601 Linden Avenue

601 Linden Avenue, Long Beach, CA 90802

Sale Price

$3,800,000

Investment Overview

Units

12

Year Built

1929

Price Per SF

$469

Price Per Unit

$316,667

Current Cap Rate

4.02%

Market Cap Rate

4.46%

Current GRM

15.21

Market GRM

14.19

The Offering

601 Linden Avenue is a beautifully-renovated,  12-unit investment asset in the highly popular East Village Arts District neighborhood in Downtown Long Beach.

The property is comprised of bright, spacious and modern units – two 1BD / 1 BA and ten studios – all with with open floor plans.  All units have been meticulously remodeled to a high standard, with new windows, wood plank flooring and in-unit washer/dryers. Kitchens offer new custom cabinetry, granite countertops, stainless steel appliances, and breakfast bar seating.

Exposed brick and custom sliding barn doors add to the urban loft aesthetic, and designer lighting and fixtures create modern interiors that appeal to  the urban professional demographic.

Built in 1929, the building features unique Art Deco styling which has been enhanced by the thoughtful paint scheme, custom entryway and landscaping, providing wonderful character and curb appeal, befitting its location.

East Village Arts District is highly popular due to its proximity to employment opportunities and amenities in Downtown Long Beach, as well as its proximity to Alamitos Beach.

601 Linden Avenue presents a new buyer with a beautifully renovated, turnkey asset in a highly desirable Long Beach location.

Investment Highlights

  • Spacious, Modern Studio and One-Bedroom Units
  • High-End, Permitted Renovations of All Units
  • Upgraded Plumbing and Electrical Systems Throughout
  • Exposed Brick and Barndoors Create an Urban Loft Atmosphere*
  • Controlled Access Building in Excellent East Village Arts District Location
  • Potential to Create a Rooftop Deck with Panoramic Views
  • Walk Score of 96, just steps from DTLB shopping, dining and nightlife