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Closed
- Listed price
- $2,650,000
- Listed Mar 3, 2023
- Sold price
- $2,500,000
- Sold Jul 21, 2023
3,750 sqft lot|1923 Built|31 MLS days on market
227 Lime Ave, Long Beach, CA 90802
Property Description
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.
Listing agent: Anthony WalkerDRE #01908153Anthony.walker@buckinghaminvestments.com, Listing office: Buckingham Investments, Inc
MLS data updated 10/25/2026, 11:23:41 PM PT
Source: CRMLSMLS #: SB23036205
Belmont insights
Price & property history
Compare recorded home prices, same-type ZIP sales and mortgage rates.
Last recorded sale$2,500,000
Jul 21, 2023
Available records22023
From MLS recordsActual listing and closing events
Prices use the left axis; mortgage rates use the right. Hover, tap, or focus the chart and use the arrow keys. Red SOLD badges mark recorded sales.
This home · nearest recorded event
$2,500,000Closed sale · Jul 21, 2023ZIP 90802 · Jul 2023
No monthly averageAt least 3 eligible sales in this month are required.30-year fixed mortgage benchmark
No weekly rateNo published rate within 7 days of this date.This home · 2 price recordsMar 3, 2023 – Jul 21, 2023
ZIP 90802 · same property typeThis MLS property type has no exact comparison group.
Freddie Mac · national weekly ratesLoading mortgage-rate history…
Recorded sales in this period (1)
ZIP averages use publicly displayable closed sales from our licensed MLS feed, matched to the same ZIP and exact property type. Months with fewer than 3 sales are omitted; the current month is incomplete. Lines connect available monthly observations across gaps and do not represent measured prices in missing months. These averages are not adjusted for size, condition, or location within the ZIP, and are not an appraisal. Feed coverage may not include every sale. All available shows the available home and ZIP history, with mortgage rates over the same dates.
Mortgage benchmark: Freddie Mac Primary Mortgage Market Survey®. © Freddie Mac. Weekly national 30-year fixed rates, not APRs or a loan quote. Actual terms vary. Methodology changed in November 2022. The chart does not establish that interest-rate changes caused a home’s price changes.
Lines connect recorded asking and sale prices. They are visual guides, not estimates of the home’s value between those dates.
View listing & sale records
No earlier records were returned by our current sources. This does not mean the home has never sold.
MLS records may be incomplete. Earlier asking prices are not sale prices.