Mixed-Use Apartment and Cafe
For Sale
$2,150,000
4340 E 4th St E, Long Beach, CA 90814
1923 mixed-use corner property with nine apartments and an approximately 1,500 SF first-floor cafe suite.
Property Size7,701 SF
Price / SF$279.18
Days on Market121
Property Features for 4340 E 4th St E
General Information
Standard status
Active
Size
7,701 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$29,217
Building Details
Building Size
7,701 SF
Year Built
1923
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
Carl Reinhart, Broker; 714-404-8020
Listed By:
Carl Reinhart · License #00647355
(714) 404-8020
Source:
Elliman
Added: May 10
Changed: Aug 31
Last Checked: Sep 6 at 9:53AM
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, Broker; 714-404-8020
Investment Insights
Based on property information with market context.
The subject is a mixed-use complex featuring one two-story building constructed in 1923 and renovated on multiple occasions. The property totals 7,701 square feet and is situated on a level, rectangular 5,414 square foot parcel on the southwest corner of East 4th Street and Ximeno Avenue. Residential space includes nine one-bedroom, one-bath apartment units.
A first-floor commercial suite is positioned at the hard corner and totals approximately 1,500 square feet. The commercial space is leased to Egg Heaven Cafe, which opened in 1969.
The property is fully occupied and rarely has vacant units. The apartments are subject only to State of California rent control, and most tenants occupy units on a month-to-month basis.
A first-floor commercial suite is positioned at the hard corner and totals approximately 1,500 square feet. The commercial space is leased to Egg Heaven Cafe, which opened in 1969.
The property is fully occupied and rarely has vacant units. The apartments are subject only to State of California rent control, and most tenants occupy units on a month-to-month basis.
Key Highlights
- 1923 mixed‑use corner property in Belmont Heights with 7,701 SF total building on a 5,414 SF level, rectangular parcel.
- Nine 1‑bedroom/1‑bath apartment units plus an approximately 1,500 SF first‑floor commercial suite at the hard corner.
- Commercial unit is leased to Egg Heaven Cafe; cafe opened in 1969.
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
$147,270
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
6.85%
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%
$2,945,400
$2.9M
Cap Rate 7%
$2,103,857
$2.1M
Cap Rate 9%
$1,636,333
$1.6M
Market Conditions
NOI Build-Up for 7,701 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
$281.9K $36.60/SF
− Vacancy
−$14.1K −$1.83/SF
EGI
$267.8K $34.77/SF
− OpEx
−$120.5K −$15.65/SF
NOI
$147.3K $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%
$2,945,400
Cap Rate 7%
$2,103,857
Cap Rate 9%
$1,636,333
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $147,270 @ 7.0% cap · market cap 6.85%
Second Best
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,856 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$4.12M
$3.61M – $4.81M
NOI $288,616 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
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 - 1923 mixed-use corner property with nine apartments and an approximately 1,500 SF first-floor cafe suite.
Where is this apartment building located?
The property is located at 4340 E 4th St E Long Beach, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 1923 mixed‑use corner property in Belmont Heights with 7,701 SF total building on a 5,414 SF level, rectangular parcel.; Nine 1‑bedroom/1‑bath apartment units plus an approximately 1,500 SF first‑floor commercial suite at the hard corner.; Commercial unit is leased to Egg Heaven Cafe; cafe opened in 1969.
