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416 Lime Ave 2 Unit Apartment Building Offered at $1,378,314 CAD at a 3.40% Cap Rate Long Beach, CA 90802
Executive Summary
Prime Location Where Retro Row Meets Downtown Long Beach. This beautifully updated duplex sits in an unbeatable location, just steps from the best of Long Beach living. The spacious owner’s unit is a true loft-style two-story home featuring 3 bedrooms and 2 bathrooms. With an open-concept layout, it feels remarkably expansive and bright. Enjoy modern comforts including in-unit laundry, forced-air heating, updated flooring, quartz counters, and fresh cabinetry throughout. The wide-open living space is perfect for relaxing or entertaining. The separate 1 bedroom, 1 bathroom unit on the south side of the property offers the same thoughtful updates—open floor plan, new flooring, counters, and cabinets—making it ideal for guests, extended family, or easy rental income. Additional features include a large paver driveway with tandem parking for two vehicles and a convenient outdoor storage shed. The roof was just replaced in 2023 and the foundation had a major retrofit in 2018. Location Highlights: Just 4 blocks south to the sand and ocean 4 blocks west to vibrant Pine Avenue with dining, shopping, and nightlife Direct access to the Long Beach Aquarium and Long Beach Convention Center 4 blocks to the Metro Blue Line for quick commutes to downtown LA Less than 2 miles to the 710 Freeway Whether you're looking for a primary residence with income potential or a turnkey investment property, this duplex delivers exceptional value in one of Long Beach’s most desirable neighborhoods.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$86,439
|
$39.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,322
|
$1.96
|
| Effective Gross Income |
$82,117
|
$37.26
|
| Taxes |
$17,230
|
$7.82
|
| Operating Expenses |
$17,890
|
$8.12
|
| Total Expenses |
$35,120
|
$15.93
|
| Net Operating Income |
$46,997
|
$21.32
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $86,439 |
| Annual Per SF | $39.22 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,322 |
| Annual Per SF | $1.96 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $82,117 |
| Annual Per SF | $37.26 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,230 |
| Annual Per SF | $7.82 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,890 |
| Annual Per SF | $8.12 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $35,120 |
| Annual Per SF | $15.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $46,997 |
| Annual Per SF | $21.32 |
Property Facts
| Price | $1,378,314 CAD | Apartment Style | Garden |
| Price Per Unit | $689,157 CAD | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 2,204 SF |
| Cap Rate | 3.40% | No. Stories | 2 |
| Gross Rent Multiplier | 16 | Year Built/Renovated | 1905/2020 |
| No. Units | 2 | Parking Ratio | 0.91/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Zoning | LBPD30 | ||
| Price | $1,378,314 CAD |
| Price Per Unit | $689,157 CAD |
| Sale Type | Investment |
| Cap Rate | 3.40% |
| Gross Rent Multiplier | 16 |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.05 AC |
| Building Size | 2,204 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1905/2020 |
| Parking Ratio | 0.91/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBPD30 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,571 CAD | - |
| 1+1 | 1 | $2,632 CAD | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7281-006-029 | Total Assessment | $1,158,581 CAD |
| Land Assessment | $752,326 CAD | Annual Taxes | $17,230 CAD ($7.82 CAD/SF) |
| Improvements Assessment | $406,255 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7281-006-029
Land Assessment
$752,326 CAD
Improvements Assessment
$406,255 CAD
Total Assessment
$1,158,581 CAD
Annual Taxes
$17,230 CAD ($7.82 CAD/SF)
Tax Year
2025
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416 Lime Ave
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