626-632 Linden Ave - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$1,650,000 USD
949-630-0979
626-632 Linden Ave, Long Beach, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/4
null | 6.54% Cap Rate

626-632 Linden Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • • Excellent East Village Arts District Location - Walk Score of 97
  • • Well maintained property
  • • Upgraded electric panels
  • • 6.2% Cap Rate – current rents 8.1% Cap Rate – market rents
  • • 13.1% Pro Forma return

OVERVIEW

• Excellent East Village Arts District Location - Walk Score of 97 • Well maintained property • Upgraded electric panels • Approximately 18% rental upside • 6.2% Cap Rate – current rents 8.1% Cap Rate – market rents • 13.1% Pro Forma return Located in the heart of Long Beach’s vibrant East Village Arts District, 626 Linden Avenue places residents within walking distance of dining, shopping, and entertainment. This central location in one of Downtown Long Beach’s most desirable rental submarkets, where demand is supported by walkability, employment accessibility, and proximity to the city’s coastal amenities and close access to the Metro and major freeways. The East Village, just southeast of Downtown Long Beach, it is home to over 50 small businesses, restaurants, and boutique hotels, and galleries. This desirable location attracts young tenants ranging from CSULB students, creative professionals and people working port related jobs which provides over 50,000 high paying jobs. Long Beach is the 7th largest city in California and offers a unique blend of a casual coastal lifestyle and urban convenience with lots of employment opportunities. Major industries include port logistics, aerospace and aviation, healthcare and tourism.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

9

PRICE/UNIT

$183,333

CAP RATE

6.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1918

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,606 SF

ZONING

RR4H, Long Beach

APN/PARCEL ID

7274-018-012

ASK ABOUT THIS PROPERTY

Grant HahnMorgan-Skenderian Investment Real Estate GroupMore Info
949-630-0979

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Grant HahnMorgan-Skenderian Investment Real Estate GroupMore Info
949-630-0979

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