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Listed by Anthony Walker • Buckingham Investments, Inc
$1,495,000
Est. payment /mo
7,501 Sqft Lot
Active
728 Lime Ave Long Beach, CA 90813
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25233581
Year Built 1912
Lot Size 7,501 Sqft
Source California Regional MLS
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
Laundry None
Exterior
Parking Features Other
Garage Spaces 2.0
Pool 31, None
Roof Type Flat / Low Pitch,Composition
Building
Foundation Raised, Concrete Slab
Water District - Public
Others
Tax ID 7274020007
Special Listing Condition Not Applicable
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