12-Unit Renovated Apartment
New
For Sale
$5,095,000
1820 E 2nd, Long Beach, CA 90802
The community combines updated apartment interiors with five single-car garages and approved plans for two additional residences.
Property Size8,130 SF
Price / SF$626.69
Days on Market4
Property Features for 1820 E 2nd
General Information
Standard status
Active
Size
8,130 SF
Total Parking Spaces
5
Property subtype
Residential Income
Occupancy
100%
Financials
Asking Price
$5,095,000
Cap Rate
5.52%
Gross Rent Multiplier
12.92
Site & Location
Neighborhood
Alamitos Beach
Utilities to Site
Yes
Units
Multifamily Units
12
Individually Metered Utilities
gas, electric
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Amenities
in-unit washer/dryer
ceiling fans
drought-tolerant landscaping
1
2+ Common Walls
false
2
Inside,See Remarks
Rectangular Lot
Public
8273
5
0.1899
Assessor
8130
12
13
Building Details
Building Size
8,130 SF
Year Built
2025
Stories
2
Listing Agency:
Pabst, Kinney & Associates
(562) 884-6875
Listed By:
Spencer Pabst · License #01849377
(562) 987-3244
Source:
Larryparent
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:31PM
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 Pabst, Kinney & Associates
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Investment Insights
Based on property information with market context.
This 12-unit apartment community has renovated kitchens and bathrooms, in-unit washers and dryers, plank vinyl flooring, new windows and doors, and updated lighting and fixtures. Improvements also include new plumbing, upgraded electrical systems, HVAC and ventilation work, and drought-tolerant landscaping. Five single-car garages are included, with approved plans for two additional two-bedroom, one-bath units above them.
The property is 100% leased and operates with RUBS. Gas and electricity are separately metered. The reported operating metrics are a 5.52% cap rate and 12.92 GRM. The address is two blocks from the beach in Long Beach’s Alamitos Beach neighborhood.
The property is 100% leased and operates with RUBS. Gas and electricity are separately metered. The reported operating metrics are a 5.52% cap rate and 12.92 GRM. The address is two blocks from the beach in Long Beach’s Alamitos Beach neighborhood.
Key Highlights
- 12 apartment units; 100% leased
- Five single‑car garages
- Approved plans for two 2‑bedroom, 1‑bath ADUs above the garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,474
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,109,480
$3.1M
Cap Rate 7%
$2,221,057
$2.2M
Cap Rate 9%
$1,727,489
$1.7M
Market Conditions
NOI Build-Up for 8,130 SF
Gross rent
$297.6K $36.60/SF
− Vacancy
−$14.9K −$1.83/SF
EGI
$282.7K $34.77/SF
− OpEx
−$127.2K −$15.65/SF
NOI
$155.5K $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%
$3,109,480
Cap Rate 7%
$2,221,057
Cap Rate 9%
$1,727,489
Alternative Uses
Best Use
Apartment 5plus
$2.22M
$1.94M – $2.59M
NOI $155,474 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,694 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,456
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The community combines updated apartment interiors with five single-car garages and approved plans for two additional residences.
Where is this apartment building located?
The property is located at 1820 E 2nd Long Beach, CA.
What is the asking price?
The asking price for this property is $5,095,000.
What are key features of this property?
This property features: 12 apartment units; 100% leased; Five single‑car garages; Approved plans for two 2‑bedroom, 1‑bath ADUs above the garages
