Triplex with Separate Utility
For Sale
Under Contract
$1,585,000
764 Terraine Avenue, Long Beach, CA 90804
Long Beach, CA
Property Size2,914 SF
Lot Size0.15 Acres
Price / SF$543.93
Days on Market99
Property Features for 764 Terraine Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Kitchen, Bathroom 3, Bedroom 4, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
Parking
4
Parking features
Garage
Interior features
Balcony, Built-in Features
Fireplace
1
Subdivision
Alamitos Heights (AH)
Lot features
Front Yard, Lawn
Elementary school district
Long Beach Unified
Middle school district
Long Beach Unified
High school district
Long Beach Unified
Directions
Located on Terraine Ave between E 7th and 8th St
Standard status
Active Under Contract
APN
7241024013
Size
2,914 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
in-unit laundry
shared backyard
private patio
Building Details
Year built
1937
Floors in Building
2
Number of units
3
Flooring type
Tile, Carpet, Laminate
Listing Agency:
Keller Williams Coastal Prop. · Keller Williams Realty
(562) 961-1400
Listed By:
Trevor Cox · License #01935476
(949) 742-0408
Added: Jul 20
Changed: Oct 22
Last Checked: Oct 26 at 12:06PM
MLS# PW26160198
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,914-square-foot triplex contains two upper and lower residences with two bedrooms and one bathroom each, plus a separate upper-level one-bedroom, one-bathroom unit. The two larger residences include in-unit laundry. Gas and electric service are separately metered for each residence, and the property also provides a shared backyard and private patio space. Interior features include balconies and built-in elements, with tile, carpet, and laminate flooring. Heating is central, while cooling is provided by wall or window units.
Located in Long Beach’s Alamitos Heights area, the property includes addresses at 764, 766, and 770 Terraine Avenue. All three residences are occupied. The 1937-built property has a 0.1495-acre lot, garage parking, public water, and public sewer.
Located in Long Beach’s Alamitos Heights area, the property includes addresses at 764, 766, and 770 Terraine Avenue. All three residences are occupied. The 1937-built property has a 0.1495-acre lot, garage parking, public water, and public sewer.
Key Highlights
- 2,914 square feet across a three‑residence triplex
- Unit mix includes two 2‑bedroom/1‑bath residences and one 1‑bedroom/1‑bath residence
- Gas and electric utilities are separately metered for all three residences
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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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
Explore this area
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 - Three occupied residences offer in-unit laundry, shared outdoor space, and a private patio area.
Where is this triplex located?
The property is located at 764 Terraine Avenue 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: 2,914 square feet across a three‑residence triplex; Unit mix includes two 2‑bedroom/1‑bath residences and one 1‑bedroom/1‑bath residence; Gas and electric utilities are separately metered for all three residences
