Spanish-Style Triplex with Rooftop
New
For Sale
$1,900,000
815 Roswell Ave, Long Beach, CA 90804
Three-unit property with upgraded electrical panels and a landscaped shared courtyard.
Property Size4,432 SF
Days on Market2
Property Features for 815 Roswell Ave
General Information
Standard status
Active
Size
4,432 SF
Property subtype
Investment
Building Details
Building Size
4,432 SF
Year Built
1931
Units
3
Listing Agency:
Marcus & Millichap RE Invest
Listed By:
Tyler Leeson · License #01451551
(949) 419-3326
Source:
Elliman
Added: Sep 15
Last Checked: Sep 16 at 6:04PM
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 Marcus & Millichap RE Invest
Investment Insights
Based on property information with market context.
This 1931 Spanish-style triplex includes two front units and a larger rear residence created by combining two former two-bedroom townhomes. The rear home now offers four bedrooms and access to a private rooftop deck with a built-in BBQ. Tile roofing with flat composition sections was replaced approximately 2 years ago, and electrical panels have been upgraded in the front units and rear residence.
Residents share a landscaped courtyard with 807 Roswell Avenue, featuring a built-in fountain and mature plantings. The property is approximately 1 block from Wilson High School and near Recreation Park, with Belmont Shore, the 2nd Street commercial corridor, California State University, Long Beach, and Retro Row within a short drive. Walk Score is 93, BikeScore is 67, and Transit Score is 46.
Residents share a landscaped courtyard with 807 Roswell Avenue, featuring a built-in fountain and mature plantings. The property is approximately 1 block from Wilson High School and near Recreation Park, with Belmont Shore, the 2nd Street commercial corridor, California State University, Long Beach, and Retro Row within a short drive. Walk Score is 93, BikeScore is 67, and Transit Score is 46.
Key Highlights
- Three‑unit multifamily property built in 1931
- Rear four‑bedroom residence created by combining two former two‑bedroom townhomes
- Private rooftop deck with built‑in BBQ
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
$95,291
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
5.02%
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%
$1,905,820
$1.9M
Cap Rate 7%
$1,361,300
$1.4M
Cap Rate 9%
$1,058,789
$1.1M
Market Conditions
NOI Build-Up for 4,432 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
$143.6K $32.40/SF
− Vacancy
−$7.5K −$1.68/SF
EGI
$136.1K $30.72/SF
− OpEx
−$40.8K −$9.21/SF
NOI
$95.3K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /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%
$1,905,820
Cap Rate 7%
$1,361,300
Cap Rate 9%
$1,058,789
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,291 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,755 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,101 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three-unit property with upgraded electrical panels and a landscaped shared courtyard.
Where is this triplex located?
The property is located at 815 Roswell Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1931; Rear four‑bedroom residence created by combining two former two‑bedroom townhomes; Private rooftop deck with built‑in BBQ
