1844 Atlantic, Long Beach, California 90806, Long Beach, 90806 - bed, bath
ACTIVE$1,250,000
1844 Atlantic, Long Beach, California 90806
0Bed
0Bath
4,554Sqft
4,890Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Diversified Income Stream: The property features a robust mixed-use configuration with three street-level commercial storefronts and three residential units, providing a diversified and stable income stream.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 4554, other record living area = 3429.
Compared to the nearby listings
Price:$1.25M vs avg $1.19M (+$57,500)50%
Size:4,554 sqft vs avg 4,442 sqft50%
Price/sqft:$274 vs avg $34150%
More Insights
Built in 1920 (105 years old).
Condition: While the property was built in 1920, suggesting an older structure, at least one of the residential units has undergone a significant and recent renovation. This unit features a modern kitchen with white shaker cabinets, stainless steel appliances, and a subway tile backsplash, along with a contemporary bathroom, new flooring, and updated light fixtures. However, other images of the exterior and another bedroom indicate that not all units or common areas have received the same level of renovation, with visible window AC units and an older overall appearance in some sections. The property's condition is a mix, but the extensively updated unit elevates the overall quality to 'Good,' making it move-in ready in parts, even if other areas may require future updates.
Year Built
1920
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$274
HOA
-
Days on market
-
Sold On
-
MLS number
SB25268211
Home ConditionGood
Features
View-
About this home
Presenting a remarkable opportunity to acquire a robust commercial/residential mixed-use property situated in a highly desirable 1844 Atlantic Ave in Long BEach. This meticulously configured asset comprises six total units: three income-generating street-level commercial storefronts and three back-end residential units. Offering immediate stability and strong returns, the property currently boasts an impressive 11.44 Gross Rent Multiplier (GRM) and an attractive 8.4% Capitalization Rate (Cap Rate). With five out of six units tenant occupied, the diversified income stream provides opportunity for maximum upside potential, or opportunity to live/rent. Don't miss out on this incredible investment opportunity. Contact the listing agent today to request the full financial package and schedule a private showing; do not disturb the current tenants.
Nearby schools
7/10
Roosevelt Elementary School
Public,•K-5•0.3mi
5/10
Burnett Elementary School
Public,•K-5•0.5mi
4/10
Whittier Elementary School
Public,•K-5•0.7mi
8/10
Signal Hill Elementary School
Public,•K-5•0.9mi
6/10
Washington Middle School
Public,•6-8•0.7mi
6/10
Franklin Classical Middle School
Public,•6-8•1.3mi
6/10
Polytechnic High School
Public,•9-12•0.2mi
Price History
Date
Event
Price
12/04/12
Sold
$220,000
06/11/07
Sold
$600,000
Condition Rating
Good
While the property was built in 1920, suggesting an older structure, at least one of the residential units has undergone a significant and recent renovation. This unit features a modern kitchen with white shaker cabinets, stainless steel appliances, and a subway tile backsplash, along with a contemporary bathroom, new flooring, and updated light fixtures. However, other images of the exterior and another bedroom indicate that not all units or common areas have received the same level of renovation, with visible window AC units and an older overall appearance in some sections. The property's condition is a mix, but the extensively updated unit elevates the overall quality to 'Good,' making it move-in ready in parts, even if other areas may require future updates.
Pros & Cons
Pros
Diversified Income Stream: The property features a robust mixed-use configuration with three street-level commercial storefronts and three residential units, providing a diversified and stable income stream.
Strong Financial Performance: Boasts an attractive 8.4% Capitalization Rate (Cap Rate) and an 11.44 Gross Rent Multiplier (GRM), indicating strong immediate returns and investment potential.
High Occupancy & Upside Potential: With five out of six units currently tenant-occupied, the property offers immediate income stability and clear upside potential by leasing the vacant unit or for owner-occupancy.
Desirable Long Beach Location: Situated in a 'highly desirable' area of Long Beach on Atlantic Avenue, suggesting strong tenant demand for both commercial and residential spaces.
Proximity to Schools: Located within walking distance to Polytechnic High School (0.24 miles) and Roosevelt Elementary School (0.32 miles), enhancing its appeal to residential tenants.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 4554, other record living area = 3429.
Age of Property: Built in 1920, the property is over a century old, which may imply potential for deferred maintenance, outdated systems (plumbing, electrical), and higher ongoing repair costs.
Limited Public Property Condition Details: The description focuses heavily on financial metrics but lacks specific details regarding the physical condition of the units or recent capital improvements, which is crucial for an older mixed-use asset.
Due Diligence Requirements: Prospective buyers must request a 'full financial package' and are advised 'do not disturb the current tenants,' indicating that comprehensive due diligence will require additional steps and coordination.