Triplex with Separate Utility
For Sale
$1,600,000
764 Terraine Avenue, Long Beach, CA 90804
Long Beach, CA
Property Size2,914 SF
Lot Size0.15 Acres
Price / SF$549.07
Days on Market32
Property Features for 764 Terraine Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Laundry Room, Kitchen, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
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
APN
7241024013
Size
2,914 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), 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, Laminate, Carpet
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: Aug 20
Last Checked: Aug 20 at 11:06PM
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.
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 = 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
$62,653
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
3.92%
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%
$1,253,060
$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
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
$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 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%
$1,253,060
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 3.92%
Second Best
Apartment 5plus
$796.1K
$696.6K – $928.8K
NOI $55,726 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,210 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - 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 $1,600,000.
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
