Four-Unit Apartment Building with
For Sale
$1,449,000
Pending
834 Walnut AVE, Long Beach, CA 90813
Includes a six-bedroom owner unit, three two-bedroom units, shared coin laundry, garages, and driveway parking.
Property Size3,993 SF
Lot Size0.14 Acres
Days on Market115
Property Features for 834 Walnut AVE
General Information
Standard status
Pending
Size
3,993 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 6BR/2BA, 3 x 2BR/1BA
Multifamily Units
4
Amenities
shared laundry room
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Sage Real Estate Group, Inc.
(562) 400-7622
Listed By:
Cody Charnell · License #01950585
(562) 896-3851
Source:
Exitrealty
Added: May 15
Changed: Sep 3
Last Checked: Aug 29 at 8:16PM
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 Sage Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
Located at 834 Walnut AVE, this 1965-built quadplex contains approximately 3,993 square feet of living space on a 6,065 square foot lot. The unit mix includes a six-bedroom, two-bath front apartment with a spacious laundry room, along with three rear units, each configured with two bedrooms and one bathroom. The property also has a shared laundry room with coin-operated machines, five garages, and driveway parking.
The building is positioned eight blocks from the beach and near Downtown Long Beach, 4th Street Retro Row, and Belmont Shore. The existing layout accommodates a range of ownership and leasing approaches, including occupancy of the larger front unit, multigenerational living, and rent-by-the-room use as described in the property information. The source also identifies the asset as suitable for buyers considering ADU development.
The building is positioned eight blocks from the beach and near Downtown Long Beach, 4th Street Retro Row, and Belmont Shore. The existing layout accommodates a range of ownership and leasing approaches, including occupancy of the larger front unit, multigenerational living, and rent-by-the-room use as described in the property information. The source also identifies the asset as suitable for buyers considering ADU development.
Key Highlights
- Four‑unit apartment building built in 1965
- Approximately 3,993 square feet of living space on a 6,065 square foot lot
- Unit mix includes one 6‑bedroom, 2‑bath unit and three 2‑bedroom, 1‑bath units
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
$91,778
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
6.33%
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%
$1,835,560
$1.8M
Cap Rate 7%
$1,311,114
$1.3M
Cap Rate 9%
$1,019,756
$1.0M
Market Conditions
NOI Build-Up for 3,993 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
$136.6K $34.20/SF
− Vacancy
−$5.4K −$1.36/SF
EGI
$131.1K $32.84/SF
− OpEx
−$39.3K −$9.85/SF
NOI
$91.8K $22.98/SF
Area
ZIP 90813
Vacancy
3.99%
Lease Rate
$34.20 /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%
$1,835,560
Cap Rate 7%
$1,311,114
Cap Rate 9%
$1,019,756
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.15M – $1.53M
NOI $91,778 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,577 @ 7.0% cap · market cap 5.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,082
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Includes a six-bedroom owner unit, three two-bedroom units, shared coin laundry, garages, and driveway parking.
Where is this quadplex located?
The property is located at 834 Walnut AVE Long Beach, CA.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Four‑unit apartment building built in 1965; Approximately 3,993 square feet of living space on a 6,065 square foot lot; Unit mix includes one 6‑bedroom, 2‑bath unit and three 2‑bedroom, 1‑bath units
