16-Unit Apartment
For Sale
$4,250,000
237 Lime Ave # 9, Long Beach, CA 90802
A mix of two- and three-bedroom apartments offers several residential layouts.
Property Size14,477 SF
Price / SF$293.57
Days on Market11
Property Features for 237 Lime Ave # 9
General Information
Standard status
Active
Size
14,477 SF
Property subtype
Income
Site & Location
Neighborhood
East Village
Units
Unit Mix
12 x 2BR/1BA, 2 x 3BR/2BA, 2 x 3BR/1.5BA
Multifamily Units
16
Building Details
Year Built
1965
Buildings
1
Listing Agency:
RJ Real Estate Investments, Inc
Listed By:
Roy Yoo
(213) 787-4397
Source:
Forwardinglewood
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 2:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RJ Real Estate Investments, Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 16-unit apartment property contains 14,477 square feet and was built in 1965. Its residences include twelve two-bedroom, one-bathroom units, two three-bedroom, two-bathroom units, and two three-bedroom units with one and a half bathrooms.
The building is in the Alamitos Beach and Downtown Long Beach area of Long Beach, California.
The building is in the Alamitos Beach and Downtown Long Beach area of Long Beach, California.
Key Highlights
- 16 apartments in a 14,477‑square‑foot building
- Unit mix: twelve 2‑bedroom, 1‑bathroom apartments; two 3‑bedroom, 2‑bathroom apartments; two 3‑bedroom, 1.5‑bathroom apartments
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$276,851
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,537,020
$5.5M
Cap Rate 7%
$3,955,014
$4.0M
Cap Rate 9%
$3,076,122
$3.1M
Market Conditions
NOI Build-Up for 14,477 SF
Gross rent
$529.9K $36.60/SF
− Vacancy
−$26.5K −$1.83/SF
EGI
$503.4K $34.77/SF
− OpEx
−$226.5K −$15.65/SF
NOI
$276.9K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,537,020
Cap Rate 7%
$3,955,014
Cap Rate 9%
$3,076,122
Alternative Uses
Best Use
Apartment 5plus
$3.96M
$3.46M – $4.61M
NOI $276,851 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.75M
$6.78M – $9.04M
NOI $542,565 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
4,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A mix of two- and three-bedroom apartments offers several residential layouts.
Where is this apartment building located?
The property is located at 237 Lime Ave # 9 Long Beach, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 16 apartments in a 14,477‑square‑foot building; Unit mix: twelve 2‑bedroom, 1‑bathroom apartments; two 3‑bedroom, 2‑bathroom apartments; two 3‑bedroom, 1.5‑bathroom apartments; Built in 1965
