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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
$1.44M
Price/Sqft
$433
HOA
-
Days on market
-
Sold On
-
MLS number
SB25072373
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.44M(92th), sqft - 3312(85th), beds - 10(92th), baths - 4(77th).

Looking for a cash-flowing, TURNKEY 4-plex just 1 mile from the beach? Welcome to 801 Atlantic Ave in Long Beach! The current owners have invested nearly $200,000 in upgrades, and the property is fully rented, with tenants in all 4 units generating over $100,000/year in rental income. The property features an attractive unit mix of (2) 2-bedroom, 1-bath units and (2) 3-bedroom, 1-bath units. Each of the 4 units has been meticulously renovated in 2023, including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heaters, sinks, appliances, blinds, and fresh paint. The property also boasts a completely upgraded electrical system, including a full re-wire, new main service panel, and sub-panels, as well as a 2024 silicone white roof. This is a prime opportunity for investors -- reach out today!

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
Despite being built in 1914, this property has undergone an extensive and meticulous renovation in 2023, with nearly $200,000 invested. All four units feature new flooring, cabinetry, Quartz countertops, light fixtures, sinks, and appliances, bringing kitchens and bathrooms to a virtually new, modern standard. Major systems have also been upgraded, including a full electrical re-wire, new main service panel, new water heaters, new wall heaters, and a brand new 2024 roof. This level of recent renovation, covering all key components, aligns perfectly with the 'excellent' criteria of being extensively renovated within 5 years with virtually new components and no deferred maintenance.
Pros & Cons

Pros

Strong Cash Flow: The property is a fully rented 4-plex generating over $100,000/year in rental income, indicating a robust and immediate return on investment.
Extensive Recent Renovations: Nearly $200,000 has been invested in upgrades, with all four units meticulously renovated in 2023, including new flooring, cabinetry, Quartz countertops, appliances, and paint, ensuring modern appeal and reduced immediate maintenance.
Major Infrastructure Updates: Significant capital improvements include a completely upgraded electrical system (full re-wire, new main service panel, and sub-panels) and a brand new 2024 silicone white roof, minimizing future large-scale repair costs.
Desirable Unit Mix: The property offers an attractive unit mix of two 2-bedroom, 1-bath units and two 3-bedroom, 1-bath units, catering to a broader tenant base and potentially maximizing rental income.
Prime Location: Located in Downtown Long Beach, just 1 mile from the beach, offering tenants desirable proximity to coastal amenities and urban conveniences.

Cons

Historic Building Age: Built in 1914, despite extensive renovations, the underlying century-old structure may present unforeseen maintenance challenges or require specialized upkeep for non-renovated components.
Lack of Cooling System: The description only mentions 'wall heaters' and does not specify any air conditioning, which could be a significant drawback for tenant comfort during warmer months in Long Beach.
No Dedicated Parking Mentioned: For a 4-plex in a dense urban area like Downtown Long Beach, the absence of specified dedicated parking could be a major inconvenience for tenants and impact rental desirability.

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