Apartment Building with
For Sale
Contact for pricing
2015 Cedar Ave, Long Beach, CA 90806
One- and two-bedroom units are complemented by on-site laundry and dedicated garage spaces.
Property Size7,226 SF
Price / SF$256.02
Days on Market161
Property Features for 2015 Cedar Ave
General Information
Standard status
Active
Size
7,226 SF
Total Parking Spaces
6
Property subtype
Multifamily
Net Operating Income
$126,133
Amenities
on-site laundry room
Building Details
Year Built
1956
Buildings
1
Stories
2
Units
10
Listing Agency:
Skyline Commercial Real Estate
(714) 767-7039
Listed By:
Chris Pettit · License #CA 01983950
Source:
Crexi
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 29 at 9:18PM
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 Skyline Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 2015 Cedar Ave in Long Beach, this apartment property contains 7,226 square feet and was built in 1956. The unit mix includes larger one-bedroom and two-bedroom apartments, providing a range of residential layouts within the building.
The property also includes six garages and an on-site laundry room. These ancillary features add practical convenience for residents and support additional property income. The asset is situated in Long Beach’s Wrigley neighborhood.
The property also includes six garages and an on-site laundry room. These ancillary features add practical convenience for residents and support additional property income. The asset is situated in Long Beach’s Wrigley neighborhood.
Key Highlights
- 7,226‑square‑foot apartment property built in 1956
- Unit mix includes one‑bedroom and two‑bedroom apartments
- Six garages included on the property
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
$116,352
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
6.29%
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%
$2,327,040
$2.3M
Cap Rate 7%
$1,662,171
$1.7M
Cap Rate 9%
$1,292,800
$1.3M
Market Conditions
NOI Build-Up for 7,226 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
$222.0K $30.72/SF
− Vacancy
−$10.4K −$1.44/SF
EGI
$211.5K $29.28/SF
− OpEx
−$95.2K −$13.17/SF
NOI
$116.4K $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%
$2,327,040
Cap Rate 7%
$1,662,171
Cap Rate 9%
$1,292,800
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,352 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.87M
$3.39M – $4.51M
NOI $270,814 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,402
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom units are complemented by on-site laundry and dedicated garage spaces.
Where is this apartment building located?
The property is located at 2015 Cedar Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 7,226‑square‑foot apartment property built in 1956; Unit mix includes one‑bedroom and two‑bedroom apartments; Six garages included on the property
