Seller's Agent in 2023
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
2 in this area
91 Total Sales
227 Lime Ave Long Beach, CA 90802
East Village Neighborhood
5
Beds
10
Baths
3,424
Sq Ft
3,750
Sq Ft Lot
About This Home
As of July 202311 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long
Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.
Last Agent to Sell the Property
Buckingham Investments, Inc License #01908153 Listed on: 03/03/2023
Last Buyer's Agent
Sam Alherech
Buckingham Investments, Inc License #02148135
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 3,750 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Home Design
- Apartment
Interior Spaces
- 3,424 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 10 Bathrooms
Parking
- 2 Open Parking Spaces
- 2 Parking Spaces
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 15 / 94
- Tax Tract Number 576
- Assessor Parcel Number 7281014010
- $2,020 per year additional tax assessments
Community Details
Overview
- 11 Units
Building Details
- Rent Control
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,724
- Fuel Expense $1,724
- Gardener Expense $600
- Insurance Expense $4,400
- Maintenance Expense $9,645
- Pest Control $1,000
- Professional Management Expense $9,645
- Trash Expense $1,724
- Water Sewer Expense $1,724
- New Taxes Expense $33,125
- Operating Expense $65,712
- Gross Income $200,208
- Net Operating Income $127,186
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/21/2023 07/21/23 | Sold | $2,500,000 | -5.7% | $730 / Sq Ft |
| 04/03/2023 04/03/23 | Pending | -- | -- | -- |
| 03/03/2023 03/03/23 | For Sale | $2,650,000 | -- | $774 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $33,195 | $2,550,000 | $1,683,000 | $867,000 |
| 2024 | $33,195 | $2,500,000 | $1,650,000 | $850,000 |
| 2023 | $29,397 | $2,193,000 | $1,428,000 | $765,000 |
| 2022 | $5,110 | $259,227 | $85,438 | $173,789 |
| 2021 | $4,858 | $254,145 | $83,763 | $170,382 |
| 2019 | $4,769 | $247,209 | $81,280 | $165,929 |
| 2018 | $4,616 | $242,375 | $79,687 | $162,688 |
| 2016 | $4,271 | $232,389 | $76,594 | $155,795 |
| 2015 | $4,130 | $228,899 | $75,444 | $153,455 |
| 2014 | $4,151 | $224,417 | $73,967 | $150,450 |
Source: Public Records
Agents Affiliated with this Home
-
Anthony Walker
-
Josh Ess
Seller Co-Listing Agent in 2023
Josh Ess
Buckingham Investments, Inc
(310) 982-7055
1 in this area
38 Total Sales
-
S
Buyer's Agent in 2023
Sam Alherech
Buckingham Investments, Inc
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB23036205
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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