801 Atlantic Avenue new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Sub Type All Other Attached
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $419
Subdivision Downtown (Dt)
MLS Listing ID SB25172724
Bedrooms 10
Full Baths 4
Year Built 1914
Property Sub-Type All Other Attached
Property Description
4 renovated units located in downtown Long Beach, fully leased with gross scheduled rents over $110,000 per year! The property has an attractive unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property is individually metered for gas and electricity. Attractively priced at 12.47 GRM and a 5.3% cap rate with upside to 10.15 GRM and 7.0% pro forma cap rate!! Reach out today!
Location
State CA
County Los Angeles
Zoning LBCO
Interior
Heating Wall/Gravity
Exterior
Parking Features None Known
View Y/N Yes
Roof Type Flat
Building
Story 2
Sewer Public Sewer
Water Public
Others
Special Listing Condition Standard