Detached Spanish
For Sale
Under Contract
$1,695,000
323 Park Avenue, Long Beach, CA 90814
Long Beach, CA
Property Size2,602 SF
Lot Size0.15 Acres
Price / SF$651.42
Days on Market57
Property Features for 323 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Laundry Room, Bedroom 4, Bathroom 2, Bathroom 1, Family Room, Bathroom 3, Bedroom 1
Parking
7
Parking features
Driveway, Garage
Patio and Porch features
Patio, Porch
Interior features
Crown Molding, Balcony, Block Walls, Built-in Features, Unfurnished, High Ceilings, Pantry, Tile Counters
Exterior features
Awning(s)
Appliances
Disposal, Electric Water Heater, Microwave, Electric Range, Electric Oven, Dishwasher
Subdivision
Belmont Heights (BH)
Lot features
Sprinklers In Front, Front Yard, Back Yard, Yard
Elementary school district
Long Beach Unified
Middle school district
Long Beach Unified
High school district
Long Beach Unified
Directions
Park Ave & E Colorado St
Standard status
Active Under Contract
APN
7250015022
Size
2,602 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Floor Furnace
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Building materials
Stucco
Architectural style
Spanish
Additional Structures
Storage
Listing Agency:
First Team Real Estate
(562) 438-3130
Listed By:
Sue La Bounty · License #01161648
(562) 930-3554
Added: Jul 5
Changed: Aug 25
Last Checked: Aug 30 at 2:06PM
MLS# OC26142272
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1926 Spanish-style duplex at 323 Park Avenue comprises two detached residences on a 0.149-acre lot. The front home offers two stories, original wood floors, built-in features, picture windows, a formal dining room, vintage tile kitchen, three bedrooms, two full bathrooms, and a main-level powder room. The rear dwelling is a one-bedroom, one-bath apartment positioned above a detached two-car garage, with separate entrances for added privacy. A bonus room beside the garage provides additional interior space, while a long driveway serves both garages and supports off-street parking.
The property is located in Belmont Heights in Long Beach, within ZIP code 90814. Public water and public sewer serve the property. Stucco construction, Spanish architectural detailing, a private balcony, patio and porch areas, wood and tile flooring, and a floor furnace are among the existing features.
The property is located in Belmont Heights in Long Beach, within ZIP code 90814. Public water and public sewer serve the property. Stucco construction, Spanish architectural detailing, a private balcony, patio and porch areas, wood and tile flooring, and a floor furnace are among the existing features.
Key Highlights
- Two detached residences on a 0.149‑acre lot
- 2,602 square feet of property size
- 1926 Spanish architectural style with stucco construction
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
$55,945
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
3.30%
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%
$1,118,900
$1.1M
Cap Rate 7%
$799,214
$799.2K
Cap Rate 9%
$621,611
$621.6K
Market Conditions
NOI Build-Up for 2,602 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
$84.3K $32.40/SF
− Vacancy
−$4.4K −$1.68/SF
EGI
$79.9K $30.72/SF
− OpEx
−$24.0K −$9.21/SF
NOI
$55.9K $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%
$1,118,900
Cap Rate 7%
$799,214
Cap Rate 9%
$621,611
Alternative Uses
Best Use
Multifamily LT 5
$799.2K
$699.3K – $932.4K
NOI $55,945 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$710.8K
$622.0K – $829.3K
NOI $49,759 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,517 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
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
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 separate residences include a rear apartment above a detached garage, with off-street parking and flexible bonus space.
Where is this duplex located?
The property is located at 323 Park Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two detached residences on a 0.149‑acre lot; 2,602 square feet of property size; 1926 Spanish architectural style with stucco construction
