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Multifamily

338 Linden Ave

338 Linden Ave, Long Beach, CA 90802

Listing Price: $5,015,000

Cap Rate
4.71%
Number of Units
17
Price/Unit
$295,000
Price/Gross SF
$551.22
Gross SF
9,098

Investment Overview

Marcus & Millichap is pleased to present to market 338 Linden Avenue, a 17-unit apartment building in Long Beach, California. This offering presents an excellent opportunity to acquire a renovated asset with three brand new ADU’s in a strong coastal market. 338 Linden Avenue is a two-story building with a mix of one studio, 15 one-bed/one-bath units, one two-bed/two-bath unit, controlled access, and shared laundry. The building boasts numerous substantial improvements: three of the one-bedrooms are recently completed ADU additions, nine of the units have been recently remodeled, and a complete re-pipe to copper plumbing. 338 Linden Avenue is located in Downtown Long Beach’s vibrant East Village Arts District within easy walking distance of dining, shopping, and entertainment (WalkScore: 98), two blocks to the Metro Blue Line, and a half-mile to Alamitos Beach. This property is offered for sale along with 1212 and 1216 East 3rd Street, 36 units on two contiguous parcels in Long Beach’s Alamitos Beach neighborhood. Please see page 11 of the OM for combined pricing information and contact listing agent for details.

Investment Highlights

  • 17-Unit Apartment Building With Three Brand New ADU's, Nine Remodeled Units, and Additional Recent Improvements
  • Located in Long Beach's Vibrant East Village Arts District Proximate to Retail, the Metro Blue Line, and Downtown Dining and Entertainment (WalkScore: 98)
  • Mix of One Studio, 15 One-Bed/One-Bath Units, and One Two-Bed/Two-Bath Unit
  • 15 Percent Rental Upside
  • Offered Along With 1212 & 1216 East 3rd Street, 36 Units in Long Beach | Assets Available Separately or Together

Exclusively Listed By

Financing By

Multifamily

338 Linden Ave

Listing Price: $5,015,000

Cap Rate
4.71%
Number of Units
17
Price/Unit
$295,000
Price/Gross SF
$551.22
Gross SF
9,098

Investment Highlights

  • 17-Unit Apartment Building With Three Brand New ADU's, Nine Remodeled Units, and Additional Recent Improvements
  • Located in Long Beach's Vibrant East Village Arts District Proximate to Retail, the Metro Blue Line, and Downtown Dining and Entertainment (WalkScore: 98)
  • Mix of One Studio, 15 One-Bed/One-Bath Units, and One Two-Bed/Two-Bath Unit
  • 15 Percent Rental Upside
  • Offered Along With 1212 & 1216 East 3rd Street, 36 Units in Long Beach | Assets Available Separately or Together

Investment Overview

Marcus & Millichap is pleased to present to market 338 Linden Avenue, a 17-unit apartment building in Long Beach, California. This offering presents an excellent opportunity to acquire a renovated asset with three brand new ADU’s in a strong coastal market. 338 Linden Avenue is a two-story building with a mix of one studio, 15 one-bed/one-bath units, one two-bed/two-bath unit, controlled access, and shared laundry. The building boasts numerous substantial improvements: three of the one-bedrooms are recently completed ADU additions, nine of the units have been recently remodeled, and a complete re-pipe to copper plumbing. 338 Linden Avenue is located in Downtown Long Beach’s vibrant East Village Arts District within easy walking distance of dining, shopping, and entertainment (WalkScore: 98), two blocks to the Metro Blue Line, and a half-mile to Alamitos Beach. This property is offered for sale along with 1212 and 1216 East 3rd Street, 36 units on two contiguous parcels in Long Beach’s Alamitos Beach neighborhood. Please see page 11 of the OM for combined pricing information and contact listing agent for details.

Exclusively Listed By

Financing By

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