Multifamily Property with
New
For Sale
$1,599,000
801 Alamitos Avenue, Long Beach, CA 90813
Currently operated as transitional housing, with two-bedroom residences and enclosed garages.
Property Size3,508 SF
Days on Market5
Property Features for 801 Alamitos Avenue
General Information
Standard status
Active
Size
3,508 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
LBR4N
Net Operating Income
$114,000
Property Condition
Severity
Repairs Needed
Evidence
PROPERTY MAY NEED SOME TLC.
Additional Details
Business Included
Yes
Amenities
enclosed garage
tankless hot water heaters
Curbs, Street Lights, Sidewalks
Natural Gas, Wall Furnace
Free-Standing Range, Gas Range, Refrigerator, Water Heater
Block
Driveway, Garage, Off Street, Paved
Building Details
Building Size
3,508 SF
Year Built
1923
Buildings
1
Stories
2
Listing Agency:
Peggy French, Broker
Listed By:
Peggy French · License #00455781
(714) 585-6703
Source:
Evrealestate
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 26 at 11:06AM
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.
Built in 1923, this multifamily property is currently used for transitional housing. Each residence has two bedrooms, one bathroom, and an enclosed garage. Two tankless water heaters were recently installed.
The property is approximately a three-minute drive from the ocean.
The property is approximately a three-minute drive from the ocean.
Key Highlights
- Each unit has 2 bedrooms, 1 bathroom, and an enclosed garage
- Currently used as transitional housing
- Two tankless water heaters recently installed
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
$74,304
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
4.65%
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%
$1,486,080
$1.5M
Cap Rate 7%
$1,061,486
$1.1M
Cap Rate 9%
$825,600
$825.6K
Market Conditions
NOI Build-Up for 3,508 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
$141.0K $40.20/SF
− Vacancy
−$5.9K −$1.69/SF
EGI
$135.1K $38.51/SF
− OpEx
−$60.8K −$17.33/SF
NOI
$74.3K $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%
$1,486,080
Cap Rate 7%
$1,061,486
Cap Rate 9%
$825,600
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$928.8K – $1.24M
NOI $74,304 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,631 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Currently operated as transitional housing, with two-bedroom residences and enclosed garages.
Where is this multifamily property located?
The property is located at 801 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: Each unit has 2 bedrooms, 1 bathroom, and an enclosed garage; Currently used as transitional housing; Two tankless water heaters recently installed
