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227 Lime Ave 11 Unit Apartment Building $1,800,000 ($163,636/Unit) 6.78% Cap Rate Long Beach, CA 90802
Investment Highlights
- Priced to sell at only $163k per door
- Located only 3 blocks from the beach and within walking distance to shopping centers, medical facilities, grocery stores, and dining
- Priced with very high in-place cash flow at close with actual rents resulting in an 9.52X GRM and 6.8% cap rate
Executive Summary
Priced to sell at only $163k per door. This 11-unit building is located in the East Village Arts District of Long Beach. Priced with very high in-place cash flow at close with actual rents resulting in an 9.52X GRM and 6.8% cap rate. Low maintenance building with very little gardening required. This property is located only 3 blocks from the beach and within walking distance to shopping centers, medical facilities, grocery stores, and dining. Don't miss out on this incredible opportunity!
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $163,636 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.78% | Building Size | 3,434 SF |
| Gross Rent Multiplier | 9.52 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBPD30 | ||
| Price | $1,800,000 |
| Price Per Unit | $163,636 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| Gross Rent Multiplier | 9.52 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,434 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
| Opportunity Zone |
Yes |
| Zoning | LBPD30 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,495 | 400 |
| Studios | 2 | $1,495 | 400 |
| Studios | 1 | $1,423 | 400 |
| Studios | 1 | $1,395 | 400 |
| 1+1 | 1 | $1,369 | 400 |
| 1+1 | 2 | $1,473 | 400 |
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Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7281-014-010 | Total Assessment | $2,550,000 |
| Land Assessment | $1,683,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $867,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
7281-014-010
Land Assessment
$1,683,000
Improvements Assessment
$867,000
Total Assessment
$2,550,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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227 Lime Ave
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