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**SELLER OFFERING $15,000 TOWARDS INTEREST RATE BUY-DOWN FOR BUYER** Welcome to 801 Atlantic Ave, Long Beach, CA – a stunningly renovated 4-unit multifamily property perfect for both investors and owner-occupants. The property has an attractive unit mix of (2) 2-bedroom 1-bath and (2) 3-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! Enjoy gross scheduled rents of $113,220 per year, a 13.0 GRM, a 5.0% cap rate, and an 8% upside in rents. Additionally, unit 807 (3bd 1ba) and unit 803 (2bd 1ba) will be available at close of escrow, ideal for an owner-occupant or investor to select their tenant and capture market rent!
Property Type(s):
Residential Income
| Last Updated | 10/16/2024 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1914 | Community | Downtown Area, Alamitos Beach |
| County | Los Angeles |
Price History
| Prior to Oct 1, '24 | $1,495,000 |
|---|---|
| Oct 1, '24 - Oct 16, '24 | $1,490,000 |
| Oct 16, '24 - Today | $1,475,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Downtown Area, Alamitos Beach |
| HEAT | Wall Furnace |
| LOT | 3001 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| WATER | Public |
| ZONING | LBCO |
Location
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Listed with Buckingham Investments, Inc
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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