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227 Lime Ave, Long Beach
Priced to sell at only $163k per door. This 11-unit building is located in the East Village Arts District of Long Beach. Priced with very high in-place cash flow at close with actual rents resulting in an 9.52X GRM and 6.8% cap rate. Low maintenance building with very little gardening required. This property is located only 3 blocks from the beach and within walking distance to shopping centers, medical facilities, grocery stores, and dining. Don’t miss out on this incredible opportunity! Offering memorandum in supplemental materials. One unit is currently vacant.
Property Details
- Units: 10
- Gross Rent Multiplier: 9.52
- Cap Rate: 6.8
Download Offering Memorandum
Contact Listing AgentPrice
$1,800,000
Annual Income
$225,300
Annual NOI
$161,325
Annual Expense
$57,575
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 1 | 1 | $1,452 | $1,452 | $1,667 | $1,667 |
| 1 | 0 | 1 | $1,384 | $1,384 | $1,695 | $1,695 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 2 | 1 | 2 | $2,836 | $3,362 |
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