Del Rio — Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90802

Investment Figures

Cap rate
5.94%

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 is pleased to present to market 338 Linden Avenue, a 17-unit apartment building in Long Beach, California. This offering presents an excellent opportunity to acquire a renovated asset with three brand new ADU’s in a strong coastal market. 338 Linden Avenue is a two-story building with a mix of one studio, 15 one-bed/one-bath units, one two-bed/two-bath unit, controlled access, and shared laundry. The building boasts numerous substantial improvements: three of the one-bedrooms are recently completed ADU additions, nine of the units have been recently remodeled, and a complete re-pipe to copper plumbing. 338 Linden Avenue is located in Downtown Long Beach’s vibrant East Village Arts District within easy walking distance of dining, shopping, and entertainment (WalkScore: 98), two blocks to the Metro Blue Line, and a half-mile to Alamitos Beach. Investment Highlights: • 17-Unit Apartment Building With Three Brand New ADU's, Nine Remodeled Units, and Additional Recent Improvements • Located in Long Beach's Vibrant East Village Arts District Proximate to Retail, the Metro Blue Line, and Downtown Dining and Entertainment (WalkScore: 98) • Mix of One Studio, 15 One-Bed/One-Bath Units, and One Two-Bed/Two-Bath Unit • 10 Percent Rental Upside

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in Long Beach, CA — view the full market.

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