1844-1848 Atlantic Ave
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1844-1848 Atlantic Ave
3,429 SF 100% Leased Retail Building Long Beach, CA 90806 $995,000 ($290/SF) 7.51% Cap Rate
Investment Highlights
- Current GRM of 9.6 and current cap rate of 7.5%
- Prime Atlantic Ave location with 30,000+ daily traffic and 70,000 nearby households
- Seller financing available with 50%+ down
Executive Summary
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, four residential units in 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.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$103,800
|
$30.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,190
|
$1.51
|
| Effective Gross Income |
$98,610
|
$28.76
|
| Taxes |
$12,438
|
$3.63
|
| Operating Expenses |
$11,466
|
$3.34
|
| Total Expenses |
$23,904
|
$6.97
|
| Net Operating Income |
$74,706
|
$21.79
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $103,800 |
| Annual Per SF | $30.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,190 |
| Annual Per SF | $1.51 |
| Effective Gross Income | |
|---|---|
| Annual | $98,610 |
| Annual Per SF | $28.76 |
| Taxes | |
|---|---|
| Annual | $12,438 |
| Annual Per SF | $3.63 |
| Operating Expenses | |
|---|---|
| Annual | $11,466 |
| Annual Per SF | $3.34 |
| Total Expenses | |
|---|---|
| Annual | $23,904 |
| Annual Per SF | $6.97 |
| Net Operating Income | |
|---|---|
| Annual | $74,706 |
| Annual Per SF | $21.79 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,429 SF
Building Class
C
Year Built
1920
Price
$995,000
Price Per SF
$290
Cap Rate
7.51%
NOI
$74,706
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.70
Land Acres
0.11 AC
Zoning
LBPD25
Frontage
68 FT on Atlantic Ave
Walk Score ®
Very Walkable (87)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 7210-016-014 | Total Assessment | $265,592 (2024) |
| Land Assessment | $169,014 (2024) | Annual Taxes | $12,438 ($3.63/SF) |
| Improvements Assessment | $96,578 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7210-016-014
Land Assessment
$169,014 (2024)
Improvements Assessment
$96,578 (2024)
Total Assessment
$265,592 (2024)
Annual Taxes
$12,438 ($3.63/SF)
Tax Year
2023
-
Malcolm Zeger -
Buckingham Investments
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1844-1848 Atlantic Ave
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