34
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$3,500,000
Est. payment /mo
7,518 Sqft Lot
New
235 Linden Long Beach, CA 90802
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Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26169871
HOA Y/N No
Year Built 1913
Lot Size 7,518 Sqft
Property Sub-Type Mixed Use
Property 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.
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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7281016008
Energy Description 8858.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379
NEARBY SCHOOL & BUSINESS
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