Long Beach Multifamily Income
241 Lindero Ave Long Beach, CA 90803
241 Lindero Ave, Long Beach, CA, 90803
$1,800,000
For Sale
$1,800,000
Fourplex near the beach with strong rental demand.
Property Size4,032 SF
Lot Size0.14 Acres
Price / SF$446.43
Days on Market98
Property Features for 241 Lindero Ave
General Information
- Standard status
- Active
- Size
- 4,032 SF
- Lot size
- 0.14 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1969
Listing Agency
First Team Real Estate
(714) 865-3035
Listed by
Jon Perez · License #01405984
Source
Elliman
Added: Apr 10 Checked: Jul 16 at 9:21 am
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 First Team Real Estate
Investment Insights
Based on property information with market context.
Located in the Belmont Heights / Bluff Heights area of Long Beach, this fourplex offers an investment opportunity in a coastal multifamily asset. The property is approximately 0.3 miles to the beach and near Belmont Shore and Shoreline Village. Built in 1969, the property includes approximately 4,032 square feet of living space on a 6,109 square foot lot. The unit mix consists of one 3-bedroom, 2-bath unit and three 2-bedroom, 1-bath units, spread across two levels. One unit is currently vacant, offering flexibility for owner-occupancy or leasing. One of the units has been recently updated with a new kitchen, flooring, and bathroom. Recent improvements include a roof replacement completed within the past few years. The property is also scheduled for termite clearance and exterior painting. The rear of the property features two 2-car garages, with each unit assigned one garage space, plus an additional dedicated parking space for the 3-bedroom unit, totaling five parking spaces. The property is performing at approximately a 4.8% cap rate, with the ability to increase to roughly 6%+ once the vacant unit is leased at market rent.
Key Highlights
- Prime location in the highly desirable Belmont Heights/Bluff Heights area, just off Broadway and approximately 0.3 miles to the beach.
- Strong income property with a current cap rate of approximately 4.8%, with the ability to increase to roughly 6%+ once the vacant unit is leased.
- Well‑maintained fourplex with a desirable unit mix: one 3‑bedroom, 2‑bath unit and three 2‑bedroom, 1‑bath units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.6k | $32.40 |
| − Vacancy | −$6.8k | −$1.68 |
| EGI | $123.8k | $30.72 |
| − OpEx | −$37.2k | −$9.21 |
| NOI | $86.7k | $21.50 |
4,032 SF · lease $32.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.44M
NOI $86,691 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$1.10M
$963.8K – $1.29M
NOI $77,106 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,110 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fourplex near the beach with strong rental demand.
Where is this quadplex located?
The property is located at 241 Lindero Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location in the highly desirable Belmont Heights/Bluff Heights area, just off Broadway and approximately 0.3 miles to the beach.; Strong income property with a current cap rate of approximately 4.8%, with the ability to increase to roughly 6%+ once the vacant unit is leased.; Well‑maintained fourplex with a desirable unit mix: one 3‑bedroom, 2‑bath unit and three 2‑bedroom, 1‑bath units.
