Seven-Unit Apartment Building with Courtyard
For Sale
$1,550,000
1876 Henderson Ave, Long Beach, CA 90806
Well-maintained seven-unit multifamily with individually metered utilities, a vacant updated unit, and recent electrical and plumbing upgrades.
Property Size4,919 SF
Lot Size0.17 Acres
Price / SF$315.10
Days on Market146
Property Features for 1876 Henderson Ave
General Information
Standard status
Active
Size
4,919 SF
Lot size
0.17 Acres
Property subtype
Residential Income
Financials
Cap Rate
6.4%
Gross Income
$156,900
Gross Rent Multiplier
10.2
Site & Location
Neighborhood
South Wrigley
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA, 4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
7
Amenities
courtyard-style layout
Listing Agency:
Sage Real Estate Group, Inc.
(562) 400-7622
Listed By:
Juan Huizar · License #01417642
(562) 307-0838
Source:
Exprealty
Added: Jun 8
Changed: Oct 25
Last Checked: Oct 30 at 6:58PM
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 Sage Real Estate Group, Inc.
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Investment Insights
Based on property information with market context.
This well-maintained seven-unit apartment investment is configured with two upstairs one-bedroom, one-bath units and five downstairs one-bedroom, one-bath units, including one larger downstairs two-bedroom, one-bath unit. One upstairs unit is currently vacant and has been updated with new luxury vinyl plank flooring and refreshed interior finishes. Several units are being utilized with additional rooms beyond their original layouts: four of the downstairs one-bedroom units are used as two-bedroom units, and the larger downstairs unit is used as a three-bedroom unit. Four garages, on-site parking, and a courtyard-style layout support tenant appeal.
The property sits on a 7,500 square foot lot with approximately 4,919 square feet of improvements. Ownership completed multiple capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, which can help reduce owner-paid utility expenses and improve operating efficiency.
Current operations generate approximately $13,075 per month in gross rental income and are offered at an approximately 6.4% cap rate and 10.20 GRM. The building is located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers.
The property sits on a 7,500 square foot lot with approximately 4,919 square feet of improvements. Ownership completed multiple capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, which can help reduce owner-paid utility expenses and improve operating efficiency.
Current operations generate approximately $13,075 per month in gross rental income and are offered at an approximately 6.4% cap rate and 10.20 GRM. The building is located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers.
Key Highlights
- 7‑unit apartment building with courtyard‑style layout plus four garages and on‑site parking
- 7,500 SF lot with approx. 4,919 SF of improvements
- Unit mix includes upstairs one‑bedroom/one‑bath and downstairs one‑bedroom/one‑bath plus one downstairs two‑bedroom/one‑bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,205
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,584,100
$1.6M
Cap Rate 7%
$1,131,500
$1.1M
Cap Rate 9%
$880,056
$880.1K
Market Conditions
NOI Build-Up for 4,919 SF
Gross rent
$151.1K $30.72/SF
− Vacancy
−$7.1K −$1.44/SF
EGI
$144.0K $29.28/SF
− OpEx
−$64.8K −$13.17/SF
NOI
$79.2K $16.10/SF
Area
ZIP 90806
Vacancy
4.70%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,584,100
Cap Rate 7%
$1,131,500
Cap Rate 9%
$880,056
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$990.1K – $1.32M
NOI $79,205 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,353 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
7
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,892
Businesses Nearby
Explore this area
Business Placement
Demographics for 90806, CA
41,611
Population
13,106
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
72%
High-School Grad
4.9 sq mi
ZIP Area
8,492
Density / Sq Mi
$73,674
Median Household Income
$36,691
Median Earnings
$1,672
Median Rent
$699,800
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 - Well-maintained seven-unit multifamily with individually metered utilities, a vacant updated unit, and recent electrical and plumbing upgrades.
Where is this apartment building located?
The property is located at 1876 Henderson Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 7‑unit apartment building with courtyard‑style layout plus four garages and on‑site parking; 7,500 SF lot with approx. 4,919 SF of improvements; Unit mix includes upstairs one‑bedroom/one‑bath and downstairs one‑bedroom/one‑bath plus one downstairs two‑bedroom/one‑bath
