16-Unit Apartment
For Sale
$2,895,000
1439 Cedar, Long Beach, CA 90813
Updated building systems, shared laundry, and garage parking serve a multifamily property across from a middle school.
Property Size10,800 SF
Days on Market8
Property Features for 1439 Cedar
General Information
Standard status
Active
Size
10,800 SF
Total Parking Spaces
4
Property subtype
Apartment
Financials
Cap Rate
6.5%
Gross Rent Multiplier
9.01
Additional Details
Highway Access
Yes
Multifamily Units
16
Amenities
on-site laundry
Building Details
Building Size
10,800 SF
Year Built
1928
Buildings
1
Listing Agency:
Jamison Management Company
Listed By:
Todd Slatcher · License #01456645
Source:
Velocityrealtysd
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 1 at 6:30PM
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 Jamison Management Company
Investment Insights
Based on property information with market context.
Built in 1928, this 16-unit apartment property combines period architectural details with improvements to key building systems. The electrical panel was updated in the 1990s, and hot- and cold-water supply lines were replaced in 2021. The main drain line was changed to ABS, and foundation work was completed before the current ownership. Units have vinyl plank or ceramic-type tile floors; some kitchens feature newer cabinetry and quartz countertops. Layouts include open plans and units with walk-in closets. On-site laundry and four garage spaces are also part of the property, with stairs providing roof access for maintenance.
The building is across Cedar Avenue from Washington Middle School, which is undergoing reconstruction. It is near the 710 freeway, downtown Long Beach, and city transportation. Reported operating metrics include a 9.01X GRM and a 6.5% cap rate based on actuals.
The building is across Cedar Avenue from Washington Middle School, which is undergoing reconstruction. It is near the 710 freeway, downtown Long Beach, and city transportation. Reported operating metrics include a 9.01X GRM and a 6.5% cap rate based on actuals.
Key Highlights
- 16 apartment units in a building constructed in 1928
- Hot- and cold‑water supply lines replaced in 2021; electrical panel updated in the 1990s
- ABS replacement drain line and foundation improvements
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
$228,759
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
7.90%
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%
$4,575,180
$4.6M
Cap Rate 7%
$3,267,986
$3.3M
Cap Rate 9%
$2,541,767
$2.5M
Market Conditions
NOI Build-Up for 10,800 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
$434.2K $40.20/SF
− Vacancy
−$18.2K −$1.69/SF
EGI
$415.9K $38.51/SF
− OpEx
−$187.2K −$17.33/SF
NOI
$228.8K $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 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%
$4,575,180
Cap Rate 7%
$3,267,986
Cap Rate 9%
$2,541,767
Alternative Uses
Best Use
Apartment 5plus
$3.27M
$2.86M – $3.81M
NOI $228,759 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.55M
$3.10M – $4.14M
NOI $248,236 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
530
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
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated building systems, shared laundry, and garage parking serve a multifamily property across from a middle school.
Where is this apartment building located?
The property is located at 1439 Cedar Long Beach, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 16 apartment units in a building constructed in 1928; Hot- and cold‑water supply lines replaced in 2021; electrical panel updated in the 1990s; ABS replacement drain line and foundation improvements
