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1882 Lime Avenue, Long Beach, CA

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1882 Lime Avenue

Long Beach, CA 90806-5572 - Signal Hill MF Submarket

Property Type:Multi-Family Number of Units:5 Status:Existing Year Built:1928
Stories:2 Building Size:4,012 SF Land Area:.13 AC (5,589 SF)
For Sale Price:$925,000 Price/Unit:$185,000.00 Cap Rate:5.43 % GRM:12.00

Parking:.67 Parking Spaces / 1,000 SF

Property Description: Multi Family - 6 Units

Sale Notes:
We are pleased to present this turn-key two building two-story property, consisting of one non conforming two-bedroom/ one-bathroom unit, three two-bedroom/ one-bathroom units and one three-bedroom/ two bathroom unit. Included are also four garages. This property is located in the City of Long Beach, near the intersection of Atlantic Boulevard and Pacific Coast Highway. This offering has recently undergone $85,000 of renovations, which includes new windows, new tile and wood floors, renovated kitchens in all units, copper piping and a main sewer line in the front building, exterior staircase, and a tankless water heater. One of the two bedroom units is a non-conforming unit. While the non conforming unit shares one meter, the other four units are separately metered for gas and electric. This property is gated and contains an inner courtyard.
The property is just two miles from the beach as well as Downtown Long Beach and five miles to Long Beach Airport. This property's location provides tenants easy access to major shopping, entertainment, and employment opportunities. The property is also in close proximity to schools, hospitals, and parks

Marcus & Millichap Inc
Jesse Elsanhuty
(949) 419-3200

Mark D Bridge
(949) 419-3297

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