Turn-Key 24-Unit Multifamily
For Sale
Contact for pricing
1495 N Peterson Ave, Long Beach, CA 90813
Renovated 24-unit multifamily property with separately metered utilities, on-site laundry, and garages.
Property Size15,952 SF
Price / SF$394.93
Days on Market216
Property Features for 1495 N Peterson Ave
General Information
Standard status
Active
Size
15,952 SF
Total Parking Spaces
13
Property subtype
Multifamily
Net Operating Income
$360,170
Site & Location
Neighborhood
Central
Highway Access
Yes
Additional Details
Multifamily Units
24
Amenities
on-site laundry facilities
garages
Building Details
Year Built
1963
Buildings
1
Stories
2
Units
24
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 774-3740
Source:
Crexi
Added: Apr 1
Changed: Oct 28
Last Checked: Nov 1 at 4:24AM
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 Stepp Commercial
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Investment Insights
Based on property information with market context.
1495 N Peterson Ave offers a turn-key 24-unit multifamily building with a unit mix of nineteen 1BD/1BA units, two 2BD/1BA units, and three 3BD/1BA units. The property’s units have been fully renovated, including new kitchens, bathrooms, flooring, and windows. Capital improvements include a new roof (2019), updates to electrical and plumbing systems, and completed seismic retrofitting.
The asset is supported by separately metered utilities and an in-place RUBS program designed to support expense recovery and operating efficiency. Additional income is generated through on-site laundry facilities and thirteen garages.
The garages provide additional flexibility, including the stated opportunity for ADU conversion for increased rental income.
The asset is supported by separately metered utilities and an in-place RUBS program designed to support expense recovery and operating efficiency. Additional income is generated through on-site laundry facilities and thirteen garages.
The garages provide additional flexibility, including the stated opportunity for ADU conversion for increased rental income.
Key Highlights
- 24‑unit multifamily built in 1963 with a unit mix of 19 one‑bedroom, 2 two‑bedroom, and 3 three‑bedroom units
- All units fully renovated with new kitchens, bathrooms, flooring, and windows
- Capital improvements include a new roof (2019), updated electrical and plumbing, and completed seismic retrofitting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$337,885
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,757,700
$6.8M
Cap Rate 7%
$4,826,929
$4.8M
Cap Rate 9%
$3,754,278
$3.8M
Market Conditions
NOI Build-Up for 15,952 SF
Gross rent
$641.3K $40.20/SF
− Vacancy
−$26.9K −$1.69/SF
EGI
$614.3K $38.51/SF
− OpEx
−$276.5K −$17.33/SF
NOI
$337.9K $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%
$6,757,700
Cap Rate 7%
$4,826,929
Cap Rate 9%
$3,754,278
Alternative Uses
Best Use
Apartment 5plus
$4.83M
$4.22M – $5.63M
NOI $337,885 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.24M
$4.58M – $6.11M
NOI $366,653 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
24
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,771
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 24-unit multifamily property with separately metered utilities, on-site laundry, and garages.
Where is this apartment building located?
The property is located at 1495 N Peterson Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: 24‑unit multifamily built in 1963 with a unit mix of 19 one‑bedroom, 2 two‑bedroom, and 3 three‑bedroom units; All units fully renovated with new kitchens, bathrooms, flooring, and windows; Capital improvements include a new roof (2019), updated electrical and plumbing, and completed seismic retrofitting
