1844 Atlantic Avenue

Long Beach, CA 90806

$995,000
Price
8
Beds
5
Baths
3,429 Sq. Ft.
$290 / Sq. Ft.
3,429
Sq. Ft.
$290
per Sq. Ft.

Description

Incredible mixed use building that is cash flowing at a current GRM of 9.6 and cap rate of 7.5%. Seller carry financing may be available with 50%+ down. Three retail units in front, residential in the back. Tons of upside potential for all of the retail units, or an excellent opportunity for a owner-user purchase. Tenants are paying on-time and consistently. Prime retail location on Atlantic Ave with 30,000+ vehicles passing each day. Recently updated garage roof, painting, and plumbing. This low...Incredible mixed use building that is cash flowing at a current GRM of 9.6 and cap rate of 7.5%. Seller carry financing may be available with 50%+ down. Three retail units in front, residential in the back. Tons of upside potential for all of the retail units, or an excellent opportunity for a owner-user purchase. Tenants are paying on-time and consistently. Prime retail location on Atlantic Ave with 30,000+ vehicles passing each day. Recently updated garage roof, painting, and plumbing. This low expense building is a cash cow and a great opportunity for a savvy investor.
  1. Listed by Malcolm Zeger • DRE #02013882 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 626-483-7983

Property Details for 1844 Atlantic Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3429
Assessor Parcel Number
7210-016-014
Property Attached YN
true
LISTING UPDATED: 11/05/2024 02:59 AM

Property Details for 1844 Atlantic Avenue

StatusActive
MLS #SB24225878
Days on Market16
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1920
Lot Size0.11 AC / 4,890 SF
CountyLos Angeles County

Building Information for 1844 Atlantic Avenue

Stories1Residences-Year Built1920Building Size-Lot Size0.11 AC / 4,890 SF

Property Information for 1844 Atlantic Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $103,800
  • Vacancy Allowance Rate: 5
  • Net Operating Income: $74,706
  • Gross Multiplier: 9.59
  • Cap Rate: 7.5
Expense Details
  • Operating Expense: $23,904
  • New Taxes Expense: $12,438
  • Fuel Expense: $390
  • Electric Expense: $390
  • Insurance Expense: $2,290
  • Maintenance Expense: $1,200
  • Professional Management Expense: $5,917
  • Trash Expense: $390
  • Water Sewer Expense: $390
  • Total Expenses: $23,904
Tax / Assessment Info
  • Tax Block: A
  • Tax Tract Number: 573...
  • Tax Census Tract: 5732.02
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: First Floor
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre, Rectangular Lot
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Poly High
  • Builders Tract Code: Poly High (PH)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $900
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $900
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1100
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $900
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1100
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $900
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 900
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,000
  • Unit Type Total Rent: $2,000
  • Unit Type Pro Forma: 2400
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,650
  • Unit Type Total Rent: $1,650
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,400
  • Unit Type Total Rent: $1,400
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 7
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1

Property History for 1844 Atlantic Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1844 Atlantic Avenue

Taxable ValueLand$169,014Additions$96,578Total$265,592
Tax Record2024$4,028 ($336 / month)
Home Facts
Total Finished SqFt3,429 SqFtAbove Grade Finished SqFt3,429 SqFtStories1Lot Size4,890 SqFtStyleOffice BuildingYear Built1920ZoningLBPD25CountyLOS ANGELESAPN7210-016-014

Schools near 1844 Atlantic Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Burnett Elementary School
PublicK to 5

Jessie Nelson Academy
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1844 Atlantic Avenue is a mixed use property for sale in Long Beach, CA 90806. This property was listed for sale on November 1, 2024 by Buckingham Investments, Inc, it's currently listed at $995,000. It has been on the market for a total of 16 days and was last sold on December 7, 2012. This listing's school district is Long Beach Unified School District. Nearby schools include Burnett Elementary School, Jessie Nelson Academy and Polytechnic High School. 1844 Atlantic Avenue is a 8-bed, 5-bath, 3,429 sqft mixed use property built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Buckingham Investments, Inc, Malcolm Zeger, DRE #02013882

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.