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$3,100,000

Est. payment - /mo

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7,535 Sqft Lot

New

627 Linden AVE Long Beach, CA 90802

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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID OC26010608

HOA Y/N No

Year Built 1947

Annual Tax Amount $38,564

Lot Size 7,535 Sqft

Property Sub-Type Apartment

Property Description

The subject property is a 22-unit apartment building located in the trendy “East Village” neighborhood of Long Beach. This charming two story 1940's complex is on a quiet street, just 6 blocks from the Ocean Avenue, and a 10-minute bike ride to Alamitos Beach! Walk Score: 97/100 (Walker's Paradise) 97 / 100. Walker's Paradise. Transit Score® 74 / 100. Excellent Transit. 89 / 100. Very Bikeable. The unit mix is predominantly Studio apartments (20) with a One Bedroom Unit and a Two Bedroom 1 Bath unit. All units are separately metered for gas and electric utilities. There is a secured entrance with laundry room onsite, and ample street parking. Priced attractively at a GRM of 9.84 and with the rent increases of 8% (AB 1482) that are due this year, the GRM drops to 9.12 and a CAP rate of 6.27% at the listed price. After that rent increase, the rents still have another 20% upside based on the average and median rent rates on the rent survey.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Sidewalks

Total Parking Spaces 2

Private Pool No

Building

Lot Description 21-25 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7273028008

Security Features Resident Manager,Window Bars

Energy Description 2000.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Dan Carpenter Surterre Properties Inc 949-205-6575

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES

Elementary Schools 20

9

Fremont Elementary School

Public | KG - 5
8

Signal Hill Elementary School

Public | KG - 5
8

Alvarado Elementary School

Public | KG - 5
7

Muir Academy

Public | KG - 8
7

Chavez Elementary School

Public | KG - 5
7

Birney Elementary School

Public | KG - 5
7

Lafayette Elementary School

Public | KG - 5
7

Robert Louis Stevenson Elementary School

Public | KG - 5
7

Lincoln Elementary School

Public | KG - 5
6

Garfield Elementary School

Public | KG - 5
6

Robinson K - 8 Academy

Public | KG - 8
6

Roosevelt Elementary School

Public | KG - 5
6

Mann Elementary School

Public | KG - 5
6

Bryant Elementary School

Public | KG - 5
5

Elizabeth Beth Hudson K - 8 School

Public | KG - 8
5

Daniel Webster Elementary School

Public | KG - 5
5

Oropeza Elementary School

Public | KG - 5
5

Smith Elementary School

Public | KG - 5
5

Burbank Elementary School

Public | KG - 5
5

Nieto Herrera Elementary School

Public | KG - 5

Middle Schools 7

6

Franklin Classical Middle School

Public | 6 - 8
6

Jessie E. Nelson Academy

Public | 6 - 8
5

Stephens Middle School

Public | 6 - 8
5

Washington Middle School

Public | 6 - 8
5

Jefferson Leadership Academies

Public | 6 - 8
0

Regency High School

Private | 7 - 12
0

Zinsmeyer Academy

Private | 8 - 12

High Schools 9

7

Renaissance High School for the Arts

Public | 9 - 12
7

Wilson High School

Public | 9 - 12
6

Polytechnic High School

Public | 9 - 12
1

Cabrillo High School

Public | 9 - 12
1

Beach High-Intensive Learning Program

Public | 9 - 12
0

Reid High School

Public | 11 - 12
0

Educational Partnership High School

Public | 9 - 12
0

St Anthony High School

Private | 9 - 12
0

Long Beach Unified School District Regional Occupational Program

Public | 10 - 12

School and business data provided by Attom Data.

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Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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