Single-Story Duplex with Alley
For Sale
$920,000
2690 Oregon Ave, Long Beach, CA 90806
Occupied two-unit property on a corner lot with LBR1N zoning.
Property Size2,034 SF
Lot Size0.15 Acres
Price / SF$452.31
Days on Market36
Property Features for 2690 Oregon Ave
General Information
Standard status
Active
Size
2,034 SF
Lot size
0.15 Acres
Property subtype
Residential Income
Zoning
LBR1N
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
1
Listing Agency:
IET Real Estate
(310) 874-1278
Listed By:
Mischa Ben Nicolas
(310) 874-1278
Source:
Exprealty
Added: Jul 28
Changed: Aug 24
Last Checked: Aug 30 at 8:13PM
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 IET Real Estate
Investment Insights
Based on property information with market context.
This single-story duplex contains 2,034 square feet on a 6,461-square-foot corner lot with alley access. The property is currently occupied and is offered strictly in its existing condition, with the seller making no repairs. Interior access is available by appointment, and offers remain subject to interior inspection.
Located in Long Beach’s Wrigley neighborhood, the property sits on a tree-lined street near shopping along Willow Street, local restaurants, the Wrigley Greenbelt trail, and freeway connections. The LBR1N zoning designation and two-unit configuration define the property’s current residential income use.
Located in Long Beach’s Wrigley neighborhood, the property sits on a tree-lined street near shopping along Willow Street, local restaurants, the Wrigley Greenbelt trail, and freeway connections. The LBR1N zoning designation and two-unit configuration define the property’s current residential income use.
Key Highlights
- Single‑story duplex totaling 2,034 square feet
- 6,461‑square‑foot corner lot with alley access
- LBR1N zoning designation
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
$36,444
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
3.96%
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%
$728,880
$728.9K
Cap Rate 7%
$520,629
$520.6K
Cap Rate 9%
$404,933
$404.9K
Market Conditions
NOI Build-Up for 2,034 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
$54.9K $27.00/SF
− Vacancy
−$2.9K −$1.40/SF
EGI
$52.1K $25.60/SF
− OpEx
−$15.6K −$7.68/SF
NOI
$36.4K $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%
$728,880
Cap Rate 7%
$520,629
Cap Rate 9%
$404,933
Alternative Uses
Best Use
Multifamily LT 5
$520.6K
$455.6K – $607.4K
NOI $36,444 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$467.9K
$409.4K – $545.9K
NOI $32,751 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.09M
$952.9K – $1.27M
NOI $76,230 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,387
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-unit property on a corner lot with LBR1N zoning.
Where is this duplex located?
The property is located at 2690 Oregon Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Single‑story duplex totaling 2,034 square feet; 6,461‑square‑foot corner lot with alley access; LBR1N zoning designation
