728 Lime Ave, Long Beach, CA 90813
- $1,605,000
- Sold Price
- $1,605,000
- List Price
- $1,495,000
- Closing Date
- Apr 29, 2026
- Status
- CLOSED
- MLS#
- SB26112026
- Year Built
- 1912
- Lot Size
- 7,501
- Acres
- 0.17
- Lot Location
- Rectangular Lot
- Days on Market
- 230
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- Downtown (Dt)
Property Description
Huge 6 unit campus property with three large units in front, Craftsman bungalow in the middle, and two brand new 2025 construction ADUs in the rear totalling 5707 rentable square feet on a 7500 square foot lot. Great unit mix averaging 950 square feet with one 5 bed, 2 bath unit, four 2 bed, 1 bath units, and one 1 bed, 1 bath unit. Aggressively priced at $262/square foot, 9.8X GRM and 6.2% cap rate on actual rents plus an 8% upside to 9X GRM and 6.9% cap rate on market rents. Brand new electrical main panel. Skip the smaller properties and go straight to commercial positive leverage with rates in the high 5%'s and a 6.2% cap rate on actual rents. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 7 blocks to the beach.
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Additional Information
- Pool Description
- None
- Cooling Description
- None
- Exterior Construction
- Stucco
- Roof
- Composition, Flat
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $152,016
- Operating Expense
- 52774
Listing courtesy of Listing Agent: Anthony Walker (Anthony.walker@buckinghaminvestments.com) from Listing Office: Buckingham Investments, Inc.
Listing sold by Ceylan Tecimer from Beverly & Company Luxury Properties
Mortgage Calculator
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.