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Julieanne Phan

julieannephan@icloud.com +1(714) 655-1434

$ 3,100,000

Est. payment -/mo

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Active

627 Linden AVE Long Beach, CA 90802

7,535 Sqft Lot

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

Julieanne Phan

Broker

+1(714) 655-1434

Julieanne Phan

627 Linden AVE Long Beach, CA 90802

Key Details

Location

Interior

Exterior

Building

Others

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627 Linden AVE