Residential Income Property with Marina
For Sale
$429,000
6231 E MARINA VIEW Drive 203, Long Beach, CA 90803
Single-level home in a 55-and-older community with a front deck, open kitchen, fireplace, and covered parking.
Property Size1,150 SF
Price / SF$373.04
Days on Market41
Property Features for 6231 E MARINA VIEW Drive 203
General Information
Standard status
Active
Size
1,150 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Additional Details
Multifamily Units
1
Amenities
front wood deck
fireplace
breakfast bar
outside laundry room
storage shed
Listing Agency:
First Team Real Estate
(562) 596-9911
Listed By:
Thomas Schmitz · License #00687123
(562) 596-4661
Source:
Realtyrightchoice
Added: Jul 25
Changed: Aug 31
Last Checked: Sep 2 at 3:56AM
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 First Team Real Estate
Investment Insights
Based on property information with market context.
This residential income property is located at 6231 E Marina View Drive, 203, in Long Beach. The home features expansive front-facing windows, a wood front deck, and direct views toward Bahia Yacht Club boats. Inside, the layout includes a spacious living room with fireplace, an open kitchen with breakfast-bar seating, and an O'Keef & Merritt Signature oven. A separate exterior laundry room includes a washer and dryer.
The property also provides a covered 2-car carport and storage shed. It is situated within a 55-and-older senior resort community, with the front deck offering space for outdoor seating or entertaining. The setting also captures views of California sunsets.
The property also provides a covered 2-car carport and storage shed. It is situated within a 55-and-older senior resort community, with the front deck offering space for outdoor seating or entertaining. The setting also captures views of California sunsets.
Key Highlights
- Front‑facing views of Bahia Yacht Club boats from the home and front deck
- Located in a 55 and older senior resort community
- Front wood deck with space for seating or entertaining
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
$21,992
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
5.13%
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%
$439,840
$439.8K
Cap Rate 7%
$314,171
$314.2K
Cap Rate 9%
$244,356
$244.4K
Market Conditions
NOI Build-Up for 1,150 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
$42.1K $36.60/SF
− Vacancy
−$2.1K −$1.83/SF
EGI
$40.0K $34.77/SF
− OpEx
−$18.0K −$15.65/SF
NOI
$22.0K $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%
$439,840
Cap Rate 7%
$314,171
Cap Rate 9%
$244,356
Alternative Uses
Best Use
Apartment 5plus
$314.2K
$274.9K – $366.5K
NOI $21,992 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.7K
$538.7K – $718.3K
NOI $43,099 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level home in a 55-and-older community with a front deck, open kitchen, fireplace, and covered parking.
Where is this residential income property located?
The property is located at 6231 E MARINA VIEW Drive 203 Long Beach, CA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Front‑facing views of Bahia Yacht Club boats from the home and front deck; Located in a 55 and older senior resort community; Front wood deck with space for seating or entertaining
