Four-Unit Quadplex Near Ocean
New
For Sale
$1,599,000
775 Alamitos Avenue, Long Beach, CA 90813
Income property with four two-bedroom residences and current transitional-housing use.
Property Size3,376 SF
Days on Market5
Property Features for 775 Alamitos Avenue
General Information
Standard status
Active
Size
3,376 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
3,376 SF
Year Built
1923
Stories
2
Listing Agency:
Peggy French, Broker
Listed By:
Peggy French · License #00455781
(714) 585-6703
Source:
Nolanrossre.kw
Added: Sep 22
Last Checked: Sep 26 at 3:38AM
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 Peggy French, Broker
Investment Insights
Based on property information with market context.
This 1923-built quadplex at 775 Alamitos Avenue contains four separate units, each configured with two bedrooms and one bathroom. The property is currently operated as transitional housing, providing an established use across the four residences.
The building is positioned eight blocks from Ocean Boulevard, with the ocean approximately a three-minute drive away. An additional four-unit property at 801 Alamitos Avenue is also offered for sale, creating a potential adjacent acquisition opportunity for buyers evaluating both offerings.
The building is positioned eight blocks from Ocean Boulevard, with the ocean approximately a three-minute drive away. An additional four-unit property at 801 Alamitos Avenue is also offered for sale, creating a potential adjacent acquisition opportunity for buyers evaluating both offerings.
Key Highlights
- Four‑unit quadplex built in 1923
- Each unit includes 2 bedrooms and 1 bathroom
- Currently rented as transitional housing
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
$77,597
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
4.85%
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%
$1,551,940
$1.6M
Cap Rate 7%
$1,108,529
$1.1M
Cap Rate 9%
$862,189
$862.2K
Market Conditions
NOI Build-Up for 3,376 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
$115.5K $34.20/SF
− Vacancy
−$4.6K −$1.36/SF
EGI
$110.9K $32.84/SF
− OpEx
−$33.3K −$9.85/SF
NOI
$77.6K $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%
$1,551,940
Cap Rate 7%
$1,108,529
Cap Rate 9%
$862,189
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$970.0K – $1.29M
NOI $77,597 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$1.02M
$893.9K – $1.19M
NOI $71,508 @ 7.0% cap · market cap 4.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,739
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?
Quadplex - Income property with four two-bedroom residences and current transitional-housing use.
Where is this quadplex located?
The property is located at 775 Alamitos Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1923; Each unit includes 2 bedrooms and 1 bathroom; Currently rented as transitional housing
