Refreshed Three-Unit Craftsman
New
For Sale
$995,000
1567 Elm, Long Beach, CA 90813
Vacant multifamily property with updated interiors, a detached garage, and a gated lot near schools and downtown amenities.
Property Size2,070 SF
Days on Market5
Property Features for 1567 Elm
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Investment
Building Details
Building Size
2,070 SF
Year Built
1910
Units
3
Listing Agency:
REMAX Top Producers
(626) 926-6130
Listed By:
Jesse Reyes · License #01507176
(626) 926-6130
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 7:51AM
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 REMAX Top Producers
Investment Insights
Based on property information with market context.
This 1910 Craftsman triplex presents three vacant, legally recognized units with refreshed interiors. Improvements include new kitchens, windows, flooring, paint, and remodeled bathrooms. The front residence offers two bedrooms, one bathroom, a living room, formal dining area, laundry room, air conditioning, ductless heat, and a front porch. A studio unit includes its own kitchen and bathroom, along with washer and dryer hookups, air conditioning, and heat. The rear residence has two bedrooms, one bathroom, a large living room, and a bonus room suitable for office, gym, nursery, or flexible use.
The property occupies a large gated lot with separation between the residences and includes a detached garage accessed from the alley. Its Long Beach setting is a short distance from Long Beach Polytechnic High School and Theodore Roosevelt Elementary, with Downtown Long Beach, the Aquarium of the Pacific, The Pike, Queen Mary, Shoreline Village, parks, transit, restaurants, coffee shops, breweries, shopping, and entertainment minutes away. Walk Score is 82, Bike Score is 76, and Transit Score is 60.
The property occupies a large gated lot with separation between the residences and includes a detached garage accessed from the alley. Its Long Beach setting is a short distance from Long Beach Polytechnic High School and Theodore Roosevelt Elementary, with Downtown Long Beach, the Aquarium of the Pacific, The Pike, Queen Mary, Shoreline Village, parks, transit, restaurants, coffee shops, breweries, shopping, and entertainment minutes away. Walk Score is 82, Bike Score is 76, and Transit Score is 60.
Key Highlights
- Three vacant legal units, including two two‑bedroom residences and a studio
- 1910 Craftsman property refreshed with new kitchens, windows, flooring, paint, and remodeled bathrooms
- Front unit includes laundry room, air conditioning, ductless heat, formal dining, and front porch
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
$47,579
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
4.78%
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%
$951,580
$951.6K
Cap Rate 7%
$679,700
$679.7K
Cap Rate 9%
$528,656
$528.7K
Market Conditions
NOI Build-Up for 2,070 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
$70.8K $34.20/SF
− Vacancy
−$2.8K −$1.36/SF
EGI
$68.0K $32.84/SF
− OpEx
−$20.4K −$9.85/SF
NOI
$47.6K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$951,580
Cap Rate 7%
$679,700
Cap Rate 9%
$528,656
Alternative Uses
Best Use
Multifamily LT 5
$679.7K
$594.7K – $793.0K
NOI $47,579 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$626.4K
$548.1K – $730.8K
NOI $43,845 @ 7.0% cap · market cap 4.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,120
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
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?
Triplex - Vacant multifamily property with updated interiors, a detached garage, and a gated lot near schools and downtown amenities.
Where is this triplex located?
The property is located at 1567 Elm Long Beach, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three vacant legal units, including two two‑bedroom residences and a studio; 1910 Craftsman property refreshed with new kitchens, windows, flooring, paint, and remodeled bathrooms; Front unit includes laundry room, air conditioning, ductless heat, formal dining, and front porch
