Bluff Park Multifamily Investment
For Sale
$2,950,000
2325 E 2nd Street, Long Beach, CA 90803
11-unit apartment asset located in Prime Bluff Park, Long Beach
Property Size7,057 SF
Lot Size0.16 Acres
Price / SF$417
Days on Market651
Property Features for 2325 E 2nd Street
General Information
Standard status
Active
Property type
Residential income homes, Other residential income properties, Multifamily properties, Investment properties, Residential income properties
Size
7,057 SF
Elevators
N/A
Lot size
0.16 Acres
Building Details
Stories
2
Units
11
Listed By:
Todd Hawke
(310) 774-3745
Added: Jan 16, 2025
Changed: Mar 16
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Long Beach's Bluff Park neighborhood, this 11-unit apartment building at 2325 E. 2nd Street presents an investment opportunity. The property consists of two buildings on a 0.16-acre lot, with a total building size of 7,057 square feet. One building, constructed in 1923, contains four 1-bedroom/1-bathroom units. The second building, built in 1964, includes four 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and two studio units (one non-conforming). Six units have been renovated and feature in-unit washer/dryers. Building-wide improvements include double-pane windows and upgraded electrical systems. The property also features an on-site laundry facility and four garages, each with permits for potential Accessory Dwelling Unit (ADU) development. The property consists of 10 legal units plus one non-conforming unit. Convenient beach access and coastal living are offered in this prime Bluff Park location. Assumable financing is available at a 3.47% interest rate until October 1, 2026.
Key Highlights
- Priced at 11.9 GRM / 5.36% Cap Rate on Current Rents
- Prime Bluff Park Location
- 6 Units Renovated with In‑Unit Washer/Dryers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,739
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,034,780
$3.0M
Cap Rate 7%
$2,167,700
$2.2M
Cap Rate 9%
$1,685,989
$1.7M
Market Conditions
NOI Build-Up for 7,057 SF
Gross rent
$228.7K $32.40/SF
− Vacancy
−$11.9K −$1.68/SF
EGI
$216.8K $30.72/SF
− OpEx
−$65.0K −$9.21/SF
NOI
$151.7K $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 Rate 5%
$3,034,780
Cap Rate 7%
$2,167,700
Cap Rate 9%
$1,685,989
Alternative Uses
Best Use
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,739 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,963 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,496 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,487
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Residential income home - 11-unit apartment asset located in Prime Bluff Park, Long Beach
Where is this residential income home located?
The property is located at 2325 E 2nd Street Long Beach, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Priced at 11.9 GRM / 5.36% Cap Rate on Current Rents; Prime Bluff Park Location; 6 Units Renovated with In‑Unit Washer/Dryers
