Six-Unit Apartment Building with
New
For Sale
$2,000,000
3512 E 1st, Long Beach, CA 90803
One- and two-bedroom layouts are complemented by single-car garage parking.
Property Size5,622 SF
Days on Market5
Property Features for 3512 E 1st
General Information
Standard status
Active
Size
5,622 SF
Total Parking Spaces
4
Property subtype
Apartment
Site & Location
Neighborhood
Bluff Park
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
6
Additional Details
Gross Income
$125,544
Tenant in Place
Yes
Building Details
Building Size
5,622 SF
Year Built
1922
Listing Agency:
Realty World Allensworth
Listed By:
Jeffery Allensworth · License #01083399
Source:
Velocityrealtysd
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:34PM
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 Realty World Allensworth
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Investment Insights
Based on property information with market context.
Built in 1922, this six-unit apartment property includes four one-car garages. The unit mix consists of four one-bedroom apartments and two two-bedroom apartments; one of the two-bedroom units has two bathrooms, while the other has one.
The property is in Long Beach’s Bluff Heights area, approximately half a block from the beach.
The property is in Long Beach’s Bluff Heights area, approximately half a block from the beach.
Key Highlights
- Six apartments: four one‑bedroom units and two two‑bedroom units
- Four one‑car garages
- One two‑bedroom apartment has two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,512
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,150,240
$2.2M
Cap Rate 7%
$1,535,886
$1.5M
Cap Rate 9%
$1,194,578
$1.2M
Market Conditions
NOI Build-Up for 5,622 SF
Gross rent
$205.8K $36.60/SF
− Vacancy
−$10.3K −$1.83/SF
EGI
$195.5K $34.77/SF
− OpEx
−$88.0K −$15.65/SF
NOI
$107.5K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,150,240
Cap Rate 7%
$1,535,886
Cap Rate 9%
$1,194,578
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,512 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,700 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
967
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom layouts are complemented by single-car garage parking.
Where is this apartment building located?
The property is located at 3512 E 1st Long Beach, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Six apartments: four one‑bedroom units and two two‑bedroom units; Four one‑car garages; One two‑bedroom apartment has two bathrooms
