Long Beach Multifamily Investment
For Sale
Contact for pricing
753 Cerritos Avenue, Long Beach, CA 90813
Well-maintained multifamily property near Downtown Long Beach development.
Property Size6,938 SF
Price / SF$417.99
Days on Market148
Property Features for 753 Cerritos Avenue
General Information
Standard status
Active
Size
6,938 SF
Class
B
Total Parking Spaces
18
Property subtype
Multifamily
Zoning
LBR2N
Occupancy
90%
Investment Type
Core
Net Operating Income
$190,504
Building Details
Year Built
1987
Buildings
1
Stories
3
Units
10
Listing Agency:
Lyon Stahl Investment Real Estate
(310) 259-7556
Listed By:
Cameron Samimi · License #CA 02035763
Source:
Crexi
Added: Mar 16
Changed: Aug 7
Last Checked: Aug 10 at 10:21AM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
This multifamily property, constructed in the 1980s, presents an investment opportunity with a current 6.24% CAP Rate and an 11.04 GRM. The property consists of eight 2-bedroom, 2-bathroom units and two 1-bedroom, 1-bathroom units. One of the 2-bedroom, 2-bathroom units is currently vacant. Several units have been renovated with new floors, cabinets, appliances, bathrooms, and fixtures. On-site amenities include tuck-under parking and a laundry room. The property is located near Downtown Long Beach, an area experiencing approximately $6 billion in development, including projects such as the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, and Queen Mary Island. The property size is 6938 square feet.
Key Highlights
- Strong Cash Flow: Current 6.24% CAP Rate and 11.04 GRM.
- Priced at $295k/unit.
- Well‑maintained asset built in 1987.
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
$146,956
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
5.07%
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%
$2,939,120
$2.9M
Cap Rate 7%
$2,099,371
$2.1M
Cap Rate 9%
$1,632,844
$1.6M
Market Conditions
NOI Build-Up for 6,938 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
$278.9K $40.20/SF
− Vacancy
−$11.7K −$1.69/SF
EGI
$267.2K $38.51/SF
− OpEx
−$120.2K −$17.33/SF
NOI
$147.0K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /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%
$2,939,120
Cap Rate 7%
$2,099,371
Cap Rate 9%
$1,632,844
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $146,956 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.28M
$1.99M – $2.66M
NOI $159,469 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,671
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?
Apartment building - Well-maintained multifamily property near Downtown Long Beach development.
Where is this apartment building located?
The property is located at 753 Cerritos Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Strong Cash Flow: Current 6.24% CAP Rate and 11.04 GRM.; Priced at $295k/unit.; Well‑maintained asset built in 1987.
