636 Linden Avenue is a 20-unit apartment asset located in vibrant East Village Arts District, Downtown Long Beach. The asset is priced at just $167,500 per unit, 9.71 GRM and 6.16% cap rate at current rents. The property is comprised of all studio units, with 17 of the 20 units fully renovated with new flooring and upgraded kitchens and baths. The secured-access building features upgraded electrical panels and plumbing, as well as separately metered utilities. With a Walk Score of 92 and Bike Score of 91, the property is conveniently located adjacent to East Village Arts District, Downtown Long Beach, Shoreline Village, and the beach/bike path.
Property Features
Appliances
- Laundry Features: Common Area
Bathrooms
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: 16-20 Units/Acre
- Lot Size Acres: 0.1727
- Lot Size Source: Assessor
- Lot Size Square Feet: 7522
Rental Info
- Gross Income: 334491
- Gross Scheduled Income: 344836
- Rent Control: Yes
Multi-Unit Info
- Number of Units: 20
- Bedrooms in Unit-1: 0
- Total Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-1: 1
- Unit-1 Furnished Description: Unfurnished
- Unit 1 Total Actual Rent: 1401
Homeowners Association
- Gardener Expense: 1085
- Maintenance Expense: 14000
Amenities and Community Features
- Community Features: Sidewalks
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 6.16
- Other Expense: 6000
- Source Property Type: Residential Income
- Insurance Expense: 20000
- Area: 4 - Downtown Area, Alamitos Beach
- Source Neighborhood: Downtown (DT)
- New Taxes Expense: 44662
- Number of Separate Electric Meters: 20
- Number of Separate Gas Meters: 20
- Number of Separate Water Meters: 20
- Parcel Number: 7274018010
- Pest Control Expense: 1200
- Professional Management Expense: 16725
- Subdivision: Downtown (DT)
- Trash Expense: 2315
- Zoning: LBPD30
- Property Subtype: Apartment
Commercial Info
- Net Operating Income: 206507
- Operating Expense: 127984
Building and Construction
- Year Built: 1939
- Building Features: 1
- Common Walls: 2+ Common Walls
- Entry Level: 1
- Entry Location: 1
- Property Age: 87
- Property Attached: Yes
- Building Total Stories: 2
- Elevation Units: Feet
- Year Built Source: Assessor
Utilities
- Electric Expense: 2316
- Sewer: Public Sewer
- Water Source: Public