Homes for sale - 627 Linden AVE, Long Beach, CA 90802

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Dan Carpenter • Surterre Properties Inc

$3,100,000

Est. payment - /mo

7,537 Sqft Lot

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC26010608

Year Built 1947

Lot Size 7,537 Sqft

Source California Regional MLS

Property Description

The subject property is a 22-unit apartment building located in the trendy "East Village" neighborhood of Long Beach. This charming two story 1940's complex is on a quiet street, just 6 blocks from the Ocean Avenue, and a 10-minute bike ride to Alamitos Beach! Walk Score: 97/100 (Walker's Paradise) 97 / 100. Walker's Paradise. Transit Score® 74 / 100. Excellent Transit. 89 / 100. Very Bikeable. The unit mix is predominantly Studio apartments (20) with a One Bedroom Unit and a Two Bedroom 1 Bath unit. All units are separately metered for gas and electric utilities. There is a secured entrance with laundry room onsite, and ample street parking. Priced attractively at a GRM of 9.84 and with the rent increases of 8% (AB 1482) that are due this year, the GRM drops to 9.12 and a CAP rate of 6.27% at the listed price. After that rent increase, the rents still have another 20% upside based on the average and median rent rates on the rent survey.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Laundry In Laundry Room, Laundry Area

Exterior

Garage Spaces 2.0

Pool 31, None

Building

Water District - Public

Others

Tax ID 7273028008

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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627 Linden AVE Long Beach, CA 90802

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

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