Two-Bedroom Corner Atrium
For Sale
$700,000
Pending
1940 Mckinney Way, Seal Beach, CA 90740
Seal Beach, CA
Property Size1,100 SF
Days on Market52
Property Features for 1940 Mckinney Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Laundry Room, Bedroom 1, Kitchen, Bedroom 2, Bathroom 1
Parking
1
Parking features
Carport, Covered, Driveway
Spa
1
Window features
Screens, Double Pane Windows, Blinds, Skylight(s)
Patio and Porch features
Patio, Porch
Interior features
Corian Counters, High Ceilings, Storage, Copper Plumbing Full, Cathedral Ceiling(s)
Exterior features
Rain Gutters
Appliances
Water Heater, Disposal, Built-In Range, Electric Range, Electric Oven, Electric Cooktop
Subdivision
Leisure World (LW)
Lot features
Corner Lot, Landscaped, Near Public Transit, Close to Clubhouse, Garden, Sprinkler System, Lawn
Elementary school district
Los Alamitos Unified
Middle school district
Los Alamitos Unified
High school district
Los Alamitos Unified
Directions
In main gate; right at Del Monte, Right at McKinney Way
Standard status
Pending
APN
20003101
Size
1,100 SF
Taxes and HOA fees
HOA Fee
$613 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
1
Flooring type
Laminate
Building materials
Stucco, Drywall Walls
Roof type
Composition
Architectural style
Bungalow, Contemporary
Additional Structures
Storage
Listing Agency:
Gasper-Monteer Realty Group
(562) 431-2440
Listed By:
Carl Kennedy · License #02002398
(661) 810-9410
Added: Jul 18
Changed: Sep 6
Last Checked: Sep 7 at 3:06AM
MLS# PW26157356
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 two-bedroom, one-bath home features a basic corner atrium and practical indoor/outdoor living. Recent updates include new flooring and new windows. A huge covered patio extends the usable space for everyday comfort.
The home is described as facing southwest and located in Mutual 15, with large greenbelts on both sides. The listing also notes a carport building and space: Building 11, Space 11.
Overall, the layout is designed around the corner atrium, with improvements focused on the interior finishes and fenestration, and a covered patio that supports year-round use.
The home is described as facing southwest and located in Mutual 15, with large greenbelts on both sides. The listing also notes a carport building and space: Building 11, Space 11.
Overall, the layout is designed around the corner atrium, with improvements focused on the interior finishes and fenestration, and a covered patio that supports year-round use.
Key Highlights
- 2 bed, 1 bath corner unit with an atrium layout
- Huge covered patio plus porch for outdoor space
- Corian counters and high ceilings; cathedral ceilings in the home
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
$20,996
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
3.00%
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%
$419,920
$419.9K
Cap Rate 7%
$299,943
$299.9K
Cap Rate 9%
$233,289
$233.3K
Market Conditions
NOI Build-Up for 1,100 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
$39.6K $36.00/SF
− Vacancy
−$1.4K −$1.30/SF
EGI
$38.2K $34.70/SF
− OpEx
−$17.2K −$15.62/SF
NOI
$21.0K $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%
$419,920
Cap Rate 7%
$299,943
Cap Rate 9%
$233,289
Alternative Uses
Best Use
Apartment 5plus
$299.9K
$262.5K – $349.9K
NOI $20,996 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.5K
$323.3K – $431.1K
NOI $25,863 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
595
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
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Frequently Asked Questions
What type of property is this?
Single family property - Two-bedroom, one-bath corner home with a covered patio, updated flooring and windows, and a designated carport space.
Where is this single family property located?
The property is located at 1940 Mckinney Way Seal Beach, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2 bed, 1 bath corner unit with an atrium layout; Huge covered patio plus porch for outdoor space; Corian counters and high ceilings; cathedral ceilings in the home
