2364-2370 Lime Ave - Apartments FOR SALE


Long Beach, CA 90806
$2,890,000 USD
310-666-2246
2364-2370 Lime Ave, Long Beach, CA for Sale
$2,890,000 USD
Apartments - FOR SALE
1/24
null | 6.25% Cap Rate

2364-2370 Lime Ave
Long Beach, CA 90806


HIGHLIGHTS

  • 8 Renovated units cash flowing at an incredible 6.25% Cap Rate from day 1!
  • Attractive 2.05M assumable financing at an incredibly low interest rate of 4.9% interest rate fixed through 01/01/2028
  • 4 Large (3Bed/1.5Bath) units in front plus 4 (1Bed/1Bath) units in the back including 2 brand-new ADUs
  • Each of the three-bedroom units come with interior laundry and their own one car garage/storage in the back
  • Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses

OVERVIEW

Price Reduction! 8 Renovated and 100% Occupied units, cash flowing at an amazing Current Cap Rate of 6.25% from day 1! Attractive 2.05M assumable financing at an incredibly low interest rate of 4.9% fixed through 01/01/2028. Large unit mix of 4 (3Bed/1.5Bath) units in front plus 4 (1Bed/1Bath) units in the back including 2 brand-new ADUs. Each of the three-bedroom units come with interior laundry and their own one car garage/storage in the back. Many units boast upgrades such as modern cabinets, new flooring, updated kitchen, bathrooms, exterior improvements, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Prime Long Beach location minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

FOR SALE DETAILS

PRICE

$2,890,000 USD

PRICE/SF

$449 USD /SF

# OF UNITS

8

PRICE/UNIT

$361,250

CAP RATE

6.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Price Reduction! 6.25% Cap -8 Renovated Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R1N, Long Beach

APN/PARCEL ID

7211-009-009

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.