801 Atlantic Ave
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801 Atlantic Ave
4 Unit Block of Flats £1,157,005 (£289,251/Unit) 5% Net Initial Yield Long Beach, CA 90813
Investment Highlights
- All 4 units have been meticulously renovated in 2023
- 2024 Silicone white roof
- 2 units vacant available for owner-occupant or investor to hand select their tenants
- Completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels
- Attractive unit mix of (2) 2-bedroom 1-bath and (2) 3-bedroom 1-bath units
- Enjoy gross scheduled rents of $113,220 per year, a 13.0 GRM, a 5.0% cap rate, and an 8% upside in rents.
Executive Summary
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!
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,157,005 | Apartment Style | Low Rise |
| Price Per Unit | £289,251 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Net Initial Yield | 5% | Building Size | 3,212 SF |
| Gross Rent Multiplier | 13 | Average Occupancy | 50% |
| No. Units | 4 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1914 |
| Property Subtype | Apartment |
| Price | £1,157,005 |
| Price Per Unit | £289,251 |
| Sale Type | Investment |
| Net Initial Yield | 5% |
| Gross Rent Multiplier | 13 |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,212 SF |
| Average Occupancy | 50% |
| Number of Floors | 2 |
| Year Built | 1914 |
Unit Amenities
- Quartz Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+1 | 2 | £2,310 | - |
| 2+1 | 2 | £1,665 | - |
1 of 1
Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 7274-016-016 | Total Assessment | £878,539 |
| Land Assessment | £313,764 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £564,775 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
7274-016-016
Land Assessment
£313,764
Improvements Assessment
£564,775
Total Assessment
£878,539
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | MF |
| MF |
-
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Buckingham Investments
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801 Atlantic Ave
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