CA > Long Beach > Downtown (Dt)
Long Beach, CA 90813,728 Lime Ave
Long Beach, CA 90813,728 Lime Ave
Long Beach, CA 90813,728 Lime Ave
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$1,495,000
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7,501 Sqft Lot
New

728 Lime Ave Long Beach, CA 90813

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Hailey Potok

Hailey Potok

+1(714) 878-0877

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID SB25233581

HOA Y/N No

Year Built 1912

Lot Size 7,501 Sqft

Property Sub-Type Apartment

Property Description

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 totalling 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 with rates in the high 5%'s and a 6.2% cap rate on actual rents.

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.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Cooling None

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Parking Features Paved

Fence Chain Link

Pool None

Community Features Suburban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Roof Type Composition,Flat

Total Parking Spaces 2

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Foundation Raised, Slab

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7274020007

Energy Description 2013.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

CRMLS – RECore
Listed by Anthony Walker Buckingham Investments, Inc 310-561-4776

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Hailey Potok

Hailey Potok

REALTOR® | License ID: 02024094

+1(714) 878-0877

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728 Lime Ave