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Listed by Christopher Crosby • Buckingham Investments, Inc
$1,475,000
Est. payment /mo
3,312 SqFt
UPDATED:
12/12/2024 09:58 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $445
MLS Listing ID CRSB24159267
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1914
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!
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Fireplace No
Laundry No Hookups
Building
Water Public
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James Dye
Broker Associate | License ID: 00897803
Broker Associate License ID: 00897803