Updated 18-Unit Apartment
For Sale
$4,995,000
2500-2506 E Spaulding St, Long Beach, CA 90804
Residences have refreshed two-bedroom layouts, gated keypad entry, and separate electric meters.
Property Size14,866 SF
Price / SF$336
Days on Market8
Property Features for 2500-2506 E Spaulding St
General Information
Standard status
Active
Size
14,866 SF
Total Parking Spaces
16
Property subtype
Multi-Family
Net Operating Income
$307,432
Financials
Asking Price
$4,995,000
Cap Rate
6.2%
Units
Unit Mix
18 x 2BR/1BA
Multifamily Units
18
Additional Details
Utilities to Site
Yes
Amenities
onsite laundry rooms
gated keypad access
central courtyard
Building Details
Year Built
1962
Buildings
2
Listing Agency:
Triqor Group
Listed By:
Christopher Walker chris.walker@triqorgroup.com
Source:
Viewsandiegorealestate
Added: Oct 13
Changed: Oct 19
Last Checked: Oct 19 at 7:14AM
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 Triqor Group
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Investment Insights
Based on property information with market context.
This 18-unit apartment property comprises two buildings totaling 14,866 square feet, constructed in 1962. Each apartment has a two-bedroom, one-bath layout with stainless steel appliances, wood-look plank flooring, and ceiling fans. A central courtyard, two laundry rooms, and gated keypad access serve the property. Electrical service is individually metered for each residence.
The property is at 2500-2506 E Spaulding St in the Zaferia area of East Long Beach. Parking includes eight enclosed garages and eight open spaces. Exterior paint has also been refreshed.
The property is at 2500-2506 E Spaulding St in the Zaferia area of East Long Beach. Parking includes eight enclosed garages and eight open spaces. Exterior paint has also been refreshed.
Key Highlights
- 18 apartments, each with a two‑bedroom, one‑bath layout
- Two buildings with 14,866 square feet; built in 1962
- Eight enclosed garages and eight open parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,290
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,685,800
$5.7M
Cap Rate 7%
$4,061,286
$4.1M
Cap Rate 9%
$3,158,778
$3.2M
Market Conditions
NOI Build-Up for 14,866 SF
Gross rent
$544.1K $36.60/SF
− Vacancy
−$27.2K −$1.83/SF
EGI
$516.9K $34.77/SF
− OpEx
−$232.6K −$15.65/SF
NOI
$284.3K $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 Rate 5%
$5,685,800
Cap Rate 7%
$4,061,286
Cap Rate 9%
$3,158,778
Alternative Uses
Best Use
Apartment 5plus
$4.06M
$3.55M – $4.74M
NOI $284,290 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.96M
$6.96M – $9.29M
NOI $557,144 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
18
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residences have refreshed two-bedroom layouts, gated keypad entry, and separate electric meters.
Where is this apartment building located?
The property is located at 2500-2506 E Spaulding St Long Beach, CA.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 18 apartments, each with a two‑bedroom, one‑bath layout; Two buildings with 14,866 square feet; built in 1962; Eight enclosed garages and eight open parking spaces
