Duplex With Detached
For Sale
$895,000
2901 E 15th St, Long Beach, CA 90804
Two three-bedroom residences include private outdoor space and dedicated parking.
Property Size1,739 SF
Price / SF$514.66
Days on Market117
Property Features for 2901 E 15th St
General Information
Standard status
Active
Size
1,739 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1.75BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
washer and dryer hookups
private backyard
detached garage
surface parking
driveway
Building Details
Buildings
1
Listing Agency:
Keller Williams Beverly Hills
(310) 420-8404
Listed By:
Joshua Johnson · License #01824930
(310) 420-8404
Source:
Exprealty
Added: May 7
Changed: Aug 31
Last Checked: Aug 31 at 12:45AM
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 Beverly Hills
Investment Insights
Based on property information with market context.
This duplex contains two three-bedroom residences, configured with one 1.5-bath unit and one 1.75-bath unit, within 1,739 square feet. Both residences include washer and dryer hookups, private backyards, individual water heaters, and separate gas and electric meters. The property has been maintained and upgraded as needed.
Parking is provided through a detached garage, rear surface spaces, and a front driveway. Tenants pay for trash removal, while separate utility metering supports distinct occupant billing for gas and electricity. The property is located in Long Beach’s Zaferia neighborhood.
Parking is provided through a detached garage, rear surface spaces, and a front driveway. Tenants pay for trash removal, while separate utility metering supports distinct occupant billing for gas and electricity. The property is located in Long Beach’s Zaferia neighborhood.
Key Highlights
- Two‑unit duplex totaling 1,739 square feet
- Unit mix includes one 3‑bedroom, 1.5‑bath residence and one 3‑bedroom, 1.75‑bath residence
- Private backyard provided for each unit
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
$37,390
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
4.18%
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%
$747,800
$747.8K
Cap Rate 7%
$534,143
$534.1K
Cap Rate 9%
$415,444
$415.4K
Market Conditions
NOI Build-Up for 1,739 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
$56.3K $32.40/SF
− Vacancy
−$2.9K −$1.68/SF
EGI
$53.4K $30.72/SF
− OpEx
−$16.0K −$9.21/SF
NOI
$37.4K $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 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%
$747,800
Cap Rate 7%
$534,143
Cap Rate 9%
$415,444
Alternative Uses
Best Use
Multifamily LT 5
$534.1K
$467.4K – $623.2K
NOI $37,390 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$475.1K
$415.7K – $554.3K
NOI $33,256 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$931.1K
$814.7K – $1.09M
NOI $65,174 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,061
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences include private outdoor space and dedicated parking.
Where is this duplex located?
The property is located at 2901 E 15th St Long Beach, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,739 square feet; Unit mix includes one 3‑bedroom, 1.5‑bath residence and one 3‑bedroom, 1.75‑bath residence; Private backyard provided for each unit
