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    Turnkey Peninsula Income Property Title is generated by Realmo AI

    83 63rd Place, Long Beach, CA 90803

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    Renovated Long Beach duplex near the bay shoreline.

    Type:Multifamily
    Added:
    Feb 9, 2026
    Days on Market:
    100
    Last Refresh:
    Mar 19 at 9:50 pm

    Property Features for 83 63rd Place

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Brian Wilson

    Listing agent Brian Wilson License #01321478

    Listing office First Team Real Estate

    Listing date Feb 9, 2026

    Source Crexi

    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 First Team Real Estate

    HighLights

    • Turnkey duplex with a 5‑star Airbnb unit, averaging $5k-$6k/month, offering significant income potential.
    • Extensively renovated in 2024/2025 with permitted capital improvements: new roofs, PEX re‑pipe, upgraded electrical, mini‑split HVAC, and tankless water heater.
    • Prime bayside location near the shoreline, yacht club, Belmont Shore, and Naples.
    • Fully renovated units featuring remodeled kitchens and baths, new appliances, flooring, and electric fireplace.
    • Flexible usage: ideal for short‑term rental, long‑term lease, or owner‑occupancy with income.
    • Detached 2‑car garage.

    Overview

    This is a turnkey income property located on the Peninsula, close to the bay shoreline in Long Beach. The property is a fully renovated duplex, featuring a 3-bedroom, 2-bath front residence and a 1-bedroom, 1-bath unit situated above a detached 2-car garage. Zoned as a duplex, the property underwent extensive permitted capital improvements in 2025, including new roofs on both units, a full PEX re-pipe, upgraded electrical panels, mini-split HVAC systems in both units, a new garage door, new washer/dryer units, and a new tankless water heater servicing the rear unit. In 2024, both kitchens and all baths were remodeled, and new appliances including refrigerators, flooring, and an electric fireplace were added. The back unit is currently city-registered and operating as a 5-star Airbnb, averaging approximately $5,000-$6,000 per month. This property is ideal for short-term rental, long-term lease, or an owner-occupant with an income strategy. Its prime bayside location is near waterfront recreation, a yacht club, and the Belmont Shore and Naples lifestyle corridor, ensuring strong rental appeal. Significant system upgrades reduce deferred maintenance and enhance long-term investment stability.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.1217192
    Latitude
    33.7491101

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    FAQs

    What type of property is this?
    Duplex - Renovated Long Beach duplex near the bay shoreline.
    Where is this duplex located?
    The property is located at 83 63rd Place Long Beach, CA.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Turnkey duplex with a 5‑star Airbnb unit, averaging $5k-$6k/month, offering significant income potential.; Extensively renovated in 2024/2025 with permitted capital improvements: new roofs, PEX re‑pipe, upgraded electrical, mini‑split HVAC, and tankless water heater.; Prime bayside location near the shoreline, yacht club, Belmont Shore, and Naples.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Wilson
    Real Estate License ID: 01321478
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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