For Sale
$1,710,000

1403 Lemon AveLong Beach, CA 90803

Five-unit apartment building, value-add opportunity.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional five-unit apartment building presents a compelling value-add investment opportunity in the heart of Long Beach, California. Located at 1403 Lemon Ave, in the 90803 zip code, this 2-story, 1924-built property boasts a total of 2,700 square feet situated on a 6,553 square foot lot. The property currently enjoys 100% occupancy, generating a strong Net Operating Income (NOI) of $72,985.50, resulting in a 4.27% cap rate. The asking price is $1,710,000, translating to $342,000 per unit. The unit mix includes one four-bedroom, two-bathroom detached house

Highlights

  • Two driveway parking spaces.
  • Four garages offering additional income potential.
  • Value-add investment opportunity.
  • Prime Long Beach location between E. New York and E. Anaheim.

Property Details for 1403 Lemon Ave

Property type
Apartment buildings
Square Feet
2,700 SF
Year Built
1924
Stories
2
Units
5

Location Insight

City
Long Beach
County
Los Angeles
State
California
Latitude
33.78395358
Longitude
-118.17904271
1403 Lemon Ave, Long Beach, California

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Contacts

Chuck Iverson
Chuck Iverson

Learn more

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1403 Lemon Ave, Long Beach, California, 90803

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

1403 Lemon Ave
  • Chuck Iverson
    Chuck Iverson
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