1035 Lime Ave — Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90813

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Investment Figures

Cap rate
5.57%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1035 Lime Avenue, a 10-unit multifamily investment property located in Long Beach, California. Built in 1924 and situated on a 0.15-acre lot, 1035 Lime Avenue features a unit mix of 2 studios, 6 1-bed/1-bath units and 2 2-bed/1-bath units totaling approximately 6,384 square feet of net rentable area. The gated property offers a central courtyard, an on-site laundry facility and 5 garage parking spaces. The laundry facility provides existing ancillary income, while the garage parking offers additional flexibility as a separate revenue source or tenant amenity. Current ownership has completed substantial improvements to both the building systems and individual units. Work includes new copper plumbing, updated electrical systems and all-new kitchens and bathrooms throughout the property. Most units have undergone extensive renovations, with much of the interior work involving down-to-the-studs improvements. These upgrades provide a strong physical foundation and reduce the need for an incoming owner to undertake a significant renovation program. 1035 Lime Avenue is located near the East Village Arts District and Downtown Long Beach, placing residents close to an established mix of restaurants, retail, entertainment and cultural destinations. The property is also within convenient reach of the Long Beach waterfront, including the marina, shoreline recreation, dining and other coastal amenities. With substantial capital and interior improvements already completed, 1035 Lime Avenue offers an investor the opportunity to acquire an improved multifamily asset in a central Long Beach location. Its diverse unit mix, gated setting, garage parking, ancillary income sources and proximity to Downtown, East Village and the waterfront support the property’s long-term appeal to renters. Investment Highlights: • 10 Units | 6,384 SF: Mix of studio, 1-bed, and 2-bed layouts. • Extensive

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.

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