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Listed by Christopher Crosby • Buckingham Investments, Inc
$1,475,000
Est. payment /mo
10 BD
4 BA
3,312 SqFt
Active
801 Atlantic Avenue Long Beach, CA 90813
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UPDATED:
12/12/2024 08:19 PM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $445
Subdivision Downtown
MLS Listing ID SB-24227269
Bedrooms 10
Full Baths 4
Year Built 1914
Lot Size 3,001 Sqft
Property Description
**SELLER OFFERING $15,000 TOWARDS INTEREST RATE BUY-DOWN FOR BUYER** 4-unit property, live in one unit and let the remaining 3 units pay your mortgage! Perfect for an investor looking for a renovated multifamily in a downtown location with high rental demand. 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% cap rate, and 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
Zoning LBCO
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Laundry None
Exterior
Pool None
Community Features Curbs, Sidewalks, Street Lights, Urban
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
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