Renovated Fourplex with Detached
For Sale
$1,450,000
404 E Freeland St, Long Beach, CA 90807
Four updated residences include separate garages, on-site laundry, and potential for additional detached units, subject to approval.
Property Size3,256 SF
Lot Size0.22 Acres
Price / SF$445.33
Days on Market15
Property Features for 404 E Freeland St
General Information
Standard status
Active
Size
3,256 SF
Total Parking Spaces
11
Lot size
0.22 Acres
Property subtype
Residential Income
Occupancy
100%
Financials
Asking Price
$1,450,000
Gross Income
$127,718
Average Monthly Rent
$2,457
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
on-site laundry
Building Details
Year Renovated
2019
Listing Agency:
eXp Realty of Greater L.A
(888) 652-1314
Listed By:
Andrew McAllister
(925) 683-9203
Source:
Exprealty
Added: Sep 22
Changed: Oct 5
Last Checked: Oct 5 at 8:36PM
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 eXp Realty of Greater L.A
Investment Insights
Based on property information with market context.
This fourplex contains four two-bedroom, one-bath residences totaling approximately 3,256 square feet on an approximately 9,498-square-foot lot. Each unit was renovated in 2019 and has mini-split heating and cooling and upgraded appliances. The property also includes four detached garages, seven surface parking spaces, on-site laundry, and separately metered gas and electricity. It is fully leased, with a projected 7.27% cap rate and approximately 16% rental upside described through turnover updates and rent growth.
The rear garage area may allow for as many as four detached ADUs while retaining surface parking, subject to buyer verification and City approval. The property is near dining and shopping along Atlantic Avenue and provides proximity to the 405 and 710 freeways.
The rear garage area may allow for as many as four detached ADUs while retaining surface parking, subject to buyer verification and City approval. The property is near dining and shopping along Atlantic Avenue and provides proximity to the 405 and 710 freeways.
Key Highlights
- Four two‑bedroom, one‑bath units totaling approximately 3,256 SF
- Approximately 9,498 SF lot with four detached garages and seven surface parking spaces
- All residences renovated in 2019; mini‑split heating and cooling and upgraded appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,006
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,120
$1.4M
Cap Rate 7%
$1,000,086
$1.0M
Cap Rate 9%
$777,844
$777.8K
Market Conditions
NOI Build-Up for 3,256 SF
Gross rent
$105.5K $32.40/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$100.0K $30.72/SF
− OpEx
−$30.0K −$9.21/SF
NOI
$70.0K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,120
Cap Rate 7%
$1,000,086
Cap Rate 9%
$777,844
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.1K – $1.17M
NOI $70,006 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$889.5K
$778.3K – $1.04M
NOI $62,266 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,027 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
Explore this area
Business Placement
Demographics for 90807, CA
32,412
Population
13,345
Households
2.4
Avg Household Size
41
Median Age
45%
College-Educated
90%
High-School Grad
4.4 sq mi
ZIP Area
7,366
Density / Sq Mi
$95,079
Median Household Income
$56,392
Median Earnings
$1,892
Median Rent
$832,200
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?
Quadplex - Four updated residences include separate garages, on-site laundry, and potential for additional detached units, subject to approval.
Where is this quadplex located?
The property is located at 404 E Freeland St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units totaling approximately 3,256 SF; Approximately 9,498 SF lot with four detached garages and seven surface parking spaces; All residences renovated in 2019; mini‑split heating and cooling and upgraded appliances
