REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Christopher Crosby • Buckingham Investments, Inc
$ 1,389,000
Est. payment /mo
Active
801 Atlantic Avenue Long Beach, CA 90813
3,312 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $419
Subdivision Downtown
MLS Listing ID SB-25164581
Year Built 1914
Lot Size 3,001 Sqft
Property Sub-Type Quadruplex
Property Description
4 renovated units located in downtown Long Beach, with gross scheduled rents over $110,000 per year! 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!! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. 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 property is individually metered for gas and electricity. Reach out today!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCO
Interior
Heating Wall Furnace
Fireplaces Type None
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Curbs, Sidewalks, Street Lights, Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944