About 728 Lime Ave
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.
Features of 728 Lime Ave
| MLS® # | SB26112026 |
|---|---|
| Price | $1,495,000 |
| Sold Price | $1,605,000 |
| Bedrooms | 14 |
| Bathrooms | 7.00 |
| Lot Sqft | 7,501 |
| Acres | 0.17 |
| Year Built | 1912 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Closed |
| # Of Units | 6 |
Community Information
| Address | 728 Lime Ave |
|---|---|
| Area | 4 - Downtown Area, Alamitos Beach |
| Subdivision | Downtown (DT) |
| City | Long Beach |
| County | Los Angeles |
| Zip Code | 90813 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Parking Spaces | 2 |
| Parking | Paved |
| Garages | Paved |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Cooling | None |
|---|---|
| Has Basement | No |
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Exterior | Stucco |
|---|---|
| Lot Description | Rectangular Lot |
| Roof | Composition, Flat |
| Construction | Stucco |
| Foundation | Slab, Raised |
Additional Information
| Date Listed | September 11th, 2025 |
|---|---|
| Date Sold | April 29th, 2026 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Anthony Walker |
|---|---|
| Office | Buckingham Investments, Inc |