Spacious Condo Near Retro
For Sale
$580,000
2420 E 4th Street #4 Long, Long Beach, CA 90814
Light-filled 2 bed, 2 bath condo with parking and AC.
Property Size1,077 SF
Lot Size0.59 Acres
Days on Market358
Property Features for 2420 E 4th Street #4 Long
General Information
Standard status
Active
Size
1,077 SF
Lot size
0.59 Acres
Property subtype
Condominium
Amenities
Wall Furnace
Ductless
Electric
Gas Oven
Gas Range
Refrigerator
Self Cleaning Oven
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Composition
Building Details
Building Size
1,077 SF
Year Built
1956
Stories
2
Listing Agency:
Long Beach Coastal
(562) 243-3223
Listed By:
Kelly McHugh Lopes · License #02018494
(562) 243-3223
Source:
Kw
Added: Aug 21, 2025
Changed: Aug 8
Last Checked: Aug 12 at 12:35PM
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 Long Beach Coastal
Investment Insights
Based on property information with market context.
This light and spacious condo features 2 bedrooms and 2 bathrooms, with parking, air conditioning, and low HOA fees. It is located in the Carroll Park area, one block from Retro Row and less than a mile from the water. The property includes dual pane vinyl windows, hardwood floors, and zoned cooling via mini-splits. The primary bedroom is large and includes an en suite bathroom and walk-in closet. The kitchen and en suite bathroom have been updated, while the other bathroom retains vintage fixtures, including a pink porcelain sink and tub, and a built-in vanity. The unit comes with one deeded off-street parking spot. The complex offers two community laundry rooms. The location provides convenient access to nearby shops and restaurants.
Key Highlights
- Excellent Carroll Park location, one block to Retro Row, less than a mile to the water.
- Updated kitchen and primary en suite bathroom.
- Spacious 2 bed, 2 bath condo with parking and AC.
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
$20,596
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
3.55%
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%
$411,920
$411.9K
Cap Rate 7%
$294,229
$294.2K
Cap Rate 9%
$228,844
$228.8K
Market Conditions
NOI Build-Up for 1,077 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
$39.4K $36.60/SF
− Vacancy
−$2.0K −$1.83/SF
EGI
$37.4K $34.77/SF
− OpEx
−$16.9K −$15.65/SF
NOI
$20.6K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
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%
$411,920
Cap Rate 7%
$294,229
Cap Rate 9%
$228,844
Alternative Uses
Best Use
Apartment 5plus
$294.2K
$257.5K – $343.3K
NOI $20,596 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$576.6K
$504.6K – $672.7K
NOI $40,364 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Light-filled 2 bed, 2 bath condo with parking and AC.
Where is this apartment building located?
The property is located at 2420 E 4th Street #4 Long Long Beach, CA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Excellent Carroll Park location, one block to Retro Row, less than a mile to the water.; Updated kitchen and primary en suite bathroom.; Spacious 2 bed, 2 bath condo with parking and AC.
