Triplex with Outdoor
For Sale
$899,000
702 CEDAR Ave, Long Beach, CA 90813
MULTI_FAMILY - LONG BEACH, CA
Property Size2,557 SF
Lot Size0.09 Acres
Price / SF$351.58
Days on Market193
Property Features for 702 CEDAR Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LBPD10
Bedrooms
1
Bathrooms
1
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1
Parking
2
Parking features
Assigned
Directions
West on 7th Street to Cedar. Property is on the corner of 7th & Cedar.
Subdivision
Downtown Area, Alamitos Beach
Standard status
Active
APN
7272-020-011
Size
2,557 SF
Lot size
0.09 Acres
Utilities
Cooling system
Wall Unit(s)
Amenities
exclusive-use outdoor patio
recessed lighting
fresh paint
tankless water heater
break room
renovated restroom
hardwood floors
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Listing Agency:
Advantage Real Estate
(310) 450-4488
Listed By:
David Rosenfeld · License #01109090
(310) 261-8692
Added: Jan 29
Changed: Aug 9
Last Checked: Aug 10 at 2:06AM
MLS# 26645179
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 702 Cedar Ave in the Willmore Historical District of Long Beach’s Alamitos Beach area, this triplex-style multi-unit property includes three distinct spaces totaling 2,557 square feet on a 0.0861-acre lot. Built in 1920, the property features wall-unit cooling and assigned parking.
The primary standalone commercial unit (702) has an expansive open floor plan and an exclusive-use outdoor patio, with recent upgrades including new recessed lighting, fresh paint, a tankless water heater, a break room, and a renovated restroom. The second commercial space (712) provides prominent street-level frontage with an open layout for retail or service use. The spacious second-floor residential unit (714) includes hardwood floors.
The two commercial units (702 and 712) are occupied by the same tenant.
The primary standalone commercial unit (702) has an expansive open floor plan and an exclusive-use outdoor patio, with recent upgrades including new recessed lighting, fresh paint, a tankless water heater, a break room, and a renovated restroom. The second commercial space (712) provides prominent street-level frontage with an open layout for retail or service use. The spacious second-floor residential unit (714) includes hardwood floors.
The two commercial units (702 and 712) are occupied by the same tenant.
Key Highlights
- 0.0861‑acre lot with 2,557 square feet in a triplex‑style, multi‑unit setup
- Exclusive‑use outdoor patio attached to commercial unit 702 with expansive open layout
- Commercial unit 712 offers prominent street‑level frontage with an open layout
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
$58,772
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
6.54%
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%
$1,175,440
$1.2M
Cap Rate 7%
$839,600
$839.6K
Cap Rate 9%
$653,022
$653.0K
Market Conditions
NOI Build-Up for 2,557 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
$87.4K $34.20/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$84.0K $32.84/SF
− OpEx
−$25.2K −$9.85/SF
NOI
$58.8K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /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%
$1,175,440
Cap Rate 7%
$839,600
Cap Rate 9%
$653,022
Alternative Uses
Best Use
Multifamily LT 5
$839.6K
$734.7K – $979.5K
NOI $58,772 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$773.7K
$677.0K – $902.7K
NOI $54,161 @ 7.0% cap · market cap 6.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
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?
Triplex - Triplex in Willmore Historical District zoned LBPD10, with exclusive-use outdoor patio and street-level commercial frontage.
Where is this triplex located?
The property is located at 702 CEDAR Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 0.0861‑acre lot with 2,557 square feet in a triplex‑style, multi‑unit setup; Exclusive‑use outdoor patio attached to commercial unit 702 with expansive open layout; Commercial unit 712 offers prominent street‑level frontage with an open layout
