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Mark Piga

mark@markpigahomes.com +1(858) 367-0068

$ 2,000,000

Est. payment | -/mo

6,534 Sqft Lot

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$ 2,000,000

Est. payment | -/mo

Save

6,534 Sqft Lot

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26200969

HOA Y/N No

Year Built 1924

Lot Size 6,534 Sqft

Property Sub-Type Apartment

Property Description

1035 Lime Avenue is a 10-unit multifamily investment property located in Long Beach, California. Built in 1924 and situated on a 0.15-acre lot, 1035 Lime Avenue features a unit mix of 2 studios, 6 1-bed/1-bath units and 2 2-bed/1-bath units totaling approximately 6,384 square feet of net rentable area. The gated property offers a central courtyard, an on-site laundry facility and 5 garage parking spaces. The laundry facility provides existing ancillary income, while the garage parking offers additional flexibility as a separate revenue source or tenant amenity. Current ownership has completed substantial improvements to both the building systems and individual units. Work includes new copper plumbing, updated electrical systems and all-new kitchens and bathrooms throughout the property. Most units have undergone extensive renovations, with much of the interior work involving down-to-the-studs improvements. These upgrades provide a strong physical foundation and reduce the need for an incoming owner to undertake a significant renovation program. 1035 Lime Avenue is located near the East Village Arts District and Downtown Long Beach, placing residents close to an established mix of restaurants, retail, entertainment and cultural destinations. The property is also within convenient reach of the Long Beach waterfront, including the marina, shoreline recreation, dining and other coastal amenities. With substantial capital and interior improvements already completed, 1035 Lime Avenue offers an investor the opportunity to acquire an improved multifamily asset in a central Long Beach location. Its diverse unit mix, gated setting, garage parking, ancillary income sources and proximity to Downtown, East Village and the waterfront support the property's long-term appeal to renters.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks

Total Parking Spaces 5

Private Pool No

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7274013022

Energy Description 4208.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(858) 367-0068

mark@markpigahomes.com

1035 Lime AVE Long Beach, CA 90813

Mark Piga

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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1035 Lime AVE