1491 Atlantic Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,850,000 USD
714-713-9086
1491 Atlantic Ave, Long Beach, CA for Sale
$2,850,000 USD
Apartments - FOR SALE
1/15
null | 4.74% Cap Rate

1491 Atlantic Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Newer 2022 construction with modern finishes and minimal near-term capital needs.
  • 5-unit Long Beach multifamily asset totaling 6,845 rentable square feet.
  • Unique unit mix with one studio, one 2-bed/2-bath unit, and three 5-bed/3.5-bath townhomes.
  • Expansive townhome-style units appeal to families and larger households.
  • Central A/C, solar panels, private balconies, and in-unit laundry hookups.
  • Adjacent to Roosevelt Elementary School and near Long Beach Polytechnic High School.

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1491 Atlantic Avenue, a newly built 5-unit multifamily investment opportunity located in Long Beach, CA. Built in 2022, the property offers a unique and diverse unit mix consisting of one studio, one 2-bed/2-bath unit, and three expansive 5-bed/3.5-bath townhome-style units across 6,845 rentable square feet. This versatile layout, combined with exceptionally large floor plans for the townhome units, allows the asset to appeal to a wide range of tenant profiles, from single professionals to families seeking additional space. As a modern, newly constructed building, the asset has been exceptionally well maintained and offers a stable operational profile with virtually zero near-term capital expenditure requirements. The property is equipped with premium contemporary amenities, including central air conditioning, energy-efficient solar panels, private balconies, and the security of controlled access and gated parking, with six garage spaces. Supporting long-term tenancy, the property is located adjacent to multiple local schools, making the larger townhome units highly attractive to families prioritizing educational proximity. Overall, 1491 Atlantic Avenue represents a rare opportunity to acquire a low-maintenance, turnkey asset in Long Beach, leveraging modern construction efficiencies, top-tier amenities, and an ideal neighborhood footprint to support consistent occupancy and strong operational performance. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$416 USD /SF

# OF UNITS

5

PRICE/UNIT

$570,000

CAP RATE

4.74%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

LBCO

APN/PARCEL ID

7269-031-017

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.