Sold
227 Lime Avenue
Long Beach CA, 90802
$2,500,000
$730.14 per sqft
Sold
3,424 sqft
Condo
Built in 1923
Listed by Anthony Walker with Buckingham Investments, Inc 310 982-7055
11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long
Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.
SB23036205
MLSⓇ ID
March 3, 2023
Listed
March 23, 2024
Updated
Map
227 Lime Avenue
Long Beach CA, 90802
Interior Features
Total Stories
2
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.09 Acres
Lot Features
0-1 Unit/Acre
Sewer
Public Sewer
Other Property Details
Area Name
4 - Downtown Area, Alamitos Beach
Days on Market
31
Garage
No
Parking Total
2
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBPD30
Buyer Agency Compensation
2%
Listing Contact: 310 982-7055
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Data last updated on 3/23/2024 at 1:20 AM UTC