Three-Unit Bungalow
New
For Sale
$1,495,000
312 Orizaba Ave, Long Beach, CA 90814
Three separately leased one-bedroom homes each include private laundry, with three garage spaces serving the property.
Property Size2,158 SF
Days on Market2
Property Features for 312 Orizaba Ave
General Information
Standard status
Active
Size
2,158 SF
Total Parking Spaces
3
Property subtype
Investment
Occupancy
100%
Site & Location
Neighborhood
Bluff Heights
Road Access
Yes
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Amenities
covered porch
French doors
laundry room
crown molding
ceiling fans
tiled kitchen with gas range
shared lawn and patio
Building Details
Building Size
2,158 SF
Year Built
1921
Stories
1
Units
3
Construction
bungalow
Tenancy
Multi
Listed By:
Ronald Pickett
(949) 246-8500
Source:
Elliman
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 4:24AM
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 Ronald Pickett
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Investment Insights
Based on property information with market context.
Built in 1921, this triplex comprises two side-by-side bungalow homes at the front and a detached cottage behind them. Each residence has one bedroom, one bathroom, and a dedicated laundry room. The front bungalows feature covered porches and French doors; shared outdoor space includes a lawn, patio, and deck. Interior details include crown molding, ceiling fans, tiled kitchens, and gas ranges. Vinyl plank flooring and fresh paint have been added in all three units, with new water heaters in the two front homes.
All three units are leased. The property is in Belmont Heights, a few blocks from the beach, with access to Redondo Avenue, Broadway, 4th Street shops and restaurants, and Belmont Shore. Walk Score is 79, Bike Score is 57, and Transit Score is 55.
All three units are leased. The property is in Belmont Heights, a few blocks from the beach, with access to Redondo Avenue, Broadway, 4th Street shops and restaurants, and Belmont Shore. Walk Score is 79, Bike Score is 57, and Transit Score is 55.
Key Highlights
- Three one‑bedroom, one‑bath units, each with its own laundry room
- Three garage spaces
- Built in 1921
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,398
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,960
$928.0K
Cap Rate 7%
$662,829
$662.8K
Cap Rate 9%
$515,533
$515.5K
Market Conditions
NOI Build-Up for 2,158 SF
Gross rent
$69.9K $32.40/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$66.3K $30.72/SF
− OpEx
−$19.9K −$9.21/SF
NOI
$46.4K $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 Rate 5%
$927,960
Cap Rate 7%
$662,829
Cap Rate 9%
$515,533
Alternative Uses
Best Use
Multifamily LT 5
$662.8K
$580.0K – $773.3K
NOI $46,398 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$589.6K
$515.9K – $687.8K
NOI $41,269 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,877 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,162
Businesses Nearby
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Business Placement
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately leased one-bedroom homes each include private laundry, with three garage spaces serving the property.
Where is this triplex located?
The property is located at 312 Orizaba Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bath units, each with its own laundry room; Three garage spaces; Built in 1921
