11-Unit Apartment
New
For Sale
$3,700,000
1809 E Appleton, Long Beach, CA 90802
A varied bedroom mix, on-site laundry, and six garages serve the property's multifamily configuration.
Property Size9,248 SF
Days on Market7
Property Features for 1809 E Appleton
General Information
Standard status
Active
Size
9,248 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Site & Location
Neighborhood
North Alamitos Beach
Units
Unit Mix
10 x 1BD/1BA, 1 x 2BD/2BA
Multifamily Units
11
Additional Details
Tenant in Place
Yes
Amenities
On-site laundry
Building Details
Building Size
9,248 SF
Year Built
1961
Listing Agency:
Keller Williams Realty Downey
Listed By:
Robert Stepp · License #01456379
(310) 774-3740
Source:
Velocityrealtysd
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 27 at 12:11AM
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 Keller Williams Realty Downey
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Investment Insights
Based on property information with market context.
The 11-unit apartment property was built in 1961 and contains ten 1-bedroom, 1-bathroom residences averaging approximately 825 square feet, along with one 2-bedroom, 2-bathroom residence measuring approximately 998 square feet. On-site laundry and six garages are additional building features. Improvements include roof restoration, exterior refinishing and painting, replacement of front-facing windows, upgraded exterior lighting, landscaping work, and general repairs. Two apartments also received interior updates.
Located in Long Beach's Alamitos Beach area, the property is near the Pacific Ocean and within a pedestrian-oriented setting with dining, retail, and recreational amenities. The neighborhood has a 94 Walk Score and an 89 Bike Score, with beaches and local services accessible in the surrounding area.
Located in Long Beach's Alamitos Beach area, the property is near the Pacific Ocean and within a pedestrian-oriented setting with dining, retail, and recreational amenities. The neighborhood has a 94 Walk Score and an 89 Bike Score, with beaches and local services accessible in the surrounding area.
Key Highlights
- 11 apartments: ten 1‑bedroom, 1‑bathroom units averaging approximately 825 square feet, plus one 2‑bedroom, 2‑bathroom unit at approximately 998 square feet
- Six garages and on‑site laundry
- Built in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,854
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,537,080
$3.5M
Cap Rate 7%
$2,526,486
$2.5M
Cap Rate 9%
$1,965,044
$2.0M
Market Conditions
NOI Build-Up for 9,248 SF
Gross rent
$338.5K $36.60/SF
− Vacancy
−$16.9K −$1.83/SF
EGI
$321.6K $34.77/SF
− OpEx
−$144.7K −$15.65/SF
NOI
$176.9K $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 Rate 5%
$3,537,080
Cap Rate 7%
$2,526,486
Cap Rate 9%
$1,965,044
Alternative Uses
Best Use
Apartment 5plus
$2.53M
$2.21M – $2.95M
NOI $176,854 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,594 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
1,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom mix, on-site laundry, and six garages serve the property's multifamily configuration.
Where is this apartment building located?
The property is located at 1809 E Appleton Long Beach, CA.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 11 apartments: ten 1‑bedroom, 1‑bathroom units averaging approximately 825 square feet, plus one 2‑bedroom, 2‑bathroom unit at approximately 998 square feet; Six garages and on‑site laundry; Built in 1961
