Twelve-Unit Apartment
For Sale
$2,400,000
Pending
3522 E Broadway, Long Beach, CA 90803
Twelve-unit apartment complex on a level parcel featuring studio and one-bedroom units within three two-story buildings.
Property Size7,562 SF
Lot Size0.14 Acres
Days on Market139
Property Features for 3522 E Broadway
General Information
Standard status
Pending
Size
7,562 SF
Lot size
0.14 Acres
Property subtype
Apartment
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$29,953
Amenities
balconies
Building Details
Building Size
7,562 SF
Year Built
1923
Stories
2
Construction
woodframe and stucco
Tenancy
Multi
Listing Agency:
Carl Reinhart, Broker
Listed By:
Carl Reinhart · License #00647355
(714) 404-8020
Source:
Velocityrealtysd
Added: Apr 30
Changed: Aug 31
Last Checked: Sep 14 at 8:24AM
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 Carl Reinhart, Broker
Investment Insights
Based on property information with market context.
This offering is a twelve-unit apartment complex comprising three, two-story woodframe and stucco apartment buildings. The buildings were constructed in 1923 and have been renovated on multiple occasions. The total building area is 7,562 square feet, and the property is situated on a level, rectangular 6,189 square foot parcel. Unit mix includes five studio units and seven one-bedroom/one-bath units, with some units having balconies.
The complex is located on the southwest corner of East Broadway and Loma Avenue at 3522-3536 East Broadway and 223 Loma Avenue. East Broadway is described as a busy traffic corridor through the city and is developed with a mix of retail and office buildings as well as single-family homes and small apartment buildings.
The surrounding area is noted for its residential income demand in the Belmont Heights neighborhood. Nearby points of reference cited in the remarks include Woodrow Wilson High School (less than one mile northeast), Recreation Park (one mile to the northeast), and Belmont Shore (less than three-quarters of a mile to the east).
The complex is located on the southwest corner of East Broadway and Loma Avenue at 3522-3536 East Broadway and 223 Loma Avenue. East Broadway is described as a busy traffic corridor through the city and is developed with a mix of retail and office buildings as well as single-family homes and small apartment buildings.
The surrounding area is noted for its residential income demand in the Belmont Heights neighborhood. Nearby points of reference cited in the remarks include Woodrow Wilson High School (less than one mile northeast), Recreation Park (one mile to the northeast), and Belmont Shore (less than three-quarters of a mile to the east).
Key Highlights
- 12‑unit apartment complex with three two‑story woodframe and stucco buildings totaling 7,562 sf
- Unit mix: five studio and seven one‑bedroom/one‑bath units, with select units featuring balconies
- Built in 1923; buildings renovated on multiple occasions
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
$144,612
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
6.03%
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%
$2,892,240
$2.9M
Cap Rate 7%
$2,065,886
$2.1M
Cap Rate 9%
$1,606,800
$1.6M
Market Conditions
NOI Build-Up for 7,562 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
$276.8K $36.60/SF
− Vacancy
−$13.8K −$1.83/SF
EGI
$262.9K $34.77/SF
− OpEx
−$118.3K −$15.65/SF
NOI
$144.6K $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 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%
$2,892,240
Cap Rate 7%
$2,065,886
Cap Rate 9%
$1,606,800
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.41M
NOI $144,612 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.05M
$3.54M – $4.72M
NOI $283,407 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,371
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit apartment complex on a level parcel featuring studio and one-bedroom units within three two-story buildings.
Where is this apartment building located?
The property is located at 3522 E Broadway Long Beach, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12‑unit apartment complex with three two‑story woodframe and stucco buildings totaling 7,562 sf; Unit mix: five studio and seven one‑bedroom/one‑bath units, with select units featuring balconies; Built in 1923; buildings renovated on multiple occasions
