$1,475,000
801 Atlantic Avenue Long Beach, CA 90813
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$1,475,000
Est. payment /mo
10 Beds
4 Baths
3,001 Sqft Lot
OPEN HOUSE
Sun Nov 24, 10:00am - 1:00pm
UPDATED:
11/24/2024 04:16 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24159267
Bedrooms 10
HOA Y/N No
Lot Size 3,001 Sqft
Property Description
**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!
**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!
**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!
Location
State CA
County Los Angeles
Area Long Beach (90813)
Zoning Public Rec
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 1-3999 SF
Level or Stories 2 Story
Others
Monthly Total Fees $82
Acceptable Financing Cal Vet, Cash, Conventional, Exchange, FHA, Land Contract, VA
Space Rent $2,500
Listing Terms Cal Vet, Cash, Conventional, Exchange, FHA, Land Contract, VA
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Listed by Buckingham Investments, Inc
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Mary Ellen Haywood
Broker Associate | CA DRE#01264878
Broker Associate CA DRE#01264878