house, one 4BR/1BA unit, and three 2BR/1BA units
    • Two vacancies reported; listed with an 8.76% cap rate
    • Parking includes four garages plus two uncovered driveway spaces
    • Outdoor/community features include curbs, street lights, storm drains, sidewalks, and landscaped areas

    Overview

    1403 Lemon Avenue is a five-unit multifamily property totaling approximately 2,700 square feet of combined living area, situated on a 6,519 square foot lot. The unit mix includes one detached 4-bedroom, 2-bath front house, one additional 4-bedroom, 1-bath unit, and three 2-bedroom, 1-bath units. The property also features parking and storage through four garages and two uncovered driveway parking spaces.

    The listing describes the property as well-positioned in Long Beach, California, near downtown Long Beach.

    For investors, the property offers a blend of income potential and tenant mix. The listing notes two current vacancies and an indicated 8.76% cap rate, along with below-market rents in place, creating a pathway for rent optimization through value-add improvements. The available parking configuration may also appeal to a range of tenants who value on-site garages, while the detached front house layout can support interest from households seeking more privacy than a traditional multi-unit setup.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.1793092
    Latitude
    33.7839601

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    FAQs

    What type of property is this?
    Apartment building - Five-unit mix with multiple bedroom layouts and four garages plus driveway parking supports flexible tenant demand.
    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 $1,395,000.
    What are key features of this property?
    This property features: Five‑unit multifamily property at 1403 Lemon Avenue, built in 1924; 6,519 SF lot with approximately 2,700 SF combined living area across five distinct units; Unit mix includes one detached 4BR/2BA front house, one 4BR/1BA unit, and three 2BR/1BA units
    (818) 271-1233
    We can help!
    Listing Contact
    Milla Pariser
    Real Estate License ID: 02006267
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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