728-730 Lime Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,495,000 USD
310-982-7055
728-730 Lime Ave, Long Beach, CA for Sale
$1,495,000 USD
Apartments - FOR SALE
1/9
null | 6.2% Cap Rate

728-730 Lime Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • 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.

OVERVIEW

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 totaling 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 withr ates in the high 5%'s and a 6.2% cap rate on actual rents.

FOR SALE DETAILS

PRICE

$1,495,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

3

PRICE/UNIT

$498,333

CAP RATE

6.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

R4, Long Beach

APN/PARCEL ID

7274-020-007

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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