Twelve-Unit Apartment
3522 E Broadway Long Beach, CA 90803
For Sale
Contact for pricing
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
Price / SF$317.38
Days on Market86
Property Features for 3522 E Broadway
General Information
- Standard status
- Active
- Size
- 7,562 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multifamily
Listing Agency:
Carl Reinhart LLC - Carl Reinhart
Listed By:
Carl Reinhart · License #NV
Source:
Crexi
Added: Apr 30
Changed: Jul 23
Last Checked: Jul 23 at 7:22AM
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 LLC - Carl Reinhart
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.8k | $36.60 |
| − Vacancy | −$13.8k | −$1.83 |
| EGI | $262.9k | $34.77 |
| − OpEx | −$118.3k | −$15.65 |
| NOI | $144.6k | $19.12 |
7,562 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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
