633 Linden Avenue

633 Linden Avenue, Long Beach, CA 90802

Sale Price

$2,195,000

Investment Overview

Units

6

Year Built

1912

Price Per SF

$637

Price Per Unit

$365,833

Current Cap Rate

4.38%

Market Cap Rate

4.87%

Current GRM

14.62

Market GRM

13.54

The Offering

633 Linden Avenue is a six-unit investment asset well-located in the highly desirable East Village Arts District neighborhood of Downtown Long Beach.

The property is comprised of all Craftsman bungalow-style units with a favorable mix of two 3 BD/2 BA units, two 2 BD/1 BA units and two 1BD/1 BA units. Five of the six units feature sizable private front yards with new outdoor hardscaping and fencing.

All the units have been renovated with modern fixtures and finishes, including Including: New Cabinetry, Countertops, Flooring, Ceiling Fans, Bathtubs and Vanities. On site laundry is available and can provide additional income for a new buyer.

With a Walk Score of 96, the property is in prime East Village Arts District, offering walkability to myriad of employment opportunities as well as
all of the shopping, dining, cultural and nightlife amenities in Downtown Long Beach.

633 Linden Avenue provides a new buyer with 6.56% cash-on-cash return with a 65% LTV, 3.25% Interest-Only loan.

Investment Highlights

  • Bungalow-Style Units; 5 of 6 Units with Private Front Yards
  • All Units Renovated with Modern Fixtures & Finishes
  • Potential Laundry Income for New Buyer
  • Prime East Village Arts District – 96 Walk Score
  • 6.56% Cash-on-Cash Return
  • 65% LTV at 3.25% Interest-Only Loan