728 Lime Ave, Long Beach, CA 90813

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Glen Henderson

[email protected] +1(619) 889-7646

$1,495,000

Est. payment - /mo

10 Beds

7,501 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID SB25233581

Bedrooms 10

Lot Size 7,501 Sqft

Property Sub-Type Res Income 2-4 Units

Property Type Res Income 2-4 Units

Property Description

Huge 6 unit campus property with three large units in front, Craftsman bungalow in the middle, and two brand new 2025 construction ADUs in the rear totalling 5707 rentable square feet on a 7500 square foot lot. Great unit mix averaging 950 square feet with one 5 bed, 2 bath unit, four 2 bed, 1 bath units, and one 1 bed, 1 bath unit. Aggressively priced at $262/square foot, 9.8X GRM and 6.2% cap rate on actual rents plus an 8% upside to 9X GRM and 6.9% cap rate on market rents. Brand new electrical main panel. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 7 blocks to the beach.

Location

State CA

County Los Angeles

Zoning Assessor

Direction East Side of Lime, North of 7th St

Interior

Fireplace No

Exterior

View Y/N No

Roof Type Composition

Building

Story 2

Level or Stories 2

Others

Tax ID 7274020007

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Listed by Anthony Walker Buckingham Investments, Inc

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

728 Lime Ave Long Beach, CA 90813

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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