Long Beach Multifamily Investment
924-934 Termino Avenue Long Beach, CA 90804
924-934 Termino Avenue, Long Beach, CA, 90804
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For Sale
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Well-maintained 8-unit property with upgrades and income potential.
Property Size3,400 SF
Price / SF$645.59
Days on Market70
Property Features for 924-934 Termino Avenue
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1950
Listing Agency
Morgan Skenderian Investment Real Estate Group
Listed by
Ken Morgan · License #01220368
Source
Crexi
Added: May 12 Checked: Jul 19 at 7:58 am
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 Morgan Skenderian Investment Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained 8-unit multifamily property is located in Long Beach. The property consists exclusively of single-story units and features a desirable unit mix. Two of the eight units have been recently renovated with updated flooring and fresh interior paint. Key system upgrades, including copper plumbing, updated electrical systems, and new electrical panels, support operational efficiency and long-term durability. The property also benefits from an on-site laundry facility, two single-car garages, and two double-car garages. A unique highlight is a permitted storage area currently generating supplemental income from existing tenants. This space includes a bathroom and is equipped with plumbing, gas, and electrical, presenting an excellent opportunity for potential ADU conversion (buyer to verify), further increasing revenue potential. The property size is 3400 square feet. Overall, this property combines recent upgrades, strong in-place income, and multiple avenues for future growth, making it an attractive addition to any multifamily portfolio.
Key Highlights
- Potential for ADU conversion of permitted storage area with existing utilities (buyer to verify).
- Supplemental income from permitted storage area.
- Recently renovated units with updated flooring and fresh interior paint.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.4k | $36.60 |
| − Vacancy | −$6.2k | −$1.83 |
| EGI | $118.2k | $34.77 |
| − OpEx | −$53.2k | −$15.65 |
| NOI | $65.0k | $19.12 |
3,400 SF · lease $36.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$928.9K
$812.8K – $1.08M
NOI $65,020 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,424 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit property with upgrades and income potential.
Where is this apartment building located?
The property is located at 924-934 Termino Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Potential for ADU conversion of permitted storage area with existing utilities (buyer to verify).; Supplemental income from permitted storage area.; Recently renovated units with updated flooring and fresh interior paint.
