Six-Unit Apartment
For Sale
$1,595,000
3622 E 11th, Long Beach, CA 90804
Remodeled multifamily property with varied unit layouts, private outdoor areas, laundry amenities, and dedicated parking.
Property Size3,800 SF
Days on Market9
Property Features for 3622 E 11th
General Information
Standard status
Active
Size
3,800 SF
Net Rentable
3,800 SF
Total Parking Spaces
5
Property subtype
Apartment
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
6
Additional Details
Gross Rent Multiplier
11.14
Amenities
in-unit laundry
community laundry room
outdoor private spaces
Building Details
Building Size
3,800 SF
Year Built
1950
Stories
2
Listing Agency:
Buckingham Investments, Inc
Listed By:
Anthony Walker · License #01908153
(310) 561-4776
Source:
Nolanrossre.kw
Added: Sep 8
Changed: Sep 14
Last Checked: Sep 16 at 12:55PM
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 Buckingham Investments, Inc
Investment Insights
Based on property information with market context.
Built in 1950, this six-unit apartment property offers 3,800 square feet of rentable space across a varied unit mix: four one-bedroom, one-bath residences, one two-bedroom, one-bath residence, and one two-bedroom, one-and-a-half-bath residence. Five units have been recently remodeled, while select residences include in-unit laundry. A shared laundry room provides an additional income source, and outdoor private spaces add usable residential amenities. Parking includes one enclosed garage and four surface spaces. Electrical sub-panels have also been replaced throughout the property.
The property is located at 3622 E 11th in Long Beach, near Cal State Long Beach, Traffic Circle, Wilson High, and Recreation Park. It sits one block from the greenbelt and north of Belmont Heights. The property is offered with an 11.14X GRM and may serve as a 1031 exchange up-leg property.
The property is located at 3622 E 11th in Long Beach, near Cal State Long Beach, Traffic Circle, Wilson High, and Recreation Park. It sits one block from the greenbelt and north of Belmont Heights. The property is offered with an 11.14X GRM and may serve as a 1031 exchange up-leg property.
Key Highlights
- Six‑unit apartment property with 3,800 square feet of rentable space
- Unit mix includes four 1 bed/1 bath, one 2 bed/1 bath, and one 2 bed/1.5 bath units
- Five of 6 units recently remodeled
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
$72,669
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
4.56%
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%
$1,453,380
$1.5M
Cap Rate 7%
$1,038,129
$1.0M
Cap Rate 9%
$807,433
$807.4K
Market Conditions
NOI Build-Up for 3,800 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
$139.1K $36.60/SF
− Vacancy
−$7.0K −$1.83/SF
EGI
$132.1K $34.77/SF
− OpEx
−$59.5K −$15.65/SF
NOI
$72.7K $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%
$1,453,380
Cap Rate 7%
$1,038,129
Cap Rate 9%
$807,433
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$908.4K – $1.21M
NOI $72,669 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,415 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,156
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
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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 - Remodeled multifamily property with varied unit layouts, private outdoor areas, laundry amenities, and dedicated parking.
Where is this apartment building located?
The property is located at 3622 E 11th Long Beach, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Six‑unit apartment property with 3,800 square feet of rentable space; Unit mix includes four 1 bed/1 bath, one 2 bed/1 bath, and one 2 bed/1.5 bath units; Five of 6 units recently remodeled
