Eight-Unit Apartment
For Sale
$2,500,000
1445 Coronado Avenue, Long Beach, CA 90804
Built in 1956, this eight-unit property offers updated one- and two-bedroom residences with separately metered utilities.
Property Size5,328 SF
Days on Market129
Property Features for 1445 Coronado Avenue
General Information
Standard status
Active
Size
5,328 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Building Details
Building Size
5,328 SF
Year Built
1956
Units
8
Tenancy
Multi
Listing Agency:
Kirklen Investment Group
Listed By:
Jason Kirklen · License #01939655
Source:
Commercialcafe
Added: Apr 7
Changed: Aug 8
Last Checked: Jul 23 at 2:48AM
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 Kirklen Investment Group
Investment Insights
Based on property information with market context.
Built in 1956, this eight-unit apartment building in East Long Beach features seven one-bedroom, one-bath units and one two-bedroom, one-bath unit. The residences have been upgraded throughout, including new vanities in the bathrooms, updated countertops, fresh paint, new fixtures and faucets, new cabinets and appliances in the kitchens, and updated vinyl flooring.
Each unit is separately metered for gas and electricity, supporting straightforward expense management. On-site parking includes five single-car garage spaces and four open parking spaces. Low-maintenance landscaping is in place to help maintain curb appeal while reducing ongoing exterior upkeep.
The property offers a practical unit mix for rental housing, with one- and two-bedroom options across the building and individualized utility metering for each unit.
Each unit is separately metered for gas and electricity, supporting straightforward expense management. On-site parking includes five single-car garage spaces and four open parking spaces. Low-maintenance landscaping is in place to help maintain curb appeal while reducing ongoing exterior upkeep.
The property offers a practical unit mix for rental housing, with one- and two-bedroom options across the building and individualized utility metering for each unit.
Key Highlights
- Built in 1956, 8‑unit apartment building with 7 one‑bedroom/one‑bath units and 1 two‑bedroom/one‑bath unit
- Updates include new vanities, updated countertops, fresh paint, new fixtures and faucets, updated kitchen cabinets and appliances, and updated vinyl flooring
- Units are separately metered for gas and electricity for easier management and cost control
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
$101,890
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
4.08%
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%
$2,037,800
$2.0M
Cap Rate 7%
$1,455,571
$1.5M
Cap Rate 9%
$1,132,111
$1.1M
Market Conditions
NOI Build-Up for 5,328 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
$195.0K $36.60/SF
− Vacancy
−$9.8K −$1.83/SF
EGI
$185.3K $34.77/SF
− OpEx
−$83.4K −$15.65/SF
NOI
$101.9K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /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%
$2,037,800
Cap Rate 7%
$1,455,571
Cap Rate 9%
$1,132,111
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.27M – $1.70M
NOI $101,890 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,681 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1956, this eight-unit property offers updated one- and two-bedroom residences with separately metered utilities.
Where is this apartment building located?
The property is located at 1445 Coronado Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Built in 1956, 8‑unit apartment building with 7 one‑bedroom/one‑bath units and 1 two‑bedroom/one‑bath unit; Updates include new vanities, updated countertops, fresh paint, new fixtures and faucets, updated kitchen cabinets and appliances, and updated vinyl flooring; Units are separately metered for gas and electricity for easier management and cost control
