18-Unit Apartment
For Sale
$4,995,000
2500 2506 E Spaulding Street, Long Beach, CA 90804
Updated two-bedroom homes are arranged across a pair of buildings with a central courtyard.
Property Size14,886 SF
Price / SF$335.55
Days on Market14
Property Features for 2500 2506 E Spaulding Street
General Information
Standard status
Active
Size
14,886 SF
Total Parking Spaces
16
Property subtype
Residential Income
Net Operating Income
$307,432
Financials
Asking Price
$4,995,000
Cap Rate
6.2%
Site & Location
Neighborhood
Zaferia
Units
Unit Mix
18 x 2BR/1BA
Multifamily Units
18
Amenities
on-site laundry
gated access
courtyard
Building Details
Building Size
14,886 SF
Year Built
1962
Buildings
2
Stories
2
Units
18
Listing Agency:
Triqor Group
(949) 756-3232
Listed By:
Christopher Walker
Source:
Carealestatecenter
Added: Oct 14
Changed: Oct 25
Last Checked: Oct 26 at 3:37AM
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.
At 2500–2506 E. Spaulding Street in Long Beach, this 18-unit apartment property consists of two buildings constructed in 1962. Each residence has two bedrooms and one bathroom, with updated interiors featuring stainless steel appliances, wood-look plank flooring and ceiling fans. Fresh two-tone exterior paint and a central courtyard complete the property’s physical features.
Residents have access to eight enclosed garages, eight open parking spaces and two on-site laundry rooms. Individual electric meters serve each apartment, and entry is controlled by a gated keypad. The property is in the Zaferia submarket of East Long Beach.
Residents have access to eight enclosed garages, eight open parking spaces and two on-site laundry rooms. Individual electric meters serve each apartment, and entry is controlled by a gated keypad. The property is in the Zaferia submarket of East Long Beach.
Key Highlights
- 18 apartments, each with a two‑bedroom, one‑bath layout
- Two buildings constructed in 1962
- Eight enclosed garages and eight open parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,672
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,693,440
$5.7M
Cap Rate 7%
$4,066,743
$4.1M
Cap Rate 9%
$3,163,022
$3.2M
Market Conditions
NOI Build-Up for 14,886 SF
Gross rent
$544.8K $36.60/SF
− Vacancy
−$27.2K −$1.83/SF
EGI
$517.6K $34.77/SF
− OpEx
−$232.9K −$15.65/SF
NOI
$284.7K $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%
$5,693,440
Cap Rate 7%
$4,066,743
Cap Rate 9%
$3,163,022
Alternative Uses
Best Use
Apartment 5plus
$4.07M
$3.56M – $4.74M
NOI $284,672 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.97M
$6.97M – $9.30M
NOI $557,893 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated two-bedroom homes are arranged across a pair of buildings with a central courtyard.
Where is this apartment building located?
The property is located at 2500 2506 E Spaulding Street 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 constructed in 1962; Eight enclosed garages and eight open parking spaces
