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416 Lime Ave 2 Unit Apartment Building Offered at $995,000 at a 3.40% Cap Rate Long Beach, CA 90802

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Executive Summary

Prime Location Where Retro Row Meets Downtown Long Beach. This beautifully updated duplex sits in an unbeatable location, just steps from the best of Long Beach living. The spacious owner’s unit is a true loft-style two-story home featuring 3 bedrooms and 2 bathrooms. With an open-concept layout, it feels remarkably expansive and bright. Enjoy modern comforts including in-unit laundry, forced-air heating, updated flooring, quartz counters, and fresh cabinetry throughout. The wide-open living space is perfect for relaxing or entertaining. The separate 1 bedroom, 1 bathroom unit on the south side of the property offers the same thoughtful updates—open floor plan, new flooring, counters, and cabinets—making it ideal for guests, extended family, or easy rental income. Additional features include a large paver driveway with tandem parking for two vehicles and a convenient outdoor storage shed. The roof was just replaced in 2023 and the foundation had a major retrofit in 2018. Location Highlights: Just 4 blocks south to the sand and ocean 4 blocks west to vibrant Pine Avenue with dining, shopping, and nightlife Direct access to the Long Beach Aquarium and Long Beach Convention Center 4 blocks to the Metro Blue Line for quick commutes to downtown LA Less than 2 miles to the 710 Freeway Whether you're looking for a primary residence with income potential or a turnkey investment property, this duplex delivers exceptional value in one of Long Beach’s most desirable neighborhoods.

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$62,400	$28.31
Other Income	-	-
Vacancy Loss	$3,120	$1.42
Effective Gross Income	$59,280	$26.90
Taxes	$12,438	$5.64
Operating Expenses	$12,915	$5.86
Total Expenses	$25,353	$11.50
Net Operating Income	$33,927	$15.39

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$62,400
Annual Per SF	$28.31

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$3,120
Annual Per SF	$1.42

Effective Gross Income
Annual	$59,280
Annual Per SF	$26.90

Taxes
Annual	$12,438
Annual Per SF	$5.64

Operating Expenses
Annual	$12,915
Annual Per SF	$5.86

Total Expenses
Annual	$25,353
Annual Per SF	$11.50

Net Operating Income
Annual	$33,927
Annual Per SF	$15.39

Property Facts

Price	$995,000	Apartment Style	Garden
Price Per Unit	$497,500	Lot Size	0.05 AC
Sale Type	Investment	Building Size	2,204 SF
Cap Rate	3.40%	No. Stories	2
Gross Rent Multiplier	16	Year Built/Renovated	1905/2020
No. Units	2	Parking Ratio	0.91/1,000 SF
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LBPD30

Price	$995,000
Price Per Unit	$497,500
Sale Type	Investment
Cap Rate	3.40%
Gross Rent Multiplier	16
No. Units	2
Property Type	Multifamily
Apartment Style	Garden
Lot Size	0.05 AC
Building Size	2,204 SF
No. Stories	2
Year Built/Renovated	1905/2020
Parking Ratio	0.91/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	LBPD30