2248 Atlantic Avenue
Long Beach, CA 90806
MLS #CC333642

Commercial
  • 5,046sq ft
Active Under Contract $849,500
Est. P&I payment: $3244.51/mo
2248 Atlantic Avenue, Long Beach, CA 90806
  • 2248 Atlantic Avenue, Long Beach, CA 90806 Photo 1
  • 2248 Atlantic Avenue, Long Beach, CA 90806 Photo 2
  • 2248 Atlantic Avenue, Long Beach, CA 90806 Photo 3
  • 2248 Atlantic Avenue, Long Beach, CA 90806 Photo 4
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Description for 2248 Atlantic Avenue, Long Beach, CA 90806
Solid investment property in an active, non-rent controlled rental market. This is a two story sixties apartment with eight separately metered units consisting of six 1bed/1bath apartments and two 2bed/1bath apartments. There is a coin operated laundry system and six private garages that generate additional income. Lots of value-add and upside potential. The building is located in the heart of one of the strongest rental markets of Southern California. Minutes away from the 405 and 710 freeways and close to major public transportation lines, tenants have access to Orange County and Los Angeles. The employment market is robust due to proximity to Memorial Hospital, LBCC, CSULB, the LBG Airport, and the Deukmejian Court House.. Comments Title: 8 Unit Multi-Family Prime Investment Opportunity.
MLS #CC333642
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My Notes for MLS #CC333642

General Features

  • Building Name: 2248 Atlantic Ave
  • Building Status: Existing
  • Land Use: Multi-Family
  • Number Of Buildings: 1
  • Number Of Units Total: 8
  • Property SubType: Multi-Family
  • Property Type: Commercial Sale
  • Year Built: 1964

Exterior Features

  • Construction Materials: Stucco
  • Parking Total: 7
  • Stories Total: 2
  • Topography: Urban

Interior Features

    Utility Features

    • Laundry Features: Community
    • Water Source: District/Public

    Financial Features

    • Accounting Type: Actual
    • AssetClass: Multi-Family
    • CapRate: 5.81
    • Investment Property YN: 1
    • Net Operating Income: 49,344
    • Operating Expense: 28,784
    • Price Per Lot SqFt: 169.8
    • Price Per SqFt: 168.35
    • Vacancy Allowance Rate: 5

    Miscellaneous Features

    • Building Area Total: 5,046
    • Days On Market: 861
    • Special Listing Conditions: Standard

    Location

     
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    P&I Payment $3244.51
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    Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
    Last Updated 11/23/2017 at 2:59am
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