Long Beach Multifamily Investment
For Sale
Contact for pricing
Pending
924-934 Termino Avenue, Long Beach, CA 90804
Well-maintained 8-unit property with upgrades and income potential.
Property Size3,400 SF
Days on Market117
Property Features for 924-934 Termino Avenue
General Information
Standard status
Pending
Size
3,400 SF
Total Parking Spaces
4
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1950
Units
6
Tenancy
Multi
Listing Agency:
Morgan Skenderian Investment Real Estate Group
Listed By:
Rick Applebaum · License #CA 01273871
Source:
Crexi
Added: May 12
Changed: Sep 1
Last Checked: Sep 1 at 4:53PM
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.
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
$65,020
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
2.96%
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%
$1,300,400
$1.3M
Cap Rate 7%
$928,857
$928.9K
Cap Rate 9%
$722,444
$722.4K
Market Conditions
NOI Build-Up for 3,400 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
$124.4K $36.60/SF
− Vacancy
−$6.2K −$1.83/SF
EGI
$118.2K $34.77/SF
− OpEx
−$53.2K −$15.65/SF
NOI
$65.0K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /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%
$1,300,400
Cap Rate 7%
$928,857
Cap Rate 9%
$722,444
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 authorities.
Property Analytics
Property Profile
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
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 - 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.
