Broker Opinion of Value · May 2026
Live read of Long Beach · Built bottom-up by Taylor Avakian

900-904 Alamitos Ave

20 units · 1961 · 14,056 bldg sf · 15,877 lot sf
Prepared for John Ward
$4.70M
Most Likely
Realistic close
6.85%
Cap at Mid
Market NOI / Mid price
$235k
$ / Unit
At Most Likely
10.02
GRM
Market rent multiplier
The Three Numbers

Where it clears.

Every property gets three numbers. Low is the defensible floor — the hard number I'd hold in a soft market. Most Likely is the realistic close — what I walk into a buyer conversation with. Reach is the aspirational ask — room for offer-to-reduce dynamics, gives you upside if the trade moves fast.

Low
Defensible floor
$4.50M
$/u
$225k
Cap
7.16%
GRM
9.60
Most Likely
Realistic close
$4.70M
$/u
$235k
Cap
6.85%
GRM
10.02
Reach
Aspirational ask
$4.80M
$/u
$240k
Cap
6.71%
GRM
10.24
Property Snapshot

The building.

Core fundamentals pulled from the rent roll, T-12, and assessor record.

Units
20
(12) 1+1 · (8) 2+1
Year Built
1961
Building SF
14,056
≈ 702 sf/unit
Lot SF
15,877
Zoning
PD-30
APN
7267-025-027
City / Zip
Long Beach, CA 90813
Submarket
Long Beach
Income Read

Where the rent sits.

Current in-place rents vs. market — the difference is value-add upside.

$448,620
In-Place Annual Rent
From current rent roll
$468,960
Market Rent (Annual)
Per Costar / submarket comps
+4.5%
Upside to Market
$20,340 annual
Unit Type SF In-Place Market Δ to Market
900-2 1+1 585 $1,695 $1,860 +$165
900-3 1+1 585 $1,725 $1,860 +$135
900-4 1+1 585 $1,695 $1,860 +$165
900-7 1+1 585 $1,695 $1,860 +$165
900-8 1+1 585 $1,695 $1,860 +$165
900-9 1+1 585 $1,695 $1,860 +$165
904-2 1+1 585 $1,750 $1,860 +$110
904-3 1+1 585 $1,750 $1,860 +$110
904-4 1+1 585 $1,695 $1,860 +$165
904-7 1+1 585 $1,695 $1,860 +$165
904-8 1+1 585 $1,860 $1,860 $0
904-9 1+1 585 $1,695 $1,860 +$165
900-1 2+1 700 $2,095 $2,095 $0
900-5 2+1 700 $2,095 $2,095 $0
900-6 2+1 700 $2,095 $2,095 $0
900-10 2+1 700 $2,095 $2,095 $0
904-1 2+1 700 $2,095 $2,095 $0
904-5 2+1 700 $2,095 $2,095 $0
904-6 2+1 700 $2,095 $2,095 $0
904-10 2+1 700 $2,075 $2,095 +$20
Operating Snapshot

How it runs.

T-12 expenses normalized to market-rate operating costs (R&M, contract services, turnover, marketing, reserves). Stabilized NOI assumes rents reset to market.

Annualized Expense Walk
Real Estate Taxes $58,750 $2,938/u
Insurance $11,360 $568/u
Property Management $17,945 $897/u
Onsite Management $4,000 $200/u
Administrative $6,020 $301/u
Repairs & Maintenance $20,580 $1,029/u
Electric $940 $47/u
Gas $3,960 $198/u
Sewer / Water $6,860 $343/u
Trash $13,440 $672/u
Contract Services $3,320 $166/u
Turnover $2,000 $100/u
Reserves $5,000 $250/u
Marketing $2,000 $100/u
Total Operating Expenses $156,175 $7,809/u
NOI · As-Is
$302,685
In-place rent · normalized opex
NOI · Stabilized
$322,175
Market rent · normalized opex
Expense Ratio
32.6%
OpEx / EGI · target 32-38%
NOI Uplift to Stabilized
+6.4%
$19,490 annual
Sales Comps

What's trading.

6 recent sales used to anchor the cap rate and per-unit value. Median: $168,750/unit · 6.13% cap.

5320-5334 Lime Ave
90805-6050 · Built 1956 · 11 units
Sold
2026-04-03
Price
$1.77M
$/u
$161,364
Cap
5.17%
717 Medio St
90802 · Built 1941 · 22 units
Sold
2026-03-27
Price
$3.88M
$/u
$176,136
Cap
—
5320-5334 Lime Ave
90805-6050 · Built 1956 · 11 units
Sold
2026-03-17
Price
$1.77M
$/u
$161,364
Cap
—
32 Orange Ave
90802 · Built 1922 · 10 units
Sold
2026-03-17
Price
$2.25M
$/u
$225,000
Cap
6.30%
824-828 Redondo Ave
90804-5128 · Built 1957 · 10 units
Sold
2026-03-17
Price
$1.77M
$/u
$177,500
Cap
5.96%
636 Linden Ave
90802 · Built 1939 · 20 units
Sold
2026-03-11
Price
$3.00M
$/u
$150,250
Cap
6.87%
Sensitivity Analysis

Move the levers, watch the price.

Cap rates shift. Rents push or fall. Use these to stress-test the Most Likely number against your own market read.

Cap Rate Adjustment +0 bps
±100 basis points · tightens or loosens cap on the property
Rent Growth +0%
-10% to +20% · bump or compress income from current in-place
$4.70M
Adjusted Most Likely
No adjustments — same as today's market read.
Net to Owner

What you'd actually net.

Enter your outstanding loan balance and original acquisition basis. The calculator estimates closing costs, capital gains tax (federal LTCG + CA state + depreciation recapture), and what you'd walk away with in cash. Toggle 1031 to defer the tax.

Sale Price (use slider above)
$4.70M
$
$
Sale Price$0
Closing Costs (6%)$0
Loan Payoff$0
Equity Before Tax$0
Capital Gains Tax (Fed 20% + CA 9.3%)$0
Depreciation Recapture (25%)$0
Rough estimate. Actual tax depends on your CPA's depreciation schedule, basis adjustments, and any prior exchanges. Confirm with your CPA before transacting.
Net Cash to Owner$0
Market Read · Long Beach

How this submarket is trading.

Long Beach core 90813 / 90805 / 90806 is trading 6.5–7.0% caps on stabilized 1955–1965 vintage product. Renovated assets clear at $235–256k/unit; non-renovated trades at $200–230k/unit. Downtown / Alamitos Beach is the tightest pocket, NLB looser. Eviction protections (RSO) apply to most pre-1995 product.

Who You're Working With

WHY I built this.

I'm Taylor Avakian. I sell apartment buildings in Los Angeles, full stop. Not retail, not industrial, not hotels. Multifamily, in this market, every day.

Most owner-broker conversations start with a one-page valuation that doesn't show the work. I built this site for the opposite reason — so you can see exactly how I priced your property, stress-test it against your own assumptions, and decide what to do with the real numbers in front of you. No mystery, no theatrics.

If a deal doesn't pencil, I'll say so. If selling is wrong for you right now, I'll tell you that too. The long game beats the next commission every time.

Read more at thegroupcre.com →
$488M+
Total Closed
1,000+
Properties Valued
97.6%
List-to-Sale Ratio
28%
Faster Than LA Average
Taylor Avakian
Apartment buildings, Los Angeles
916-996-4421 · taylor@thegroupcre.com
DRE #02060040