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801 Atlantic Ave, Long Beach

Off-Market 4 units beautifully renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heater(s), sinks, range hoods, blinds, paint, etc! Completely upgraded electrical system in 2023 (full rewire, new panels, etc.). 2024 Silicone white roof with 15yr material warranty and 3 year labor warranty. Great unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. Seller will deliver 3-bedroom 1-bathroom (unit 807) vacant at close of escrow, great for owner occupant! Gross Scheduled Rents of $113,220/yr! 13.5 GRM and 4.8% Cap Rate, with 6.8% upside in rents. Property is individually metered for gas and electricity.

Property Details

  • Units: 4
  • Gross Rent Multiplier: 13.47
  • Cap Rate: 4.8

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Price

$1,525,000

Annual Income

$113,220

Annual NOI

$72,613

Annual Expense

$37,211

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
131$2,500$2,500$2,945$2,945
121$2,095$2,095$2,095$2,095
121$1,895$1,895$2,095$2,095
131$2,945$2,945$2,945$2,945
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
4104$9,435$10,080

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