8-Unit Remodeled Apartment
For Sale
$2,590,000
520 Ohio Ave, Long Beach, CA 90814
Remodeled unit mix, community laundry, landscaped frontage, and off-street parking support this established multifamily property.
Property Size5,676 SF
Lot Size0.16 Acres
Price / SF$456.31
Days on Market8
Property Features for 520 Ohio Ave
General Information
Standard status
Active
Size
5,676 SF
Total Parking Spaces
15
Lot size
0.16 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.75BA, 2 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
8
Amenities
community laundry room
Building Details
Year Built
1971
Listing Agency:
ADW Management USA, Inc.
Listed By:
Mariko Artis mariko.a@re-adworks.com
Source:
Findhomesinsandiegoarea
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 4:46PM
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 ADW Management USA, Inc.
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 5,676 square feet on a 6,754-square-foot lot and was constructed in 1971. The unit mix includes two 2-bedroom, 1.75-bath units, two 2-bedroom, 1-bath units, and four 1-bedroom, 1-bath units. All apartments have been previously remodeled. Property improvements include a landscaped front exterior, community laundry room, and off-street parking for up to 15 vehicles.
The property is located at 520 Ohio Avenue in Long Beach, near Retro Row and the 4th Street Corridor. Surrounding amenities include dining and shopping options, a weekly farmers market, and entertainment venues including the historic Art Theatre. The location also provides access to Los Angeles and Orange County commuting routes. Strong occupancy is identified in the source information, while the property’s unit mix and parking complement its multifamily configuration.
The property is located at 520 Ohio Avenue in Long Beach, near Retro Row and the 4th Street Corridor. Surrounding amenities include dining and shopping options, a weekly farmers market, and entertainment venues including the historic Art Theatre. The location also provides access to Los Angeles and Orange County commuting routes. Strong occupancy is identified in the source information, while the property’s unit mix and parking complement its multifamily configuration.
Key Highlights
- 8‑unit apartment building with 5,676 square feet
- Unit mix includes four 1‑bedroom units and four 2‑bedroom units
- All units have been previously 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
$108,545
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
4.19%
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%
$2,170,900
$2.2M
Cap Rate 7%
$1,550,643
$1.6M
Cap Rate 9%
$1,206,056
$1.2M
Market Conditions
NOI Build-Up for 5,676 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
$207.7K $36.60/SF
− Vacancy
−$10.4K −$1.83/SF
EGI
$197.4K $34.77/SF
− OpEx
−$88.8K −$15.65/SF
NOI
$108.5K $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%
$2,170,900
Cap Rate 7%
$1,550,643
Cap Rate 9%
$1,206,056
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,545 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,724 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,202
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 - Remodeled unit mix, community laundry, landscaped frontage, and off-street parking support this established multifamily property.
Where is this apartment building located?
The property is located at 520 Ohio Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: 8‑unit apartment building with 5,676 square feet; Unit mix includes four 1‑bedroom units and four 2‑bedroom units; All units have been previously remodeled
