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9.71 GRM | $167,500 per Unit 636 Linden Ave 20 Unit Apartment Building $3,350,000 ($167,500/Unit) 6.16% Cap Rate Long Beach, CA 90802
INVESTMENT HIGHLIGHTS
- Priced at 9.71 GRM at Current Rents
- Prime East Village Arts District
- 17 of 20 Units Renovated
- Only $167,500 per Door
- Upgraded Electrical Panels and Plumbing
EXECUTIVE SUMMARY
636 Linden Avenue is a 20-unit apartment asset located in vibrant East Village Arts District, Downtown Long Beach. The asset is priced at just $167,500 per unit, 9.71 GRM and 6.16% cap rate at current rents.
The property is comprised of all studio units, with 17 of the 20 units fully renovated with new flooring and upgraded kitchens and baths. The secured-access building features upgraded electrical panels and plumbing, as well as separately metered utilities.
With a Walk Score of 92 and Bike Score of 91, the property is conveniently located adjacent to East Village Arts District, Downtown Long Beach, Shoreline Village, and the beach/bike path.
The property is comprised of all studio units, with 17 of the 20 units fully renovated with new flooring and upgraded kitchens and baths. The secured-access building features upgraded electrical panels and plumbing, as well as separately metered utilities.
With a Walk Score of 92 and Bike Score of 91, the property is conveniently located adjacent to East Village Arts District, Downtown Long Beach, Shoreline Village, and the beach/bike path.
PROPERTY FACTS
| Price | $3,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $167,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.16% | Building Size | 8,422 SF |
| Gross Rent Multiplier | 9.71 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1939 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LBPD30 - restricted Density Multiple Dwelling | ||
| Price | $3,350,000 |
| Price Per Unit | $167,500 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 9.71 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,422 SF |
| No. Stories | 2 |
| Year Built | 1939 |
| Opportunity Zone |
Yes |
| Zoning | LBPD30 - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Fenced Lot
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 20 | - | 360 |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (74)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 7274-018-010 | Improvements Assessment | $1,406,100 |
| Land Assessment | $2,599,959 | Total Assessment | $4,006,059 |
PROPERTY TAXES
Parcel Number
7274-018-010
Land Assessment
$2,599,959
Improvements Assessment
$1,406,100
Total Assessment
$4,006,059
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9.71 GRM | $167,500 per Unit | 636 Linden Ave
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