8-Unit Apartment
For Sale
$1,400,000
Pending
815 E 9th St, Long Beach, CA 90813
Eight residential units feature one-bedroom, one-bath layouts in a central Long Beach setting.
Property Size3,533 SF
Days on Market104
Property Features for 815 E 9th St
General Information
Standard status
Pending
Size
3,533 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Building Details
Building Size
3,533 SF
Year Built
1953
Buildings
1
Listing Agency:
RJ Real Estate Investments, Inc
(213) 787-4397
Listed By:
Roy Yoo
(213) 787-4397
Source:
Nolanrossre.kw
Added: May 20
Changed: Aug 28
Last Checked: Aug 30 at 1:23PM
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 RJ Real Estate Investments, Inc
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains an all one-bedroom, one-bathroom unit mix within a compact residential property. Constructed in 1953, the asset offers a straightforward configuration of similarly sized apartments for consistent management across the building.
The property is located at 815 E 9th St in Long Beach, within the Downtown Long Beach and East Village Arts District submarket. Its setting provides access to the waterfront, dining, retail, and major transportation corridors. The address places the building within an urban rental environment near established commercial and recreational destinations.
The property is located at 815 E 9th St in Long Beach, within the Downtown Long Beach and East Village Arts District submarket. Its setting provides access to the waterfront, dining, retail, and major transportation corridors. The address places the building within an urban rental environment near established commercial and recreational destinations.
Key Highlights
- 8‑unit apartment building
- All units are 1 bedroom and 1 bathroom
- Built in 1953
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
$74,834
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
5.35%
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%
$1,496,680
$1.5M
Cap Rate 7%
$1,069,057
$1.1M
Cap Rate 9%
$831,489
$831.5K
Market Conditions
NOI Build-Up for 3,533 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
$142.0K $40.20/SF
− Vacancy
−$6.0K −$1.69/SF
EGI
$136.1K $38.51/SF
− OpEx
−$61.2K −$17.33/SF
NOI
$74.8K $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%
$1,496,680
Cap Rate 7%
$1,069,057
Cap Rate 9%
$831,489
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.4K – $1.25M
NOI $74,834 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.16M
$1.02M – $1.35M
NOI $81,205 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,845
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?
Apartment building - Eight residential units feature one-bedroom, one-bath layouts in a central Long Beach setting.
Where is this apartment building located?
The property is located at 815 E 9th St Long Beach, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8‑unit apartment building; All units are 1 bedroom and 1 bathroom; Built in 1953
