5-Unit Apartment
For Sale
Contact for pricing
3632 E 1st, Long Beach, CA 90803
Gas and electric are separately metered, with private rear off-street parking.
Property Size4,771 SF
Lot Size0.13 Acres
Price / SF$544.96
Days on Market11
Property Features for 3632 E 1st
General Information
Standard status
Active
Size
4,771 SF
Total Parking Spaces
5
Lot size
0.13 Acres
Property subtype
Multifamily
Zoning
Assessor
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
5
Building Details
Year Built
1923
Buildings
1
Units
5
Listing Agency:
Kristina Moore Properties
Listed By:
Kristina Moore · License #01926377
Source:
Crexi
Added: Aug 26
Changed: Sep 4
Last Checked: Sep 2 at 2:44AM
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 Kristina Moore Properties
Investment Insights
Based on property information with market context.
Built in 1923, this five-unit apartment property contains approximately 4,771 square feet on a 5,793-square-foot lot. The building includes five private off-street parking spaces at the rear, while gas and electric service is separately metered. It is being offered for the first time in 36 years.
The property is located in Belmont Heights, one block from the beach and near Belmont Shore, Alamitos Bay, and the shops and restaurants along 2nd Street. The surrounding area also includes local dining, coffee shops, boutique retail, and shoreline access. The address is 3632 E. 1st Street, Long Beach, California 90803.
The property is located in Belmont Heights, one block from the beach and near Belmont Shore, Alamitos Bay, and the shops and restaurants along 2nd Street. The surrounding area also includes local dining, coffee shops, boutique retail, and shoreline access. The address is 3632 E. 1st Street, Long Beach, California 90803.
Key Highlights
- Five‑unit apartment property at 3632 E. 1st Street, Long Beach, CA 90803
- Approximately 4,771 square feet on a 5,793‑square‑foot lot
- Built in 1923
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
$91,238
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
3.51%
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%
$1,824,760
$1.8M
Cap Rate 7%
$1,303,400
$1.3M
Cap Rate 9%
$1,013,756
$1.0M
Market Conditions
NOI Build-Up for 4,771 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
$174.6K $36.60/SF
− Vacancy
−$8.7K −$1.83/SF
EGI
$165.9K $34.77/SF
− OpEx
−$74.6K −$15.65/SF
NOI
$91.2K $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%
$1,824,760
Cap Rate 7%
$1,303,400
Cap Rate 9%
$1,013,756
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,238 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.24M – $2.98M
NOI $178,806 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
967
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Gas and electric are separately metered, with private rear off-street parking.
Where is this apartment building located?
The property is located at 3632 E 1st Long Beach, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Five‑unit apartment property at 3632 E. 1st Street, Long Beach, CA 90803; Approximately 4,771 square feet on a 5,793‑square‑foot lot; Built in 1923
