4-Unit Multifamily
For Sale
$1,725,000
28 Argonne Avenue, Long Beach, CA 90803
Each residence has separate gas and electric meters, while a shared laundry area is located in the alley-accessed garage.
Property Size2,700 SF
Price / SF$638.89
Days on Market210
Property Features for 28 Argonne Avenue
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
2
Property subtype
Quadruplex
Occupancy
100%
Site & Location
Neighborhood
Belmont Shore
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Amenities
shared laundry
Building Details
Building Size
2,700 SF
Year Built
1928
Listing Agency:
Keller Williams Pacific Estate
(562) 972-4336
Listed By:
Beatrix Whipple · License #01355505
(562) 513-7800
Source:
Canadaygroup
Added: Apr 1
Changed: Oct 26
Last Checked: Oct 26 at 3:12PM
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 Keller Williams Pacific Estate
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Investment Insights
Based on property information with market context.
Built in 1928, this four-unit property includes two one-bedroom, one-bath residences and two two-bedroom, one-bath residences. Each unit has its own gas and electric meter. The alley-accessed garage contains shared laundry, and all four units are occupied.
The property is near the beach and the shops, restaurants, and cafes along 2nd Street. Nearby destinations include Rosie's Dog Beach, Belmont Pier, and more than four miles of coastline. The 2nd & PCH shopping center, with Whole Foods, retailers, and waterfront dining, is also close by.
The property is near the beach and the shops, restaurants, and cafes along 2nd Street. Nearby destinations include Rosie's Dog Beach, Belmont Pier, and more than four miles of coastline. The 2nd & PCH shopping center, with Whole Foods, retailers, and waterfront dining, is also close by.
Key Highlights
- Four units: two 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units
- Separate gas and electric meters for each residence
- Alley‑accessed 2‑car garage with shared laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,052
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,161,040
$1.2M
Cap Rate 7%
$829,314
$829.3K
Cap Rate 9%
$645,022
$645.0K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$87.5K $32.40/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$82.9K $30.72/SF
− OpEx
−$24.9K −$9.21/SF
NOI
$58.1K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,161,040
Cap Rate 7%
$829,314
Cap Rate 9%
$645,022
Alternative Uses
Best Use
Multifamily LT 5
$829.3K
$725.7K – $967.5K
NOI $58,052 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$737.6K
$645.4K – $860.6K
NOI $51,633 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,190 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
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Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
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?
Quadplex - Each residence has separate gas and electric meters, while a shared laundry area is located in the alley-accessed garage.
Where is this quadplex located?
The property is located at 28 Argonne Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Four units: two 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units; Separate gas and electric meters for each residence; Alley‑accessed 2‑car garage with shared laundry
