227 Lime · Long Beach, CA 90802

$1,800,000

5 bd · 10.0 ba · 3,424 sqft · MultiFamily public records · 43 Days on market

Built 1923 3,750 sqft lot $526/sqft · 36% above area Est $1320k · 36% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Priced to sell at only $163k per door. This 11-unit building is located in the East Village Arts District of Long Beach. Priced with very high in-place cash flow at close with actual rents resulting in an 9.52X GRM and 6.8% cap rate. Low maintenance building with very little gardening required. This property is located only 3 blocks from the beach and within walking distance to shopping centers, medical facilities, grocery stores, and dining. Don't miss out on this incredible opportunity! Offering memorandum in supplemental materials. One unit is currently vacant.

Key facts

• 11 unit building
• 3,750 sq ft lot
• 2 parking spots

Tags

• 11 UNIT BUILDING
• EAST VILLAGE ARTS DISTRICT
• 3 BLOCKS FROM THE BEACH
• WALKING DISTANCE TO DINING

What this means for you Summary

Snapshot

• This is a 5×5bd/1ba + 6×6bd/1ba units multifamily listed at $1.80M.

Deal economics

• At list price, monthly cash flow is $9k ($111k/yr) — positive. Per door: $839/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($28k rent vs $1.80M).
• Recommended offer: $1.75M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 207 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $28,234/mo this rent would consume 455% of the median local household income ($75k/yr) (locally 4689% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $54k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $504k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($1.75M) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,746,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.57% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 5.3

CMA / ARV

• ARV (median comp): $1,320,260
• List price: $1,800,000
• Delta: 36.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
958 E 2nd St	0.21mi	4/4.0 (-1)	3,296 (-4%)	10mo	$1,595,000	$484	56
1050 E Hellman St	0.58mi	6/6.0 (+1)	3,542 (+3%)	0mo	$1,425,000	$402	47
260 Cerritos Ave	0.33mi	4/4.0 (-1)	3,320 (-3%)	16mo	$1,225,000	$369	46
1169 E Broadway	0.41mi	4/4.0 (-1)	3,544 (+4%)	16mo	$1,100,000	$310	42
126 Orange Ave	0.45mi	4/4.0 (-1)	3,344 (-2%)	23mo	$1,175,000	$351	36
484 Almond Ave	0.59mi	6/4.0 (+1)	3,154 (-8%)	15mo	$1,145,000	$363	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.49×
• Total profit: $244,807
• Equity at exit: $268,386

10-year hold

• IRR: 19.9%
• Equity multiple: 2.52×
• Total profit: $767,985
• Equity at exit: $155,631

Cash invested: $504,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90802

• Home prices YoY: -26.1%
• Rents YoY: 1.1%
• Active inventory: 207
• Price-to-rent: 58.4×

Monthly cashflow live

• Estimated rent: $28,234 medium
• Mortgage (P&I): −$9,439
• Tax from tax record: −$2,890 /mo · $34,686/yr
• Insurance: −$750
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,929
• Net cashflow: $9,225

Break-even live

Break-even rent $16,557

Max offer price $1,800,000

Occupancy floor 62%

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	5	1	$12,835
▸ 6× units	6	1	$15,402
Total (11 units)			$28,234

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $450,000
• Closing costs: $54,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1724 Bluff Pl Long Beach, CA	4.0	3.5	3100	$16,500	$5.32	43d	1	0.81mi

Listing history 50 events

1. 2026-06-18
   days on market $1,800,000 Active 43 DOM
2. 2026-06-17
   days on market $1,800,000 Active 42 DOM
3. 2026-06-16
   days on market $1,800,000 Active 41 DOM
4. 2026-06-15
   days on market $1,800,000 Active 40 DOM
5. 2026-06-13
   days on market $1,800,000 Active 38 DOM
6. 2026-06-13
   days on market $1,800,000 Active 37 DOM
7. 2026-06-09
   days on market $1,800,000 Active 34 DOM
8. 2026-06-08
   days on market $1,800,000 Active 33 DOM
9. 2026-06-07
   days on market $1,800,000 Active 32 DOM
10. 2026-06-04
    days on market $1,800,000 Active 29 DOM
11. 2026-06-03
    days on market $1,800,000 Active 28 DOM
12. 2026-06-02
    days on market $1,800,000 Active 27 DOM
13. 2026-06-01
    days on market $1,800,000 Active 26 DOM
14. 2026-05-31
    days on market $1,800,000 Active 25 DOM
15. 2026-05-06
    listed $1,800,000 Active 570-char remark

    Show marketing remark (570 chars)

    Priced to sell at only $163k per door. This 11-unit building is located in the East Village Arts District of Long Beach. Priced with very high in-place cash flow at close with actual rents resulting in an 9.52X GRM and 6.8% cap rate. Low maintenance building with very little gardening required. This property is located only 3 blocks from the beach and within walking distance to shopping centers, medical facilities, grocery stores, and dining. Don't miss out on this incredible opportunity! Offering memorandum in supplemental materials. One unit is currently vacant.

16. 2024-01-27
    historical $2,006
17. 2024-01-20
    listed $2,006
18. 2024-01-12
    historical $1,495
19. 2024-01-12
    historical $1,495
20. 2024-01-11
    listed $1,495
21. 2024-01-11
    listed $1,800
22. 2024-01-02
    historical $1,800
23. 2024-01-02
    historical $1,800
24. 2024-01-02
    listed $1,800
25. 2024-01-02
    listed $1,800
26. 2023-12-29
    historical $1,800
27. 2023-12-29
    historical $1,800
28. 2023-12-28
    listed $1,800
29. 2023-12-22
    price $1,550
30. 2023-11-28
    listed $1,595
31. 2023-07-21
    soldstatus $2,500,000 Closed Sale 996-char remark

    Show marketing remark (996 chars)

    11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.

32. 2023-07-21
    soldstatus $2,500,000

    Show marketing remark (996 chars)

    11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.

33. 2023-07-06
    status Pending Sale 996-char remark

    Show marketing remark (996 chars)

    11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.

34. 2023-04-24
    historical Active Under Contract 996-char remark

    Show marketing remark (996 chars)

    11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.

35. 2023-03-03
    listed $2,650,000 Active 996-char remark

    Show marketing remark (996 chars)

    11 units in the heart of the East Village Arts District priced at only $240k per door. High yield property for this area at an actual GRM of 13.06 and in place cap rate of 4.8% with an upside to a market GRM of 12. Market cap rate of 5.4% less than three blocks to the beach in a coastal walkable Downtown location. Unit mix comprised of 5 studios and 6 one-bedroom units (1 non-conforming). 7 out of 11 units fully upgraded including new kitchens, bathrooms, vinyl floors, paint, and lighting. Just completed exterior refresh and paint job. 2 parking spaces behind the building with enough space to replace with 1 ADU. Located less than 3 blocks to the beach in the East Village Arts District, one of the trendiest neighborhoods in Long Beach. In close proximity to billions of dollars in new development including Shoreline Gateway, Long Beach's new tallest building. Tenants can enjoy cafes, galleries, bars, restaurants, the Long Beach Art Walk, and much more only steps from the front door.

36. 2022-08-15
    historical
37. 2022-07-14
    listed $2,550,000 Active
38. 2022-04-20
    soldstatus $2,150,000
39. 2019-09-11
    historical
40. 2019-09-11
    historical
41. 2018-09-11
    listed $2,400,000 Active
42. 2018-09-11
    listed $2,400,000
43. 2018-05-01
    historical
44. 2018-05-01
    historical
45. 2018-03-13
    price $1,800,000
46. 2018-02-16
    listed $1,800,000
47. 2018-02-16
    listed $2,000,000 Active
48. 2015-11-03
    historical
49. 2015-11-02
    historical
50. 2015-09-11
    listed $3,375,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $34,686 · $2,890/mo
• Projected year-2 tax: $34,686 · $2,890/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $338,808
• − Mortgage interest: −$100,828
• − Property taxes: −$34,686
• − Insurance: −$9,000
• − Repairs & maintenance: −$27,105
• − Management: −$27,105
• − Depreciation: −$52,364
• Taxable income: $87,721
• Est. tax owed @ 24.0%: −$21,053
• After-tax cash flow: $89,647/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 40,434
• Household income: $74,510
• Rent vs Own: 79.0% rent · 21.0% own
• Severe rent burden: 4689.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 37% White 32% Black 15% Two or more races 14% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 27% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Estonian 2%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 27% Other Indo-European 3% Tagalog/Filipino 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.40%
• Current HPI: 380.7305
• Rent YoY: ▲ 1.14%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+666.0% since first listed

47 events — show timeline

• 2026-05-06 Listed $1,800,000 CRMLS
• 2024-01-27 Rental Removed $2,006 APPFOLIO
• 2024-01-20 Listed for Rent $2,006 APPFOLIO
• 2024-01-12 Rental Removed $1,495 APPFOLIO
• 2024-01-12 Rental Removed $1,495 APPFOLIO
• 2024-01-11 Listed for Rent $1,495 APPFOLIO
• 2024-01-11 Listed for Rent $1,800 APPFOLIO
• 2024-01-02 Rental Removed $1,800 APPFOLIO
• 2024-01-02 Rental Removed $1,800 APPFOLIO
• 2024-01-02 Listed for Rent $1,800 APPFOLIO
• 2024-01-02 Listed for Rent $1,800 APPFOLIO
• 2023-12-29 Rental Removed $1,800 APPFOLIO
• 2023-12-29 Rental Removed $1,800 APPFOLIO
• 2023-12-28 Listed for Rent $1,800 APPFOLIO
• 2023-12-22 Price Changed $1,550 APPFOLIO
• 2023-11-28 Listed for Rent $1,595 APPFOLIO
• 2023-07-21 Sold (Public Records) $2,500,000 Public Records
• 2023-07-21 Sold (MLS) $2,500,000 CRMLS
• 2023-07-06 Pending — CRMLS
• 2023-04-24 Contingent — CRMLS
• 2023-03-03 Listed $2,650,000 CRMLS
• 2022-08-15 Listing Removed — CRMLS
• 2022-07-14 Listed $2,550,000 CRMLS
• 2022-04-20 Sold (Public Records) $2,150,000 Public Records
• 2019-09-11 Listing Removed — SDMLS
• 2019-09-11 Listing Removed — CRMLS
• 2018-09-11 Listed $2,400,000 SDMLS
• 2018-09-11 Listed $2,400,000 CRMLS
• 2018-05-01 Listing Removed — CRMLS
• 2018-05-01 Listing Removed — SDMLS
• 2018-03-13 Price Changed $1,800,000 CRMLS
• 2018-02-16 Listed $2,000,000 CRMLS
• 2018-02-16 Listed $1,800,000 SDMLS
• 2015-11-03 Listing Removed — CRMLS
• 2015-11-02 Listing Removed — SDMLS
• 2015-09-11 Listed $3,375,000 CRMLS
• 2015-09-09 Listed $3,375,000 SDMLS
• 2000-05-07 Listing Removed — CRMLS
• 2000-02-07 Listed $349,000 CRMLS
• 1999-07-15 Sold (Public Records) $179,000 Public Records
• 1999-06-01 Sold (MLS) $179,000 CRMLS
• 1999-01-22 Listed $179,950 CRMLS
• 1999-01-22 Sold (MLS) $141,000 CRMLS
• 1998-11-02 Sold (Public Records) $140,000 Public Records
• 1998-05-22 Listed $140,000 CRMLS
• 1992-08-28 Sold (Public Records) $320,000 Public Records
• 1990-08-24 Sold (Public Records) $235,000 Public Records

Property tax history

+14.0%/yr

Latest (2025): $34,686 · +4.5% YoY. Source: county tax records.