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Apartment Complex in Heart of Downtown Long Beach

$2,004,000

227 Lime Ave, Long Beach, CA 90802

Active
Last Updated: 07/18/2024

4.14

Cap Rate

82,977

NOI

Details:
Cap Rate:    4.14%
NOI:    $82,977
Building Size:    3,434 sqft
Units:    11
GRM:    16.25
Price Per Sqft:    $583.58
Price Per Unit:    $182,182
Floors:    2
Highlights:
  • Heart of Downtown Long Beach
  • Long Term Owner and Tenants
  • Good Unit Mix
  • Value Added Opportunity
  • Not subject to Rent Control
Description:

Nice Two Story 10 plus 1 non-conforming unit apartment complex located in the heart of Downtown Long Beach. Unit mix comprised of (5) 1 Bed / 1 Bath units, (5) Studios and (1) Larger Non-Conforming 1 Bed / 1 Bath unit. Long term ownership and tenants. Building shares laundry across the street with its sister building 236 Lime Ave. not subject to rent control.

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Documents:
Title
Offering Memorandum
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