Two-Home Income
For Sale
$995,000
6160 Gundry, Long Beach, CA 90805
Two permitted homes on one lot generate immediate rental income, including a newer rear ADU.
Property Size1,977 SF
Days on Market66
Property Features for 6160 Gundry
General Information
Standard status
Active
Size
1,977 SF
Property subtype
Investment
Building Details
Building Size
1,977 SF
Year Built
1941
Stories
1
Units
2
Listed By:
Tom Swanner
Source:
Elliman
Added: Jul 3
Changed: Aug 25
Last Checked: Sep 6 at 8:02AM
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 Tom Swanner
Investment Insights
Based on property information with market context.
This income-generating property features two permitted homes on a single lot, currently producing immediate rental income. The newer rear ADU was built in 2019 and offers a spacious 3-bedroom, 1.75-bathroom layout with HVAC, tile floors, and tankless water heating. The kitchen and bathrooms feature updated finishes, and the home includes vinyl dual pane windows and copper piping throughout.
The front home was built in 1941 and includes a permitted 2-bedroom, 1-bathroom configuration with a private entrance. It has separate utilities, a remodeled detached layout, and tankless water heating, along with vinyl dual pane windows and copper piping. The interior includes hardwood floors in the living room and bedrooms, and tile floors in the kitchen and bath.
Both residences have separate sheds and vinyl fencing, contributing to a lower-maintenance setup. The property is described as conveniently located near local amenities with access to the 91 and 710 freeways and mass transit.
The front home was built in 1941 and includes a permitted 2-bedroom, 1-bathroom configuration with a private entrance. It has separate utilities, a remodeled detached layout, and tankless water heating, along with vinyl dual pane windows and copper piping. The interior includes hardwood floors in the living room and bedrooms, and tile floors in the kitchen and bath.
Both residences have separate sheds and vinyl fencing, contributing to a lower-maintenance setup. The property is described as conveniently located near local amenities with access to the 91 and 710 freeways and mass transit.
Key Highlights
- Two permitted homes on one lot with immediate rental income of $5,050/mo (tenant rents $2,850/mo and $2,200/mo).
- Newer rear ADU built in 2019 with approx. 1,200 SF, 3 bedrooms and 1.75 bathrooms; includes HVAC and tile floors.
- ADU includes vinyl dual pane windows, copper piping, and a tankless water heater; kitchen and bath counters listed as composite or possible granite.
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
$35,770
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
3.59%
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%
$715,400
$715.4K
Cap Rate 7%
$511,000
$511.0K
Cap Rate 9%
$397,444
$397.4K
Market Conditions
NOI Build-Up for 1,977 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
$53.4K $27.00/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$51.1K $25.85/SF
− OpEx
−$15.3K −$7.75/SF
NOI
$35.8K $18.09/SF
Area
ZIP 90805
Vacancy
4.27%
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%
$715,400
Cap Rate 7%
$511,000
Cap Rate 9%
$397,444
Alternative Uses
Best Use
Multifamily LT 5
$511.0K
$447.1K – $596.2K
NOI $35,770 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$471.7K
$412.8K – $550.4K
NOI $33,022 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$592.2K
$518.1K – $690.9K
NOI $41,451 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 90805, CA
95,350
Population
28,954
Households
3.3
Avg Household Size
34
Median Age
18%
College-Educated
74%
High-School Grad
7.4 sq mi
ZIP Area
12,885
Density / Sq Mi
$68,615
Median Household Income
$34,948
Median Earnings
$1,664
Median Rent
$588,500
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?
Duplex - Two permitted homes on one lot generate immediate rental income, including a newer rear ADU.
Where is this duplex located?
The property is located at 6160 Gundry Long Beach, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two permitted homes on one lot with immediate rental income of $5,050/mo (tenant rents $2,850/mo and $2,200/mo).; Newer rear ADU built in 2019 with approx. 1,200 SF, 3 bedrooms and 1.75 bathrooms; includes HVAC and tile floors.; ADU includes vinyl dual pane windows, copper piping, and a tankless water heater; kitchen and bath counters listed as composite or possible granite.
