227 Lime Avenue
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 3,750 sqft lot
- 1923 build
- – on site
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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.
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Last updated Jul 24, 2023
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MLS# SB23036205 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/21/23
Jul 21, 2023
|
Sold | CRMLS_CA | $2,500,000 | -5.7% |
|
7/6/23
Jul 6, 2023
|
Pending | CRMLS_CA | $2,650,000 | |
|
4/24/23
Apr 24, 2023
|
Sold Subject To Contingencies | CRMLS_CA | $2,650,000 |