MarketPier

240 Linden Avenue - Long Beach, CA 90802

$1,375,000
Listing Description

240 Linden Avenue, an eight-unit* apartment building in Long Beach, California. The property is well-located in downtown Long Beach's vibrant East Village Arts District conveniently near numerous dining, shopping and retail opportunities. 240 Linden Avenue is located within an Opportunity Zone, which may offer a new investor significant tax benefits; for more detail, please contact the listing agent. Additionally, this area of Long Beach has a 1:1 parking requirement, whereas most of Long Beach is 2:1. 13; 240 Linden Avenue offers eight units, including three studios, one one-bed/one-bath, two two-bed/two-bath units. Four of the units are non-conforming. Unit features include granite countertops, tile flooring, wall heaters, and A/C units. The property also features on-site laundry, a two-car garage, and three new water heaters. 13; This property presents an excellent opportunity for an investor to acquire an asset well-located in a strong rental market and capture substantial potential upside in rents. 13; 13; Please request and review a copy of the Offering Memorandum for this property for a detailed explanation and description of this investment and its underwriting.

Listing Information
MLS Number
PW19007725
APN/Parcel ID
7281015028
Type
Multifamily
Sub Type
Multifamily
Building Size
3,390 sqft
Lot Size
3,757 sqft
Price / SQFT
$406
No Units
8
Price / Unit
$171,875
Gross Scheduled Income
$104,100
Expenses
$38,704
Total Expenses
$38,704
Net Income
$63,473
Listing Date
1/10/2019
Days Active
5
Last Updated
1/16/2019
Listing Provided By
Steven Bogoyevac
Steven M. Bogoyevac, Broker
BRE# 01332755

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