34-Unit Apartment
For Sale
$16,125,000
8071 Garfield, Huntington Beach, CA 92646
Split-level apartment property with separately metered utilities, garage parking, and washer-dryer hookups in every unit.
Property Size39,028 SF
Days on Market10
Property Features for 8071 Garfield
General Information
Standard status
Active
Size
39,028 SF
Total Parking Spaces
69
Property subtype
Apartment
Units
Unit Mix
15 x 1BR/1.5BA, 17 x 2BR/2.5BA, 2 x 3BR/2.5BA
Multifamily Units
34
Additional Details
Utilities to Site
Yes
Amenities
stackable washer/dryer hookups
Building Details
Building Size
39,028 SF
Year Built
1988
Buildings
2
Listing Agency:
American Realty Services
Listed By:
Robert Ludwick · License #02246048
Source:
Altamirarealty
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 22 at 10:04PM
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 American Realty Services
Investment Insights
Based on property information with market context.
Built in 1988, this split-level apartment complex contains 34 units across two buildings. Building 8071 has 16 units, including seven one-bedroom, eight two-bedroom, and one three-bedroom residences. Building 8081 has 18 units, comprising eight one-bedroom, nine two-bedroom, and one three-bedroom residences. One-bedroom units have one and a half baths, while the two- and three-bedroom units each include two and a half baths.
Gas and electric service are separately metered for each residence, with water paid by the owner. Every unit includes hookups for a stackable washer and dryer. The property also provides 44 garages—21 at 8071 and 23 at 8081—along with 25 uncovered parking spaces. The complex is located off Beach and Garfield in Huntington Beach.
Gas and electric service are separately metered for each residence, with water paid by the owner. Every unit includes hookups for a stackable washer and dryer. The property also provides 44 garages—21 at 8071 and 23 at 8081—along with 25 uncovered parking spaces. The complex is located off Beach and Garfield in Huntington Beach.
Key Highlights
- 34 units divided between two buildings: 16 units at 8071 and 18 units at 8081
- Unit mix includes 15 one‑bedrooms, 17 two‑bedrooms, and 2 three‑bedrooms
- Each residence has separately metered gas and electric service; owner pays for water
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
$841,336
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
5.22%
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%
$16,826,720
$16.8M
Cap Rate 7%
$12,019,086
$12.0M
Cap Rate 9%
$9,348,178
$9.3M
Market Conditions
NOI Build-Up for 39,028 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
$1.57M $40.20/SF
− Vacancy
−$39.2K −$1.01/SF
EGI
$1.53M $39.20/SF
− OpEx
−$688.4K −$17.64/SF
NOI
$841.3K $21.56/SF
Area
Huntington Beach, CA
Vacancy
2.50%
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%
$16,826,720
Cap Rate 7%
$12,019,086
Cap Rate 9%
$9,348,178
Alternative Uses
Best Use
Apartment 5plus
$12.02M
$10.52M – $14.02M
NOI $841,336 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.49M
$11.80M – $15.74M
NOI $944,165 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
34
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 92646, CA
56,788
Population
22,195
Households
2.6
Avg Household Size
46
Median Age
50%
College-Educated
95%
High-School Grad
8.1 sq mi
ZIP Area
7,011
Density / Sq Mi
$132,841
Median Household Income
$67,959
Median Earnings
$2,570
Median Rent
$1,031,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Split-level apartment property with separately metered utilities, garage parking, and washer-dryer hookups in every unit.
Where is this apartment building located?
The property is located at 8071 Garfield Huntington Beach, CA.
What is the asking price?
The asking price for this property is $16,125,000.
What are key features of this property?
This property features: 34 units divided between two buildings: 16 units at 8071 and 18 units at 8081; Unit mix includes 15 one‑bedrooms, 17 two‑bedrooms, and 2 three‑bedrooms; Each residence has separately metered gas and electric service; owner pays for water
