8-Unit Apartment
New
For Sale
$2,650,000
973 N Park, Long Beach, CA 90813
The property is near Drake Park, Long Beach City College’s Pacific Coast Campus, and the 710 and 405 freeways.
Property Size6,643 SF
Price / SF$398.92
Days on Market3
Property Features for 973 N Park
General Information
Standard status
Active
Size
6,643 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Recreation Park
Highway Access
Yes
Additional Details
Multifamily Units
8
Amenities
Laminate
1
true
2+ Common Walls
false
2
Common Area
6-10 Units/Acre
Public
9549
8
0.2192
Assessor
6643
Building Details
Building Size
6,643 SF
Year Built
1903
Stories
2
Listing Agency:
Won Suk Kim Real Estate, Inc.
(323) 202-5885
Listed By:
Ixbalanque Garcia · License #02035537
(562) 474-1722
Source:
Lmbenterprises
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:04AM
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 Won Suk Kim Real Estate, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 6,643 square feet and was built in 1903. The site measures 0.2192 acres.
The property is in front of Drake Park in Long Beach, with access to Long Beach City College’s Pacific Coast Campus and the 710 and 405 freeways.
The property is in front of Drake Park in Long Beach, with access to Long Beach City College’s Pacific Coast Campus and the 710 and 405 freeways.
Key Highlights
- 8 apartment units
- 6,643 square feet of building area
- 0.2192‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,708
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,814,160
$2.8M
Cap Rate 7%
$2,010,114
$2.0M
Cap Rate 9%
$1,563,422
$1.6M
Market Conditions
NOI Build-Up for 6,643 SF
Gross rent
$267.0K $40.20/SF
− Vacancy
−$11.2K −$1.69/SF
EGI
$255.8K $38.51/SF
− OpEx
−$115.1K −$17.33/SF
NOI
$140.7K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,814,160
Cap Rate 7%
$2,010,114
Cap Rate 9%
$1,563,422
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $140,708 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.18M
$1.91M – $2.54M
NOI $152,688 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,861
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
Frequently Asked Questions
What type of property is this?
Apartment building - The property is near Drake Park, Long Beach City College’s Pacific Coast Campus, and the 710 and 405 freeways.
Where is this apartment building located?
The property is located at 973 N Park Long Beach, CA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 8 apartment units; 6,643 square feet of building area; 0.2192‑acre site
