1967 Atlantic Avenue
1967 Atlantic Avenue
Description
Brand New ADU with EV Charging: Built with precision in 2023, this additional dwelling unit offers modern amenities and the convenience of electric vehicle charging—a forward-thinking feature that...This remarkable 4-plex in Long Beach is not just another property—it's a lucrative venture waiting to be seized. Boasting an impressive gross income of $126,000 per year, this gem stands out as one of the most profitable 4-unit properties on the market. Here's what makes this property truly exceptional:
Brand New ADU with EV Charging: Built with precision in 2023, this additional dwelling unit offers modern amenities and the convenience of electric vehicle charging—a forward-thinking feature that adds significant value. Diverse Rental Portfolio: With one fully operating Airbnb unit and three fully furnished units catering to traveling nurses on short-term rentals, this property offers a versatile income stream. While all units can be delivered vacant upon request, the substantial income generated makes it an enticing proposition to retain the existing tenants. Modern Comforts: Each unit is equipped with its own washer and dryer, along with brand new appliances, ensuring convenience and quality living for tenants. Ample Parking: Say goodbye to parking woes with generous off-street parking, providing convenience for both residents and guests. Comfortable Living Spaces: Enjoy year-round comfort with AC mini-splits installed in all four units, ensuring a pleasant environment regardless of the season. Comprehensive Renovation: With new electrical, plumbing, windows, and smooth stucco, this property has undergone a full remodel and rebuild in 2023. From top to bottom, every detail has been meticulously crafted to offer a turnkey, move-in ready experience. Say goodbye to maintenance headaches—this property promises hassle-free ownership. Don't miss out on this rare opportunity to own a high-income-generating property that's not only profitable but also meticulously designed for long-term success. Whether you're a seasoned investor or new to the market, this 4-plex offers an unparalleled combination of income potential and modern amenities—a truly exceptional investment opportunity in Long Beach.
- Listed by Juan Huizar • DRE #01417642 • Brokerage DRE #02163228 • Sage Real Estate • 562-307-0838
Property Details for 1967 Atlantic Avenue
Location
Property Details for 1967 Atlantic Avenue
| Status | Active |
|---|---|
| MLS # | PW24046763 |
| Days on Market | 52 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1922 |
| Lot Size | 0.13 AC / 5,588 SF |
| County | Los Angeles County |
Location
Building Information for 1967 Atlantic Avenue
Payment Calculator
$8,412 per month
30 year fixed, 7.25% Interest
$7,635
$777
$0
Property Information for 1967 Atlantic Avenue
- Gross Income: $126,000
- Gross Scheduled Income: $126,000
- Net Operating Income: $88,200
- Gross Multiplier: 11.1
- Cap Rate: 6.3
- Operating Expense: $37,800
- Operating Expense Percent: 30.00%
- New Taxes Expense: $18,125
- Gardener Expense: $780
- Licenses Expense: $400
- Insurance Expense: $2,800
- Maintenance Expense: $1,800
- Trash Expense: $720
- Water Sewer Expense: $900
- Total Expenses: $37,800
- Tax Block: 4
- Tax Tract Number: 2
- Tax Census Tract: 5732.02
- CFD/Mello-Roos Fee: $859
- Tax Lot: 21
- Assessments YN: Yes
- Assessments: Buyer to Verify
- Community Features: Curbs, Sidewalks, Street Lights
- Laundry: Yes
- Laundry Features: Inside
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Ductless
- Heating Type: Ductless
- Heating: Ductless
- Flooring: Vinyl
- Entry Location: 1
- Other Structures: Accessory Dwelling Unit
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Walk Score: 83
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 4
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
- Electric: Electricity - On Property
- Water Source: Public
- Garage Spaces: 0
- Parking: Yes
- Parking Garage: Driveway
- Uncovered Spaces: 4
- Open Other Spaces Total: 4
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: Driveway
- Builders Tract Name: Poly High
- Builders Tract Code: Poly High (PH)
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Furnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $4,300
- Unit Type Total Rent: $4,300
- Unit Type Pro Forma: 4300
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Furnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,600
- Unit Type Total Rent: $2,600
- Unit Type Pro Forma: 2600
- Unit Type Type: 2
- Unit Type Units Total: 2
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Furnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,800
- Unit Type Total Rent: $1,800
- Unit Type Pro Forma: 1800
- Unit Type Type: 3
- Number Of Units Leased: 4
- Rent Controlled: No
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
- Number With Range: 4
- Number With Refrigerator: 4
Property History for 1967 Atlantic Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1967 Atlantic Avenue
Schools near 1967 Atlantic Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Burnett Elementary School PublicK to 5 | ||
Jessie Nelson Academy Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Educational Partnership High School Public9 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.
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Listing Courtesy of Sage Real Estate, Juan Huizar, DRE #01417642
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.