11-Unit Multifamily
For Sale
$2,300,000
1950 Pacific, Long Beach, CA 90806
Built in 1962, the 11-unit multifamily property includes two newly constructed ADUs within a mixed 1- and 2-bedroom unit mix.
Property Size6,733 SF
Lot Size0.20 Acres
Price / SF$341.60
Days on Market140
Property Features for 1950 Pacific
General Information
Standard status
Active
Size
6,733 SF
Lot size
0.20 Acres
Property subtype
Multi-Family
Additional Details
Cap Rate
7.03%
Multifamily Units
11
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Lyon Stahl Investment Real Estate
Listed By:
Cameron Samimi cameron@lyonstahl.com · License #02035763
(310) 259-7556
Source:
Findhomesinsandiegoarea
Added: Apr 29
Changed: Sep 10
Last Checked: Sep 15 at 1:09PM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
1950 Pacific Ave is an 11-unit multifamily asset built in 1962. The property’s unit mix includes 1-bedroom and 2-bedroom units, and it also features two newly constructed ADUs that are already completed. This combination supports an income-producing configuration with existing units plus additional rental units.
The offering is positioned on an approximately 8,591 square foot lot and totals approximately 6,733 square feet of building area. Current scheduled rents are reported as approximately $19,559 per month, and the marketing materials also reference projected market rents of approximately $21,940 per month before additional garage income.
The information provided indicates the property currently operates at a 9.80 GRM and a 7.03% cap rate, with potential to move toward an 8.50 GRM and an 8.54% cap rate at market rents.
The offering is positioned on an approximately 8,591 square foot lot and totals approximately 6,733 square feet of building area. Current scheduled rents are reported as approximately $19,559 per month, and the marketing materials also reference projected market rents of approximately $21,940 per month before additional garage income.
The information provided indicates the property currently operates at a 9.80 GRM and a 7.03% cap rate, with potential to move toward an 8.50 GRM and an 8.54% cap rate at market rents.
Key Highlights
- 11‑unit multifamily property at 1950 Pacific Ave, built in 1962
- Includes two newly constructed ADUs and a mixed unit mix of 1‑bedroom and 2‑bedroom units
- Approx. 6,733 SF building area on an approx. 8,591 SF lot
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
$108,414
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
4.71%
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%
$2,168,280
$2.2M
Cap Rate 7%
$1,548,771
$1.5M
Cap Rate 9%
$1,204,600
$1.2M
Market Conditions
NOI Build-Up for 6,733 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
$206.8K $30.72/SF
− Vacancy
−$9.7K −$1.44/SF
EGI
$197.1K $29.28/SF
− OpEx
−$88.7K −$13.17/SF
NOI
$108.4K $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 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%
$2,168,280
Cap Rate 7%
$1,548,771
Cap Rate 9%
$1,204,600
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,414 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.60M
$3.15M – $4.21M
NOI $252,338 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,653
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1962, the 11-unit multifamily property includes two newly constructed ADUs within a mixed 1- and 2-bedroom unit mix.
Where is this apartment building located?
The property is located at 1950 Pacific Long Beach, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 11‑unit multifamily property at 1950 Pacific Ave, built in 1962; Includes two newly constructed ADUs and a mixed unit mix of 1‑bedroom and 2‑bedroom units; Approx. 6,733 SF building area on an approx. 8,591 SF lot
