801 Atlantic Avenue, Long Beach, California 90813, Long Beach, 90813 - 10 bed, 4 bath

801 Atlantic Avenue, Long Beach, California 90813 home-pic-0
ACTIVE$1,435,000
801 Atlantic Avenue, Long Beach, California 90813
10Beds
4Baths
3,312Sqft
3,001Lot
Year Built
1914
Close
-
List price
$1.44M
Original List price
$1.48M
Price/Sqft
$433
HOA
-
Days on market
-
Sold On
-
MLS number
SB24227269
Home ConditionExcellent
Features
View-

About this home

We found 2 Cons,3 Pros. Rank: price - $1.44M(92th), sqft - 3312(85th), beds - 10(92th), baths - 4(77th).

$40,000 Price Reduction!! Attractively priced at 12.7 GRM, a 5.2% cap rate with upside, and gross scheduled rents of $112,620 per year. Three of the four units will be occupied. The 2-bedroom, 1-bath unit is ready for an owner to move in or for an investor to choose a tenant and secure market rent! 801 Atlantic Ave, Long Beach is a beautifully 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!

Price History

Date
Event
Price
05/16/23
Sold
$1,100,000
07/11/01
Sold
$352,500
12/21/99
Sold
$295,000
Condition Rating
Excellent

The property, built in 1914, underwent a complete renovation in 2023, including new flooring, cabinetry, countertops, light fixtures, appliances, and an upgraded electrical system. The roof was also replaced in 2024. The images confirm the modern updates and high-quality finishes in the kitchens and bathrooms, justifying an 'excellent' condition score.
Pros & Cons

Pros

Renovated Units: All four units have been meticulously renovated in 2023, featuring new flooring, cabinetry, countertops, appliances, and fresh paint, increasing tenant appeal and potential rental income.
Electrical Upgrade: The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, reducing potential maintenance costs and improving safety.
Favorable Cap Rate: Attractively priced at a 5.2% cap rate with upside and a 12.7 GRM, offering a solid return on investment for potential buyers.

Cons

Year Built: Built in 1914, the property may require ongoing maintenance and potential upgrades due to its age.
Limited View: The property has no specified view, which may be less appealing to some tenants or buyers seeking scenic surroundings.

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