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    Turnkey Apartment Building with Parking Title is generated by Realmo AI

    207 Mira Mar, Long Beach, CA 90803

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    For Sale
    $1,945,000

    Apartment - Long Beach, CA

    Type:Apartment
    Property size:
    3,592 SF
    Lot size:
    3,780.00 Acres
    Price / SF:
    $541/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 207 Mira Mar

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Parking features
    Assigned
    Interior features
    Unfurnished, Storage
    Exterior features
    Community Features Included: Street Lights, Storm Drains, Sidewalks, Park, 2-5 Units/Acre
    Appliances
    Cooktop, Cooktop - Gas, Microwave, Oven - Gas, Range
    Standard status
    Active
    APN
    7256008025
    Size
    3,592 SF
    Lot size
    3,780.00 Acres

    Utilities

    Heating system
    Space Heater
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1922
    Floors in Building
    2
    Number of units
    5
    Architectural style
    Other

    We can help!

    Listing Contact
    Gregg Perrah

    Listing agent Gregg Perrah License #01200203

    Listing office First Team Real Estate 4 corporate Plaza, Suite 100, Newport Beach, CA

    Listing date Jun 4, 2026

    MLS# NP26121999 Listing URL

    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.

    HighLights

    • 5 turnkey 1‑bed/1‑bath units; all units are currently rented
    • Unit sizes range from 520 to 700 sq ft
    • Built in 1922 with classic 1920s construction
    • On‑site parking includes 2 garages plus 2 additional assigned spaces
    • ADU potential noted in the property remarks
    • Community features include street lights, storm drains, sidewalks, and a park

    Overview

    Located at 207 Mira Mar in Long Beach, this classic 1920s apartment building offers five turnkey 1-bedroom, 1-bath units. According to the listing, all units are currently rented. Unit sizes range from approximately 520 to 700 square feet, and the interiors have been updated.

    The property includes on-site parking with two garages plus two additional spaces. The listing notes the asset is in Belmont Heights and is near the beach, along with dining and retail options.

    This property is well suited for an investor or owner-operator seeking in-place rental income with manageable building scale. The listing also mentions ADU potential, which may appeal to buyers planning future expansion or reconfiguration. If you are considering a financing or tax-deferred strategy, the listing indicates lenders and 1031-exchange guidance are available through the broker, and that viewings should be limited to a drive-by only so occupants are not disturbed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.1471684
    Latitude
    33.7628622

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    FAQs

    What type of property is this?
    Apartment building - Five rented one-bedroom units with updated interiors and on-site parking offer an easy-to-manage residential income setup.
    Where is this apartment building located?
    The property is located at 207 Mira Mar Long Beach, CA.
    What is the asking price?
    The asking price for this property is $1,945,000.
    What are key features of this property?
    This property features: 5 turnkey 1‑bed/1‑bath units; all units are currently rented; Unit sizes range from 520 to 700 sq ft; Built in 1922 with classic 1920s construction
    (949) 836-0333
    We can help!
    Listing Contact
    Gregg Perrah
    Real Estate License ID: 01200203
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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