Bluff Park Multifamily Investment
2325 E 2nd Street, Long Beach, CA 90803
11-unit apartment asset located in Prime Bluff Park, Long Beach
Property size:
7,057 SFLot size:
0.16 AcresPrice / SF:
$417/SF- Added:
- Jan 16, 2025
- Days on Market:
- 502
- Last Refresh:
- Mar 16 at 9:06 am
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
Listing agent Todd (310) 774-3745
Listing office (310) 774-3745
Listing date Jan 16, 2025
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
- Double‑Pane Windows, Upgraded Electrical
- 4 Garages – Permitted for 2 ADUs
- 10 Legal Units with 1 Non‑Conforming Unit
- Assumable Financing Available at 3.47% Until October 1, 2026
Overview
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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.7k | $32.40 |
| − Vacancy | −$11.9k | −$1.68 |
| EGI | $216.8k | $30.72 |
| − OpEx | −$65.0k | −$9.21 |
| NOI | $151.7k | $21.50 |
7,057 SF · lease $32.40/SF/yr · vacancy 5.20% · expense 30.00%
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 local authorities.
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.126
- Latitude
- 33.7629
Nearby Similar for Sale
FAQs
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
