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Map
$2,642,769*
●
Multifamily -
Off Market
227 Lime Avenue
Long Beach, CA 90802
6 Beds
11 Baths
3424 Sqft
$2,385,000 - $2,915,000
Reference Base Price*
-0.27%
Since Aug 1, 2023
National-US
Primary Model
About This Property
10 + 1 non-conforming 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. 450 square foot bonus
non-conforming free standing unit not included in square footage,
may be eligible for permitting through Long Beach Amnesty Ordinance
or as an ADU. 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.
The manager has listed the unit size as 3424 square feet.
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.
The manager has listed the unit size as 3424 square feet.
Unit Size
3,424Ft²
Days on Market
-
Land Size
0.09 acres
Price per sqft
$774
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1923
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jul 25, 2023 | No longer available | - | |
No longer available | |||
Jul 21, 2023 | Sold | $2,500,000 | |
Sold | |||
Apr 25, 2023 | In contract | - | |
In contract | |||
Mar 3, 2023 | Listed | $2,650,000 | |
Listed | |||
Apr 20, 2022 | Sold | $2,150,000 | |
Sold |
Property Highlights
Building Details
New Construction
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
07/14/2022
|
|
Studio
|
-
|
3424 ft²
|
$2,550,000
Studio
-
3424 ft²
|
-
-
|
-
|
Anthony Walker
Buckingham Investments, Inc
|
Building Info
About Downtown Long Beach
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