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2368 Lime Avenue, Long Beach, CA 90806
14
beds
10
baths
5432
ft2
· 6427
ft2 lot
$2,145,000
$395 / ft2
Listing provided courtesy of Danielle Whitney Moore, Keller Williams Realty.
Source CRMLS.
Check out this aggressively priced cash cow with an actual 6% cap rate and 12.27 GRM on current rents! This two level 6-unit property is turn-key and fully stabilized with 4 three-bedroom, two-bathroom units, and 2 separate one bedroom, one-bathroom units. Each of the three-bedroom units are roomy and spacious with interior laundry and their own one car garage. There is a common area laundry room for the rear one-bedroom units. All of the tenants are Section 8 tenants, making this property recession and moratorium proof, since over 73% of the rent is paid directly by HUD. The price and terms for this building can’t be beat!
HOA
$0/month
On market
1 year
Year built
1930
Property type
Multi-Family
Parking
4
MLS
SB20084703
Price / Sq.Ft.
$395 / ft2
Status
Active
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Based on a price of $2,145,000
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Negotiating Power:
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$10,725
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$8,295
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$8,295
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Property Details
Interior Features & Layout
Appliances
•   
Laundry Details: Inside, See Remarks
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Interior Size
•   
Building Area Total: 5432.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 4.00
Building Info
•   
Building Area Units: Square Feet
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
Lot Info
•   
Zoning: LBR1N
•   
Lot Features: Landscaped, Lawn, Level with Street
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.1475
•   
Lot Size Area: 6427.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 6
Property Features
•   
Common Walls: No Common Walls
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 6
•   
Number Of Separate Gas Meters: 6
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 169595.00
•   
Water Sewer Expense: 0.00
•   
Other Expense Description: Utility
•   
Other Expense: 6900.00
•   
Vacancy Allowance Rate: 3.00
•   
Pest Control Expense: 400.00
•   
Cap Rate: 6.00
•   
Total Actual Rent: 174840.00
•   
Fuel Expense: 0.00
•   
Trash Expense: 0.00
•   
New Taxes Expense: 25740.00
•   
Insurance Expense: 2444.00
•   
Vacancy Allowance: 5245
•   
Professional Management Expense: 4800.00
•   
Total Expenses: 40884.00
•   
Gross Scheduled Income: 174840.00
•   
Tax Block: 2
•   
Operating Expense: 40884.00
•   
Gardener Expense: 600.00
•   
Gross Multiplier: 12.27
Tax/Assessment Info
•   
Gross Income: 174840.00
•   
Tax Year: 2020
•   
Taxes: 16476.0
Lease Info
•   
Net Operating Income: 128711.00
Listing Info
•   
Status: Active
Other
•   
Electric Expense: 0.00
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 3
•   
Unit 3 Actual Rent: 2818.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 1.00
•   
Unit 3 Bathrooms: 2
•   
Unit 3 Total Rent: 2818.00
Unit 2 Information
•   
Unit 2 Actual Rent: 3051.00
•   
Unit 2 Bedrooms: 3
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 2
•   
Unit 2 Garage Spaces: 1.00
•   
Unit 2 Total Rent: 3051.00
Unit 1 Information
•   
Unit 1 Bedrooms: 3
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 1.00
•   
Unit 1 Bathrooms: 2
•   
Unit 1 Actual Rent: 2862.00
•   
Unit 1 Total Rent: 2862.00
Unit 4 Information
•   
Unit 4 Actual Rent: 2804.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 2804.00
•   
Unit 4 Bathrooms: 2
•   
Unit 4 Garage Spaces: 1.00
•   
Unit 4 Bedrooms: 3
Unit 5 Information
•   
Unit 5 Actual Rent: 1614.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 1614.00
•   
Unit 5 Garage Spaces: 0.00
•   
Unit 5 Bathrooms: 1
•   
Unit 5 Bedrooms: 1
Multi Unit Information
•   
# Of Units: 6
•   
Number Of Units Leased: 6
Unit 6 Information
•   
Unit 6 Actual Rent: 1421.00
•   
Unit 6 Total Units: 1
•   
Unit 6 Total Rent: 1421.00
•   
Unit 6 Furnished Units: Unfurnished
•   
Unit 6 Bedrooms: 1
•   
Unit 6 Garage Spaces: 0.00
•   
Unit 6 Bathrooms: 1
School Neighborhood & Directions
Location
•   
Other Subdivision Name: Poly High (PH)
•   
Subdivision: Poly High (PH)
•   
Community Features: Sidewalks, Urban
•   
Directions: Go east on Pacific Coast Highway. Make a left (go north) on Atlantic Avenue. Make a right on E 23rd Street. Make a left on Lime Avenue.
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Calculation
•   
Dom: 77
•   
Cdom: 77
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 17, 2021 1:10pm
Neighborhood snapshot
43
Properties for sale
8
Median days on market
$415.47
Median sold price/sqft
101.53%
Sold/List %
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Property History
07/21/2020
07/21/2020
CRMLS #SB20084703
active
CRMLS #SB20084703
$2,145,000
+0.28%
06/12/2020
06/12/2020
CRMLS #SB20084703
active
CRMLS #SB20084703
$2,139,000
--0.28%
05/05/2020
05/05/2020
CRMLS #SB20084703
active
CRMLS #SB20084703
$2,145,000
+71.60%
06/11/2019
06/11/2019
Public Record
sold
Public Record
$1,250,000
+170.56%
05/22/2003
05/22/2003
Public Record
sold
Public Record
$462,000
+146.40%
See more property history
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