Description
235-237 Linden Avenue is an 18-unit multifamily asset located in Long Beach's East Village Arts District, a walkable, supply-constrained Downtown submarket supported by strong renter demand and proximity to employment, transit, and lifestyle amenities. The property features nine (9) studios and nine (9) one-bedroom/ one-bath units, an efficient unit mix aligned with market demand. Originally constructed in 1913, the building retains its historic exterior while offering fully renovated interiors throughout. Ownership has invested approximately $275,000 in capital improvements, including roof upgrades, renovated units, keyless entry, and exterior improvements. As a result, the property offers a stabilized, low-maintenance investment with minimal near-term capital needs. The property boasts a 98 Walk Score and 91 Bike Score, placing residents within walking distance of Downtown Long Beach's restaurants, retail, and entertainment. The East Village Arts District continues to benefit from stable occupancy and rental demand driven by its vibrant local business community and convenient access to the broader Downtown employment base. 235-237 Linden Avenue offers a clear path to value creation, currently priced at a 6.00% cap rate and 9.85 GRM with meaningful room to grow. Through the implementation of RUBS and the achievement of market rents, an investor can push the property to a 7.17% cap rate and 8.76 GRM-a 117-basis-point expansion in yield and more than a full point of GRM compression. This equates to $40,908 of additional annual NOI, a nearly 20% increase in cash flow with no change in basis.
Details
| MLS # | PW26169871 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1913 |
| Days On Site | 100 |
| Listing Provided By | Keller Williams Realty Downey | Robert Stepp |
Features
| SQ Feet | 9,029 |
|---|---|
| Story(s) | 2 |
| Units | 18 |
| Building(s) | 2 |
| Acreage | 0.17 |
Exterior
| Lot Features | Sixteen To Twenty Units Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Alamitos Beach (AB) |
| Listing VS Median (in Alamitos Beach (AB)) | |
Price: $3,500,000 low | high Med: $1,599,000 sqft: 9,029 low | high Med: 3,508 $ / sqft: $388 low | high Med: $456 On site: 100 low | high Med: 53 | |
Market Activity 90802
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Alamitos Beach (AB) |
| Listing VS Median (in Alamitos Beach (AB)) | |
Price: $3,500,000 low | high Med: $1,599,000 sqft: 9,029 low | high Med: 3,508 $ / sqft: $388 low | high Med: $456 On site: 100 low | high Med: 53 | |
 | $3,850,000154 Elm AvenueLong Beach, CA 90802 |
 | $3,850,000154 Elm AvenueLong Beach, CA 90802 |