Seven-Unit Apartment
For Sale
$1,995,000
810 Belmont Avenue, Long Beach, CA 90804
Two woodframe, stucco buildings offer six residential units plus a studio, with shared landscaped outdoor space.
Property Size5,554 SF
Lot Size0.13 Acres
Price / SF$359.20
Days on Market129
Property Features for 810 Belmont Avenue
General Information
Standard status
Active
Size
5,554 SF
Total Parking Spaces
2
Lot size
0.13 Acres
Property subtype
Apartment
Additional Details
Road Access
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$22,215
Building Details
Building Size
5,554 SF
Year Built
1948
Stories
2
Listing Agency:
Carl Reinhart, Broker
Listed By:
Carl Reinhart · License #00647355
(714) 404-8020
Source:
Velocityrealtysd
Added: Apr 30
Changed: Aug 28
Last Checked: Sep 4 at 10:09AM
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 Carl Reinhart, Broker
Investment Insights
Based on property information with market context.
The property is a seven-unit apartment complex consisting of two two-story woodframe and stucco buildings. Built in 1948, the buildings have undergone renovations on multiple occasions. The front building contains four two-bedroom, one-bath units, while the rear building includes one studio, one one-bedroom, one one-bedroom/one-bath unit, and one three-bedroom/two-bath unit. Outdoor amenities include a landscaped yard at the front of the property and a shared landscaped yard between the two buildings, along with a two-car garage served by a rear alley. Washer and dryer are available in the rear building and are coin-operated, with the service provided by an outside provider.
The complex is situated on a level, rectangular parcel that fronts Belmont Avenue. Belmont Avenue is described as a quiet, well-landscaped street with a mix of single-family homes and small apartment buildings. The area is characterized by long-term residents, families, and young professionals.
Woodrow Wilson High School is approximately three blocks east, with additional nearby recreational and activity destinations including a city-owned recreation park one-quarter mile east and Belmont Shore about one mile south.
The complex is situated on a level, rectangular parcel that fronts Belmont Avenue. Belmont Avenue is described as a quiet, well-landscaped street with a mix of single-family homes and small apartment buildings. The area is characterized by long-term residents, families, and young professionals.
Woodrow Wilson High School is approximately three blocks east, with additional nearby recreational and activity destinations including a city-owned recreation park one-quarter mile east and Belmont Shore about one mile south.
Key Highlights
- Seven‑unit apartment complex with two woodframe and stucco buildings built in 1948
- Total 5,554 SF across two apartment buildings on a level, rectangular 5,852 SF parcel fronting on Belmont Avenue
- Unit mix: front building has four 2 bed/1 bath units; rear building has one studio, one 1 bed/1 bath, and one 3 bed/2 bath
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
$106,212
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
5.32%
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%
$2,124,240
$2.1M
Cap Rate 7%
$1,517,314
$1.5M
Cap Rate 9%
$1,180,133
$1.2M
Market Conditions
NOI Build-Up for 5,554 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
$203.3K $36.60/SF
− Vacancy
−$10.2K −$1.83/SF
EGI
$193.1K $34.77/SF
− OpEx
−$86.9K −$15.65/SF
NOI
$106.2K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /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%
$2,124,240
Cap Rate 7%
$1,517,314
Cap Rate 9%
$1,180,133
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,212 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,151 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,249
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?
Apartment building - Two woodframe, stucco buildings offer six residential units plus a studio, with shared landscaped outdoor space.
Where is this apartment building located?
The property is located at 810 Belmont Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Seven‑unit apartment complex with two woodframe and stucco buildings built in 1948; Total 5,554 SF across two apartment buildings on a level, rectangular 5,852 SF parcel fronting on Belmont Avenue; Unit mix: front building has four 2 bed/1 bath units; rear building has one studio, one 1 bed/1 bath, and one 3 bed/2 bath
