1403 Lemon Ave Long Beach, CA 90813
Property Features for 1403 Lemon Ave
General Information
- Property type
- Investment
- Standard status
- Active
- Lot size
- 0.15 Acres
Building Details
- Year built
- 1924
Source:
Elliman
Listing Agent: Milla Pariser
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Long Beach Multifamily Investment Opportunity
Located in Long Beach, California, 1403 Lemon Avenue is a five-unit multifamily property situated on a 6,519 square foot lot. The property has a combined living area of approximately 2,700 square feet and is currently 100% occupied. The unit mix includes one detached 4-bedroom, 2-bath front house, one 4-bedroom, 1-bath unit, and three 2-bedroom, 1-bath units. The property delivers an 8.76% cap rate. There is potential for rental increases over time. The property includes four garages and two uncovered driveway parking spaces. The garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. The property is located near downtown Long Beach.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.1793092
- Latitude
- 33.7839601
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Five-unit income property in Long Beach with strong cash flow.
Where is this apartment building located?
The property is located at 1403 Lemon Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: - High 8.76% Cap Rate: A rare find in Southern California, providing a strong return on investment.; - 100% Occupancy: Ensures immediate and reliable cash flow.; - Unit Mix: Includes a detached 4-bedroom house, a 4-bedroom unit, and three 2-bedroom units.
