1844 Atlantic AveLong Beach, CA 90806

Property Details for 1844 Atlantic Ave

Year built

1920

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

3,429 SF

Zone code

LBPD25

Property type

Investment properties

Property subtype

Live-work space

APN

7210-016-014

APU

7210016014

Description

This exceptional 7-unit multi-tenant retail property at 1844 Atlantic Ave, Long Beach, CA 90806, presents a compelling investment opportunity. Boasting 3,429 square feet on a 4,890 square foot lot, this 1920-built building offers a strong current NOI of $74,706, translating to a 6.90% cap rate and a price per square foot of $290. The property is currently 100% occupied with a pro-forma NOI projected at $87,049. Each of the seven units offers significant upside potential for rental income. Recent improvements include a newly updated garage roof, fresh paint, and upgraded shut-off valves. The asking price is $995,000, representing a price per unit of $142,143 and a land value of $290 per square foot. Seller financing is available with a significant down payment. This is an ideal opportunity for both investors seeking strong cash flow and owner-occupants looking for a well-maintained property with growth potential in a desirable Long Beach location. The building's low operating expenses further enhance its profitability. This mixed-use property offers a rare combination of immediate income and long-term appreciation potential.

• CAP approach

  CAP return

  Valuation

  6%

  $844,901

  6.5%

  $779,909

  7%

  $724,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,093,782

  Geo Method

  $1,093,782

• Alternative Use

  Use

  Valuation

  Residential

  $967,087

  Hospitality

  $885,846

  Educational

  $737,014

  Medical

  $762,361

  Retail

  $1,146,466

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7907

Longitude

-118.185

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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