525 Linden Ave
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525 Linden Ave
10 Unit Apartment Building $2,500,000 ($250,000/Unit) 5.11% Cap Rate Long Beach, CA 90802
Executive Summary
Marcus and Millichap is pleased to present a 10 unit apartment building located at 525 Linden Avenue in Long Beach, California. This is a value-add opportunity in a great location of East Village in Long Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 6,868 rentable square feet spread throughout a 7,536 square foot lot. It was built in 1973 and consists of 8 one bedroom / one bathroom units and 2 two bedroom / two bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 8 garages which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.
Property Facts
| Price | $2,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.11% | Building Size | 6,868 SF |
| Gross Rent Multiplier | 11.99 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1973 |
| Property Type | Multifamily | Parking Ratio | 0.58/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| Gross Rent Multiplier | 11.99 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,868 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 0.58/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Gated
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,649 | - |
| 2+2 | 2 | $2,095 | - |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (74)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 7281-002-018 | Improvements Assessment | $957,941 |
| Land Assessment | $783,770 | Total Assessment | $1,741,711 |
PROPERTY TAXES
Parcel Number
7281-002-018
Land Assessment
$783,770
Improvements Assessment
$957,941
Total Assessment
$1,741,711
zoning
| Zoning Code | PD30, Long Beach |
| PD30, Long Beach |
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525 Linden Ave
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