Two-Unit Duplex with Driveway
For Sale
$499,000
2000 Lewis Ave, Long Beach, CA 90806
One unit is occupied by a long-term tenant, while the second unit is currently vacant.
Property Size1,039 SF
Lot Size0.08 Acres
Price / SF$480.27
Days on Market80
Property Features for 2000 Lewis Ave
General Information
Standard status
Active
Size
1,039 SF
Lot size
0.08 Acres
Property subtype
Residential Income
Occupancy
50%
Property Condition
Severity
Repairs Needed
Evidence
some care and renovations
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Real Broker
(619) 663-8680
Listed By:
Melissa Urena · License #01900591
(562) 249-1939
Source:
Exprealty
Added: Jun 16
Changed: Sep 2
Last Checked: Sep 2 at 2:34AM
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 Real Broker
Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bathroom residences totaling 1,039 square feet on a 3,511-square-foot lot. The property includes driveway parking, with one unit occupied by a long-term tenant and the other available in vacant condition.
Located in Long Beach, the property provides access to the 710 and 405 freeways, connecting it with employment centers, shopping, dining, and surrounding communities.
Located in Long Beach, the property provides access to the 710 and 405 freeways, connecting it with employment centers, shopping, dining, and surrounding communities.
Key Highlights
- Two one‑bedroom, one‑bathroom units
- 1,039 square feet of combined living space
- Situated on a 3,511‑square‑foot 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
$18,616
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
3.73%
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%
$372,320
$372.3K
Cap Rate 7%
$265,943
$265.9K
Cap Rate 9%
$206,844
$206.8K
Market Conditions
NOI Build-Up for 1,039 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
$28.1K $27.00/SF
− Vacancy
−$1.5K −$1.40/SF
EGI
$26.6K $25.60/SF
− OpEx
−$8.0K −$7.68/SF
NOI
$18.6K $17.92/SF
Area
ZIP 90806
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$372,320
Cap Rate 7%
$265,943
Cap Rate 9%
$206,844
Alternative Uses
Best Use
Multifamily LT 5
$265.9K
$232.7K – $310.3K
NOI $18,616 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,730 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$556.3K
$486.7K – $649.0K
NOI $38,939 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,522
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One unit is occupied by a long-term tenant, while the second unit is currently vacant.
Where is this duplex located?
The property is located at 2000 Lewis Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom units; 1,039 square feet of combined living space; Situated on a 3,511‑square‑foot lot
