
Long Beach, California 90802
This 18-unit multifamily High-Potential Investment Opportunity is listed at a List Price of $3,500,000, positioned slightly above the $3,430,928 Fair Market Value. Despite the premium, the asset offers a clear path to value creation through RUBS implementation and market rent adjustments, targeting a 7.17% cap rate. With a Condition Rating of 2 and $275,000 in recent capital improvements, the property is a stabilized, low-maintenance asset. This is an ideal acquisition for Buy-and-Hold Investors or Multifamily Portfolio Managers seeking immediate cash flow in a supply-constrained, high-walkability urban submarket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 235 Linden Subject | $3,500,000* List Price | 0 | 0 | 9,029 | $380 | - |
A 445 E 3rd Active | $4,400,000 List Price | 0 | 0 | 12,150 | $362 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1913, the property has undergone $275,000 in recent capital improvements including a new roof and fully renovated interiors. Units feature modern kitchens with stainless steel appliances, shaker-style cabinetry, updated flooring, and keyless entry, qualifying it as a stabilized, low-maintenance asset with no immediate renovation needs.
Boasting a 98 Walk Score and 91 Bike Score in the East Village Arts District, the property is perfectly positioned in a supply-constrained submarket with high renter demand and immediate access to transit and lifestyle amenities.
With approximately $275,000 recently invested in capital improvements including roof upgrades, keyless entry, and fully renovated interiors, the asset offers a stabilized, low-maintenance investment with minimal near-term CapEx requirements.
The property features a clear path to yield expansion, with the potential to increase the cap rate from 6.00% to 7.17% through the implementation of RUBS and the achievement of market rents, representing a nearly 20% increase in cash flow.
Originally constructed in 1913, the building's age may present long-term maintenance challenges or future requirements for seismic retrofitting and system upgrades common to century-old structures despite recent cosmetic renovations.
The property is served by a high school with a low rating of 3, which may limit the long-term appeal for certain tenant demographics, although the studio and one-bedroom unit mix primarily targets single professionals and couples.
235–237 Linden Avenue is an 18-unit multifamily asset located in Long Beach's East Village Arts District, a walkable, supply-constrained Downtown submarket supported by strong renter demand and proximity to employment, transit, and lifestyle amenities. The property features nine (9) studios and nine (9) one-bedroom/ one-bath units, an efficient unit mix aligned with market demand. Originally constructed in 1913, the building retains its historic exterior while offering fully renovated interiors throughout. Ownership has invested approximately $275,000 in capital improvements, including roof upgrades, renovated units, keyless entry, and exterior improvements. As a result, the property offers a stabilized, low-maintenance investment with minimal near-term capital needs. The property boasts a 98 Walk Score and 91 Bike Score, placing residents within walking distance of Downtown Long Beach's restaurants, retail, and entertainment. The East Village Arts District continues to benefit from stable occupancy and rental demand driven by its vibrant local business community and convenient access to the broader Downtown employment base. 235–237 Linden Avenue offers a clear path to value creation, currently priced at a 6.00% cap rate and 9.85 GRM with meaningful room to grow. Through the implementation of RUBS and the achievement of market rents, an investor can push the property to a 7.17% cap rate and 8.76 GRM—a 117-basis-point expansion in yield and more than a full point of GRM compression. This equates to $40,908 of additional annual NOI, a nearly 20% increase in cash flow with no change in basis.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 1.0 |
| Square foot | 9,029 | 3,749.222 |
| Lot Size | 7,519 | 5,654.444 |
| Price | $3.50M | $1.44M |
| Price per sq ft | $388 | $381 |
| Built year | 1913 | 1928 |
| HOA | $0 | $0 |
| Days on market | 34 | 92 |
Aug 6, 2026
$3,500,000
Initial Listing
Jun 5, 2019
$3,560,000
Public Record
Jun 4, 2014
$2,720,000
Public Record
May 17, 2013
$1,600,000
Public Record
Jul 2, 2007
$1,800,000
Public Record
Sep 17, 2003
$1,135,000
Public Record
Jul 17, 1998
$410,000
Public Record
Nov 26, 1997
$205,000
Public Record