Upgraded Quadplex with One-Bedroom
For Sale
Contact for pricing
Pending
216 Esperanza, Long Beach, CA 90802
Upgraded quadplex offering four spacious one-bedroom apartments in a highly walkable coastal neighborhood.
Property Size3,816 SF
Days on Market79
Property Features for 216 Esperanza
General Information
Standard status
Pending
Size
3,816 SF
Property subtype
Multifamily
Zoning
Assessor
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
HomeSmart Realty West
Listed By:
Dave Stockton · License #01214367
Source:
Crexi
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 2 at 11:27AM
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 HomeSmart Realty West
Investment Insights
Based on property information with market context.
This very well maintained, upgraded quadplex features four spacious one-bedroom units totaling approximately 3,816 square feet, with each apartment estimated around 950 square feet. The property is positioned as an income-focused residential building with multiple independently usable homes under one ownership structure.
Located in the heart of Alamitos Beach, the building is about two blocks from the beach and adjacent to Bluff Park, supported by a very high walk score. Daily conveniences and entertainment are within an easy 5 to 15 minute walk, including shopping, restaurants, and bars. Public transportation is described as available on the corner of E. Broadway, and additional nearby retail and dining areas include the East Village Arts District and Retro Row along East 4th St.
For tenants, the layout supports privacy and straightforward living with one-bedroom floorplans in a neighborhood setting near the water and parks, along with frequent walkable access to everyday amenities. For buyers, the asset provides a compact four-unit residential structure with four long-term residents reflected in actual rents, offering a practical approach for an owner seeking manageable multi-family ownership in a desirable coastal area.
Located in the heart of Alamitos Beach, the building is about two blocks from the beach and adjacent to Bluff Park, supported by a very high walk score. Daily conveniences and entertainment are within an easy 5 to 15 minute walk, including shopping, restaurants, and bars. Public transportation is described as available on the corner of E. Broadway, and additional nearby retail and dining areas include the East Village Arts District and Retro Row along East 4th St.
For tenants, the layout supports privacy and straightforward living with one-bedroom floorplans in a neighborhood setting near the water and parks, along with frequent walkable access to everyday amenities. For buyers, the asset provides a compact four-unit residential structure with four long-term residents reflected in actual rents, offering a practical approach for an owner seeking manageable multi-family ownership in a desirable coastal area.
Key Highlights
- Upgraded 4‑unit quadplex with 4 spacious 1‑bedroom apartments
- Total size 3,816 SF; approx. 950 SF per unit
- Located 2 blocks from the beach and adjacent to Bluff Park
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
$82,046
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
5.66%
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%
$1,640,920
$1.6M
Cap Rate 7%
$1,172,086
$1.2M
Cap Rate 9%
$911,622
$911.6K
Market Conditions
NOI Build-Up for 3,816 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
$123.6K $32.40/SF
− Vacancy
−$6.4K −$1.68/SF
EGI
$117.2K $30.72/SF
− OpEx
−$35.2K −$9.21/SF
NOI
$82.0K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /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%
$1,640,920
Cap Rate 7%
$1,172,086
Cap Rate 9%
$911,622
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.03M – $1.37M
NOI $82,046 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$1.04M
$912.2K – $1.22M
NOI $72,975 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $143,015 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
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 - Upgraded quadplex offering four spacious one-bedroom apartments in a highly walkable coastal neighborhood.
Where is this quadplex located?
The property is located at 216 Esperanza Long Beach, CA.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Upgraded 4‑unit quadplex with 4 spacious 1‑bedroom apartments; Total size 3,816 SF; approx. 950 SF per unit; Located 2 blocks from the beach and adjacent to Bluff Park
