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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$1,389,000
801 Atlantic Avenue, Long Beach, California 90813
10Beds
4Baths
3,312Sqft
3,001Lot
Year Built
1914
Close
-
List price
$1.39M
Original List price
$1.39M
Price/Sqft
$419
HOA
-
Days on market
-
Sold On
-
MLS number
SB25172724
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.39M(92th), sqft - 3312(85th), beds - 10(92th), baths - 4(77th).

4 renovated units located in downtown Long Beach, fully leased with gross scheduled rents over $110,000 per year! 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 current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property is individually metered for gas and electricity. 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!! Reach out today!

Price History

Date
Event
Price
07/31/25
$1,389,000
05/16/23
Sold
$1,100,000
07/11/01
Sold
$352,500
12/21/99
Sold
$295,000
Condition Rating
Excellent
The property was built in 1914 but fully renovated in 2023. The listing and images show new flooring, cabinetry, quartz countertops, light fixtures, appliances, and fresh paint. The electrical system and roof were also upgraded. The kitchens and bathrooms appear modern and in excellent condition.
Pros & Cons

Pros

Renovated Units: All 4 units have been meticulously renovated in 2023 with new flooring, cabinetry, countertops, and appliances, increasing tenant appeal and reducing immediate maintenance costs.
Electrical System Upgrade: The property features a completely upgraded electrical system in 2023, including a full re-wire and new panels, ensuring safety and compliance with modern standards.
New Roof: A new silicone white roof was installed in 2024, providing long-term protection and reducing future expenses related to roof repairs or replacement.
Strong Rental Income: The property is fully leased with a gross scheduled rent over $110,000 per year, offering immediate cash flow for investors.
Turnkey Investment: With over $150,000 invested in recent improvements, the property is ideal for a turnkey investor seeking a hassle-free income property.

Cons

Year Built: Built in 1914, the age of the building may present potential maintenance challenges or require future upgrades to meet modern building codes.
Cap Rate: The current cap rate of 5.3% may be lower than desired for some investors, although there is potential for upside to 7.0% pro forma.
Lot Size: The lot size of 3,001 sqft is relatively small, potentially limiting future expansion or development opportunities.

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