Four-Unit Multifamily
New
For Sale
$1,100,000
2441 Cedar Ave, Long Beach, CA 90806
Side-by-side residences include private garages, hardwood floors, built-in storage, and shared laundry facilities.
Property Size2,945 SF
Days on Market5
Property Features for 2441 Cedar Ave
General Information
Standard status
Active
Size
2,945 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Amenities
individual garages
hardwood flooring
built-in storage
on-site community laundry room
Building Details
Building Size
2,945 SF
Year Built
1940
Units
4
Listing Agency:
Estate Properties
(310) 378-9494
Listed By:
Charles Fisher · License #01731424
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:30AM
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 Estate Properties
Investment Insights
Based on property information with market context.
Built in 1940, this four-unit multifamily property comprises side-by-side residences with individual garages. The unit mix includes one two-bedroom, one-bathroom home and three one-bedroom, one-bathroom homes. Interior features across the units include hardwood flooring and built-in storage, while a community laundry room provides an additional income source.
The property is located in Long Beach near shopping, dining, beaches, employment centers, and freeway access. Walk Score is 67, Bike Score is 65, and Transit Score is 59, reflecting access to multiple transportation options and nearby services.
The property is located in Long Beach near shopping, dining, beaches, employment centers, and freeway access. Walk Score is 67, Bike Score is 65, and Transit Score is 59, reflecting access to multiple transportation options and nearby services.
Key Highlights
- Four side‑by‑side residences with individual garages
- Unit mix includes one 2‑bedroom, 1‑bathroom residence and three 1‑bedroom, 1‑bathroom residences
- Built in 1940
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
$52,766
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
4.80%
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%
$1,055,320
$1.1M
Cap Rate 7%
$753,800
$753.8K
Cap Rate 9%
$586,289
$586.3K
Market Conditions
NOI Build-Up for 2,945 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
$79.5K $27.00/SF
− Vacancy
−$4.1K −$1.40/SF
EGI
$75.4K $25.60/SF
− OpEx
−$22.6K −$7.68/SF
NOI
$52.8K $17.92/SF
Area
ZIP 90806
Vacancy
5.20%
Lease Rate
$27.00 /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%
$1,055,320
Cap Rate 7%
$753,800
Cap Rate 9%
$586,289
Alternative Uses
Best Use
Multifamily LT 5
$753.8K
$659.6K – $879.4K
NOI $52,766 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$677.4K
$592.8K – $790.3K
NOI $47,420 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,372 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,892
Businesses Nearby
Explore this area
Business Placement
Demographics for 90806, CA
41,611
Population
13,106
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
72%
High-School Grad
4.9 sq mi
ZIP Area
8,492
Density / Sq Mi
$73,674
Median Household Income
$36,691
Median Earnings
$1,672
Median Rent
$699,800
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 - Side-by-side residences include private garages, hardwood floors, built-in storage, and shared laundry facilities.
Where is this quadplex located?
The property is located at 2441 Cedar Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four side‑by‑side residences with individual garages; Unit mix includes one 2‑bedroom, 1‑bathroom residence and three 1‑bedroom, 1‑bathroom residences; Built in 1940
