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728-730 Lime Ave 2 Unit Apartment Building $2,086,900 CAD ($1,043,450 CAD/Unit) 6.20% Cap Rate Long Beach, CA 90813
INVESTMENT HIGHLIGHTS
- Great location right in Downtown Long Beach just North of the East Village Arts District.
- Only 7 blocks to the beach.
- Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development.
EXECUTIVE SUMMARY
Huge 6 unit campus property with three large units in front, Craftsman bungalow in the middle, and two brand new 2025 construction ADUs in the rear totaling 5707 rentable square feet on a 7500 square foot lot. Great unit mix averaging 950 square feet with one 5 bed, 2 bath unit, four 2 bed, 1 bath units, and one 1 bed, 1 bath unit. Aggressively priced at $262/square foot, 9.8X GRM and 6.2% cap rate on actual rents plus an 8% upside to 9X GRM and 6.9% cap rate on market rents. Brand new electrical main panel. Skip the smaller properties and go straight to commercial positive leverage withr ates in the high 5%'s and a 6.2% cap rate on actual rents.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,086,900 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,043,450 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.20% | Building Size | 4,601 SF |
| Gross Rent Multiplier | 9.8 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 0.87/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, Long Beach | ||
| Price | $2,086,900 CAD |
| Price Per Unit | $1,043,450 CAD |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,601 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 0.87/1,000 SF |
| Zoning | R4, Long Beach |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 5+2 | 1 | $5,130 CAD | - |
| 1+1 | 1 | $2,093 CAD | - |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 7274-020-007 | Total Assessment | $1,472,242 CAD (2025) |
| Land Assessment | $1,030,571 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $441,671 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
7274-020-007
Land Assessment
$1,030,571 CAD (2025)
Improvements Assessment
$441,671 CAD (2025)
Total Assessment
$1,472,242 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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728-730 Lime Ave
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