627 Linden Avenue, Long Beach, CA 90802
- $2,600,000
- Sold Price
- $2,600,000
- List Price
- $3,100,000
- Closing Date
- Mar 06, 2026
- Status
- CLOSED
- MLS#
- OC26010608
- Year Built
- 1947
- Lot Size
- 7,537
- Acres
- 0.17
- Lot Location
- 21-25 Units/Acre
- Days on Market
- 25
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- Downtown (Dt)
Property Description
The subject property is a 22-unit apartment building located in the trendy “East Village” neighborhood of Long Beach. This charming two story 1940’s complex is on a quiet street, just 6 blocks from the Ocean Avenue, and a 10-minute bike ride to Alamitos Beach! Walk Score: 97/100 (Walker's Paradise) 97 / 100. Walker's Paradise. Transit Score® 74 / 100. Excellent Transit. 89 / 100. Very Bikeable. The unit mix is predominantly Studio apartments (20) with a One Bedroom Unit and a Two Bedroom 1 Bath unit. All units are separately metered for gas and electric utilities. There is a secured entrance with laundry room onsite, and ample street parking. Priced attractively at a GRM of 9.84 and with the rent increases of 8% (AB 1482) that are due this year, the GRM drops to 9.12 and a CAP rate of 6.27% at the listed price. After that rent increase, the rents still have another 20% upside based on the average and median rent rates on the rent survey.
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Additional Information
- Taxes
- $38,564
- Pool Description
- None
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 22
- Gross Scheduled Income
- $311,904
- Operating Expense
- 132039
Listing courtesy of Listing Agent: Dan Carpenter (dan@danluxuryliving.com) from Listing Office: Surterre Properties Inc.
Listing sold by Stephen Lampe from Re/Max Commercial & Investment
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.