338 Linden Ave - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$4,750,000 USD
424-405-3826
338 Linden Ave, Long Beach, CA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/6
null | 5.94% Cap Rate

338 Linden Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • 17-Unit Apartment Building With Three Brand New ADU’s, Nine Remodeled Units, and Additional Recent Improvements
  • Located in Long Beach’s Vibrant East Village Arts District Proximate to Retail, the Metro Blue Line, and Downtown Dining and Entertainment
  • Mix of One Studio, 15 One-Bed/One-Bath Units, and One Two-Bed/Two-Bath Unit
  • 10 Percent Rental Upside

OVERVIEW

Marcus & Millichap is pleased to present to market 338 Linden Avenue, a 17-unit apartment building in Long Beach, California. This offering presents an excellent opportunity to acquire a renovated asset with three brand new ADU’s in a strong coastal market. 338 Linden Avenue is a two-story building with a mix of one studio, 15 one-bed/one-bath units, one two-bed/two-bath unit, controlled access, and shared laundry. The building boasts numerous substantial improvements: three of the one-bedrooms are recently completed ADU additions, nine of the units have been recently remodeled, and a complete re-pipe to copper plumbing. 338 Linden Avenue is located in Downtown Long Beach’s vibrant East Village Arts District within easy walking distance of dining, shopping, and entertainment (WalkScore: 98), two blocks to the Metro Blue Line, and a half-mile to Alamitos Beach.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$597 USD /SF

# OF UNITS

17

PRICE/UNIT

$279,412

CAP RATE

5.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Del Rio

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,514 SF

ZONING

LBPD30

APN/PARCEL ID

7281-011-017

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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