Four-Unit Property With
New
For Sale
$2,100,000
215 Detroit Ave, Huntington Beach, CA 92648
Fully occupied Huntington Beach property with private patios, rear garages, and convenient access to the beach and PCH.
Property Size3,571 SF
Lot Size0.14 Acres
Price / SF$588.07
Days on Market2
Property Features for 215 Detroit Ave
General Information
Standard status
Active
Size
3,571 SF
Lot size
0.14 Acres
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
private patios
laundry and storage room
Building Details
Building Size
3,571 SF
Year Built
1970
Stories
2
Units
4
Listing Agency:
NOHCO Real Estate
(213) 804-7647
Listed By:
Brian Noh · License #01438155
(213) 804-7647
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 3:29AM
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 NOHCO Real Estate
Investment Insights
Based on property information with market context.
Built in 1970, this Huntington Beach quadplex contains 3,571 square feet across four residential units with one- and two-bedroom layouts. Each unit includes a private patio, while the property also provides a rear laundry and storage room. Parking is available at both the front and rear of the site, and four individual garages are positioned at the back.
The property occupies a 6,188-square-foot lot at 215 Detroit Ave, approximately 1/2 mile from the beach and Pacific Coast Highway. The surrounding area includes the Huntington Beach Pier, Pacific City, local shops, and restaurants. Walk Score is 92, Bike Score is 85, and Transit Score is 35. All four units are fully occupied, providing an existing income-producing configuration in a beach-area setting.
The property occupies a 6,188-square-foot lot at 215 Detroit Ave, approximately 1/2 mile from the beach and Pacific Coast Highway. The surrounding area includes the Huntington Beach Pier, Pacific City, local shops, and restaurants. Walk Score is 92, Bike Score is 85, and Transit Score is 35. All four units are fully occupied, providing an existing income-producing configuration in a beach-area setting.
Key Highlights
- Four‑unit quadplex totaling 3,571sf
- 6,188sf lot at 215 Detroit Ave
- Four individual rear garages
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
$83,455
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
3.97%
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%
$1,669,100
$1.7M
Cap Rate 7%
$1,192,214
$1.2M
Cap Rate 9%
$927,278
$927.3K
Market Conditions
NOI Build-Up for 3,571 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
$122.1K $34.20/SF
− Vacancy
−$2.9K −$0.81/SF
EGI
$119.2K $33.39/SF
− OpEx
−$35.8K −$10.02/SF
NOI
$83.5K $23.37/SF
Area
Huntington Beach, CA
Vacancy
2.38%
Lease Rate
$34.20 /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%
$1,669,100
Cap Rate 7%
$1,192,214
Cap Rate 9%
$927,278
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,455 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$1.10M
$962.3K – $1.28M
NOI $76,981 @ 7.0% cap · market cap 3.67%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,390 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 92648, CA
46,691
Population
21,609
Households
2.2
Avg Household Size
44
Median Age
51%
College-Educated
95%
High-School Grad
8.0 sq mi
ZIP Area
5,836
Density / Sq Mi
$118,993
Median Household Income
$73,049
Median Earnings
$2,324
Median Rent
$1,176,000
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?
Quadplex - Fully occupied Huntington Beach property with private patios, rear garages, and convenient access to the beach and PCH.
Where is this quadplex located?
The property is located at 215 Detroit Ave Huntington Beach, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 3,571sf; 6,188sf lot at 215 Detroit Ave; Four individual rear garages
