Long Beach Multifamily Investment
For Sale
Contact for pricing
Pending
1836 E 1st St, Long Beach, CA 90802
16-unit apartment building near the beach with assumable financing.
Property Size7,676 SF
Days on Market702
Property Features for 1836 E 1st St
General Information
Standard status
Pending
Size
7,676 SF
Property subtype
Multifamily
Net Operating Income
$189,076
Building Details
Year Built
1923
Units
16
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 463-2916
Source:
Crexi
Added: Oct 3, 2024
Changed: Sep 3
Last Checked: Sep 2 at 9:28AM
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 Stepp Commercial
Investment Insights
Based on property information with market context.
The property at 1836 E. 1st Street is a 16-unit apartment building located in the Bixby Park area of Long Beach. The controlled access building contains eleven studio apartments, two one-bedroom, one-bathroom apartments, and three two-bedroom, one-bathroom apartments. Most of the units have been renovated and include in-unit washer and dryers. One of the sixteen units is a non-conforming studio that is currently in the process of being permitted. Building improvements include new electrical and gas lines. On-site laundry facilities provide income. The property is located two blocks from the beach and in close proximity to coastal amenities. The building size is 7,676 square feet. Assumable financing is available at 3.59% until April 1, 2027.
Key Highlights
- Assumable financing at 3.59% until April 1, 2027.
- Prime Bixby Park location, just two blocks from the beach!**
- Most units renovated with in‑unit washer/dryers.
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
$146,792
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
3.54%
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%
$2,935,840
$2.9M
Cap Rate 7%
$2,097,029
$2.1M
Cap Rate 9%
$1,631,022
$1.6M
Market Conditions
NOI Build-Up for 7,676 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
$280.9K $36.60/SF
− Vacancy
−$14.0K −$1.83/SF
EGI
$266.9K $34.77/SF
− OpEx
−$120.1K −$15.65/SF
NOI
$146.8K $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%
$2,935,840
Cap Rate 7%
$2,097,029
Cap Rate 9%
$1,631,022
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.83M – $2.45M
NOI $146,792 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.79M
NOI $287,679 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
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 - 16-unit apartment building near the beach with assumable financing.
Where is this apartment building located?
The property is located at 1836 E 1st St Long Beach, CA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: Assumable financing at 3.59% until April 1, 2027.; Prime Bixby Park location, just two blocks from the beach!**; Most units renovated with in‑unit washer/dryers.
