Prime East Village Arts District 235 Linden Ave 18 Unit Apartment Building $3,900,000 ($216,667/Unit) 5.18% Cap Rate Long Beach, CA 90802

235–237 Linden Avenue is an 18-unit multifamily asset located in Long Beach’s East Village Arts District, a walkable and supply-constrained Downtown submarket supported by consistent renter demand and proximity to employment, transit, and lifestyle amenities. The property features a balanced unit mix of nine (9) studios and nine (9) one-bedroom/one-bath units, providing an efficient unit mix aligned with prevailing demand in the area, as evidenced by 100% occupancy (as of March 2026).
Originally constructed in 1913, the building retains its character exterior while offering fully renovated interiors across all units. The seller has invested approximately $275,000 in capital improvements including roofing upgrades, unit renovations, keyless entry for all units, and exterior enhancements. The completion of renovations positions the asset as a stabilized, low-deferred-maintenance investment with limited near-term capital requirements, allowing for more predictable operations relative to comparable vintage properties.
The property is situated in a highly walkable location, with a 98 Walk Score and 91 Bike Score, placing residents within immediate access to Downtown Long Beach’s dining, retail, and entertainment corridors. The East Village Arts District continues to maintain stable occupancy and rent performance, driven by its distinct identity, concentration of local businesses, and connectivity to the broader Downtown employment base.
From an investment perspective, 235–237 Linden Avenue is best suited for investors seeking a renovated, operationally stable asset in an established urban infill location. A new owner has the opportunity to increase cash flow through the implementation of RUBS. The offering also qualifies for attractive financing at 5.05%.