801 Atlantic Ave, Long Beach

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

Property Details

Units: 4
Gross Rent Multiplier: 12.4
Cap Rate: 5.3

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Price

$1,389,000

Annual Income

$111,360

Annual NOI

$73,871

Annual Expense

$34,148

Rental Cost Details

# OF UNITS	# OF BEDROOMS	# OF BATHS	ACTUAL RENT	TOTAL RENT	PRO FORMA	TOTAL PRO FORMA
1	3	1	$2,500	$2,500	$3,200	$3,200
1	2	1	$2,040	$2,040	$2,500	$2,500
1	2	1	$1,895	$1,895	$2,500	$2,500
1	3	1	$2,845	$2,845	$3,200	$3,200
TOTAL # OF UNITS	TOTAL # OF BEDROOMS	TOTAL # OF BATHS		GRAND TOTAL RENT		GRAND TOTAL PRO FORMA
4	10	4		$9,280		$11,400

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