Duplex with Two 2BR
For Sale
$840,000
410 21st Street, Long Beach, CA 90806
Two 2-bedroom units each with separate gas and electric meters, plus one garage space per unit.
Property Size1,931 SF
Price / SF$435.01
Days on Market193
Property Features for 410 21st Street
General Information
Standard status
Active
Size
1,931 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
3
2 Garage Spaces. 2 Parking Spaces. Carport.
No Common Walls, Street Lights, Sidewalks.
Building Details
Year Built
1923
Stories
2
Listing Agency:
(310) 544-6100
Listed By:
Keller Williams Palos Verdes
Source:
Xome
Added: Jan 28
Changed: Aug 8
Last Checked: Aug 8 at 3:48AM
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 Keller Williams Palos Verdes
Investment Insights
Based on property information with market context.
This duplex includes two separate 2-bedroom units. One unit is currently vacant, supporting an owner-occupancy arrangement while the other unit provides rental income. Each unit has its own gas and electric meters, and there is one garage space associated with the duplex.
The property is located at 410 E 21st Street in Long Beach, CA 90806. The owner pays for water.
From a utility and occupancy standpoint, the separate metering provides independent billing for gas and electric, and the current vacancy offers flexibility for an owner-occupant or investor to control unit occupancy at the time of purchase.
The property is located at 410 E 21st Street in Long Beach, CA 90806. The owner pays for water.
From a utility and occupancy standpoint, the separate metering provides independent billing for gas and electric, and the current vacancy offers flexibility for an owner-occupant or investor to control unit occupancy at the time of purchase.
Key Highlights
- Duplex with two 2‑bedroom units in Long Beach
- One unit is currently vacant, allowing owner‑occupancy while renting the other unit
- Each unit has separate gas and electric meters
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
$34,598
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
4.12%
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%
$691,960
$692.0K
Cap Rate 7%
$494,257
$494.3K
Cap Rate 9%
$384,422
$384.4K
Market Conditions
NOI Build-Up for 1,931 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
$52.1K $27.00/SF
− Vacancy
−$2.7K −$1.40/SF
EGI
$49.4K $25.60/SF
− OpEx
−$14.8K −$7.68/SF
NOI
$34.6K $17.92/SF
Area
ZIP 90806
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$691,960
Cap Rate 7%
$494,257
Cap Rate 9%
$384,422
Alternative Uses
Best Use
Multifamily LT 5
$494.3K
$432.5K – $576.6K
NOI $34,598 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$444.2K
$388.7K – $518.2K
NOI $31,093 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.03M
$904.6K – $1.21M
NOI $72,369 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 90806, CA
41,611
Population
13,106
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
72%
High-School Grad
4.9 sq mi
ZIP Area
8,492
Density / Sq Mi
$73,674
Median Household Income
$36,691
Median Earnings
$1,672
Median Rent
$699,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two 2-bedroom units each with separate gas and electric meters, plus one garage space per unit.
Where is this duplex located?
The property is located at 410 21st Street Long Beach, CA.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom units in Long Beach; One unit is currently vacant, allowing owner‑occupancy while renting the other unit; Each unit has separate gas and electric meters
