One-Bedroom Residential Income
New
For Sale
$237,000
1621 Monterey Road, Seal Beach, CA 90740
Seal Beach, CA
Property Size600 SF
Price / SF$395
Days on Market6
Property Features for 1621 Monterey Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Living Room, Bathroom 1, Laundry Room, Bedroom 1
Parking
1
Parking features
Carport
Spa
1
Window features
Drapes, Double Pane Windows, Blinds
Patio and Porch features
Patio
Interior features
Open Floorplan, Storage, Copper Plumbing Full
Exterior features
Rain Gutters
Appliances
Water Heater, Electric Water Heater, Refrigerator, Range Hood, Electric Oven, Electric Cooktop
Subdivision
Leisure World (LW)
Lot features
Treed Lot, Level with Street, Garden, Sprinkler System, 6-10 Units/ Acre
Elementary school district
Los Alamitos Unified
Middle school district
Los Alamitos Unified
High school district
Los Alamitos Unified
Directions
In south gate - left on Church - Right on Thunderbird - Left on Monterey - 1st driveway on right - Unit on Right 19D
Standard status
Active
Size
600 SF
Taxes and HOA fees
HOA Fee
$587 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating)
Cooling system
Heat Pump, Ductless
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Number of units
12
Building materials
Stucco, Asphalt, Drywall Walls, HardiPlank Type
Roof type
Asbestos Shingle
Architectural style
Bungalow
Additional Structures
Storage
Listing Agency:
Gasper-Monteer Realty Group
(562) 431-2440
Listed By:
Carl Kennedy · License #02002398
(661) 810-9410
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 8:06AM
MLS# PW26187535
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.
Investment Insights
Based on property information with market context.
This 600-square-foot bungalow-style residence includes one bedroom, one bathroom, a living room, laundry room, and an open floor plan. Laminate flooring and newer paint provide updated interior finishes, while solar tubes bring natural light into the kitchen and bathroom. The patio adds built-in storage, and the southeast-facing orientation provides afternoon shade.
The home is located in Mutual 2 within Leisure World in Seal Beach. Drive-up access allows parking directly in front of the unit, with additional carport parking assigned at Building 26, Stall 40. Interior features include full copper plumbing, electric heating, ductless heat-pump cooling, a refrigerator, electric oven, and electric cooktop. Public water and sewer service are available.
The home is located in Mutual 2 within Leisure World in Seal Beach. Drive-up access allows parking directly in front of the unit, with additional carport parking assigned at Building 26, Stall 40. Interior features include full copper plumbing, electric heating, ductless heat-pump cooling, a refrigerator, electric oven, and electric cooktop. Public water and sewer service are available.
Key Highlights
- 600‑square‑foot, one‑bedroom, one‑bathroom bungalow‑style residence
- Located in Mutual 2 within Leisure World, Seal Beach
- Laminate flooring and newer paint throughout
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
$11,452
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
4.83%
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%
$229,040
$229.0K
Cap Rate 7%
$163,600
$163.6K
Cap Rate 9%
$127,244
$127.2K
Market Conditions
NOI Build-Up for 600 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
$21.6K $36.00/SF
− Vacancy
−$778 −$1.30/SF
EGI
$20.8K $34.70/SF
− OpEx
−$9.4K −$15.62/SF
NOI
$11.5K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /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%
$229,040
Cap Rate 7%
$163,600
Cap Rate 9%
$127,244
Alternative Uses
Best Use
Apartment 5plus
$163.6K
$143.2K – $190.9K
NOI $11,452 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$201.5K
$176.3K – $235.1K
NOI $14,107 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 90740, CA
24,769
Population
14,208
Households
1.7
Avg Household Size
61
Median Age
51%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
2,231
Density / Sq Mi
$82,427
Median Household Income
$70,686
Median Earnings
$2,421
Median Rent
$488,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Bungalow-style unit with refreshed finishes, patio storage, and carport parking in Mutual 2.
Where is this residential income property located?
The property is located at 1621 Monterey Road Seal Beach, CA.
What is the asking price?
The asking price for this property is $237,000.
What are key features of this property?
This property features: 600‑square‑foot, one‑bedroom, one‑bathroom bungalow‑style residence; Located in Mutual 2 within Leisure World, Seal Beach; Laminate flooring and newer paint throughout
