9-Unit Apartment
For Sale
$2,275,000
6626 Orizaba Ave, Long Beach, CA 90805
Two adjoining parcels offer varied unit layouts, on-site parking, and renovation flexibility in North Long Beach.
Property Size4,213 SF
Lot Size0.25 Acres
Price / SF$539
Days on Market14
Property Features for 6626 Orizaba Ave
General Information
Standard status
Active
Size
4,213 SF
Lot size
0.25 Acres
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
One unit needs a remodel
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2-1, 1 x 1-1, 1 x hybrid 1-1/S, 3 x studio
Multifamily Units
9
Amenities
coin laundry
Building Details
Buildings
2
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Jeanine Davidson · License #01980323
(949) 374-3725
Source:
Exprealty
Added: Sep 2
Changed: Sep 13
Last Checked: Sep 14 at 10:12AM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
The package at 6626 and 6620 Orizaba Ave combines 9 units across two continuous parcels, with approximately 10,800 SF of combined lot area and 4,213 SF of building area. The 6626 parcel contains a 2-story, 4-unit building constructed in 1964, with four 2-bedroom, 1-bath units, two vacancies, recent window upgrades in both vacant units, updated piping, a detached 2-car garage, and on-site parking. The 6620 parcel includes a permitted addition to a single-story, 5-unit building constructed in 1950. Its unit mix includes one 1-bedroom, 1-bath unit, one 1-bedroom/studio hybrid, and three studios, including two micro-studios. Improvements include updated piping, electrical upgrades in two units, a newer roof, drought-resistant landscaping, and on-site parking.
The property is positioned near the 91 and 710 freeways, local transit, and major Los Angeles employment hubs. The two-parcel configuration also includes vacant units suitable for renovation and a detached garage with ADU conversion potential.
The property is positioned near the 91 and 710 freeways, local transit, and major Los Angeles employment hubs. The two-parcel configuration also includes vacant units suitable for renovation and a detached garage with ADU conversion potential.
Key Highlights
- 9 units across 2 continuous parcels with approximately 10,800 SF of combined lot area
- 6626 Orizaba includes a 2‑story, 4‑unit building with 2 vacant units
- 6620 Orizaba includes a single‑story, 5‑unit building with studios and 1‑bedroom layouts
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
$70,370
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
3.09%
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%
$1,407,400
$1.4M
Cap Rate 7%
$1,005,286
$1.0M
Cap Rate 9%
$781,889
$781.9K
Market Conditions
NOI Build-Up for 4,213 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
$134.0K $31.80/SF
− Vacancy
−$6.0K −$1.43/SF
EGI
$127.9K $30.37/SF
− OpEx
−$57.6K −$13.67/SF
NOI
$70.4K $16.70/SF
Area
ZIP 90805
Vacancy
4.50%
Lease Rate
$31.80 /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%
$1,407,400
Cap Rate 7%
$1,005,286
Cap Rate 9%
$781,889
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$879.6K – $1.17M
NOI $70,370 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,331 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
747
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjoining parcels offer varied unit layouts, on-site parking, and renovation flexibility in North Long Beach.
Where is this apartment building located?
The property is located at 6626 Orizaba Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: 9 units across 2 continuous parcels with approximately 10,800 SF of combined lot area; 6626 Orizaba includes a 2‑story, 4‑unit building with 2 vacant units; 6620 Orizaba includes a single‑story, 5‑unit building with studios and 1‑bedroom layouts
