Three-Unit Residential Income
For Sale
$1,585,000
Pending
764 Terraine Ave, Long Beach, CA 90804
Triplex with three separately addressed units on Terraine Ave, all currently occupied and offers are subject to inspection.
Property Size2,914 SF
Days on Market98
Property Features for 764 Terraine Ave
General Information
Standard status
Pending
Size
2,914 SF
Property subtype
Investment
Site & Location
Neighborhood
Alamitos Heights
Building Details
Building Size
2,914 SF
Year Built
1937
Units
3
Listing Agency:
Keller Williams Coastal Properties
Listed By:
Trevor Cox · License #01935476
(562) 999-2743
Source:
Elliman
Added: Jul 22
Changed: Oct 27
Last Checked: Oct 26 at 4:11PM
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 Keller Williams Coastal Properties
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Investment Insights
Based on property information with market context.
This for-sale triplex is a residential income property with three units, identified by separate addresses: 764, 766, and 770 Terraine Ave. The property is currently fully occupied, and prospective buyers should not disturb occupants. Offers will be considered subject to inspection.
Located in Alamitos Heights in Long Beach, the surrounding area is described as almost exclusively single-family homes. The property also benefits from very walkable and very bikeable conditions, with walkScore of 84 and bikeScore of 70, along with a transitScore of 45.
If you’re looking for an income-producing multi-family asset with established tenancy, this three-unit property provides an opportunity to evaluate the units in person through the inspection process before proceeding further.
Located in Alamitos Heights in Long Beach, the surrounding area is described as almost exclusively single-family homes. The property also benefits from very walkable and very bikeable conditions, with walkScore of 84 and bikeScore of 70, along with a transitScore of 45.
If you’re looking for an income-producing multi-family asset with established tenancy, this three-unit property provides an opportunity to evaluate the units in person through the inspection process before proceeding further.
Key Highlights
- Triplex built in 1937 with three separately addressed units at 764, 766, and 770 Terraine Ave
- All units are currently occupied; please do not disturb occupants
- Offers are subject to inspection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,653
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,060
$1.3M
Cap Rate 7%
$895,043
$895.0K
Cap Rate 9%
$696,144
$696.1K
Market Conditions
NOI Build-Up for 2,914 SF
Gross rent
$94.4K $32.40/SF
− Vacancy
−$4.9K −$1.68/SF
EGI
$89.5K $30.72/SF
− OpEx
−$26.9K −$9.21/SF
NOI
$62.7K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,060
Cap Rate 7%
$895,043
Cap Rate 9%
$696,144
Alternative Uses
Best Use
Multifamily LT 5
$895.0K
$783.2K – $1.04M
NOI $62,653 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$796.1K
$696.6K – $928.8K
NOI $55,726 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,210 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
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Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
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
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three separately addressed units on Terraine Ave, all currently occupied and offers are subject to inspection.
Where is this triplex located?
The property is located at 764 Terraine Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: Triplex built in 1937 with three separately addressed units at 764, 766, and 770 Terraine Ave; All units are currently occupied; please do not disturb occupants; Offers are subject to inspection
