1491 Atlantic Avenue
Long Beach, CA 90813
- – beds
- – baths
- – sqft
- 6,970 sqft lot
- 2022 build
- – on site
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The subject property is a newly constructed 5-unit (fourplex + ADU) townhouse style apartment building located at 1491 Atlantic Blvd. in the city of Long Beach. Completed in 2022, this property is composed of two three-story structures with approximately 6,845 SF of rentable space sitting on a parcel of approximately 6,970 SF. The units at this property are significantly larger than other for-rent units typically found in the Long Beach market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Three of the units are large 5-bedroom, 3.75 bath three-story townhome units of approximately 1,759 – 1,772 SF with attached two-car garages. One of the units is a 2-bedroom, 2.5 bath three-story townhome and the other remaining unit is a Studio ADU of approximately 440 SF. The 5br units and the 2br unit are fully occupied while the Studio ADU unit is still under construction and is scheduled to be completed in early January. For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in the Long Beach market, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large townhome units certainly help fill this need. In terms of amenities, all units have central heating and air conditioning and all units except the Studio ADU have private balconies, an open kitchen layout with a large kitchen island, washer/dryer hookups and a full laundry room on the third floor. The bedroom and bathroom on the first floor of each 5-bedroom unit is ADA compliant. The seller is currently installing utility sub-metering equipment to allow the owner to bill back utilities (water, sewer and trash) to the tenants. This property fronts Atlantic Blvd. which is a busy north/south arterial through central Long Beach. Directly to the north of the property is Roosevelt Elementary School and Long Beach Polytechnic High School. St. Mary Medical Center is also located only four blocks to the south of the property on Atlantic Blvd. This property offers a rare opportunity for an investor to purchase a newly built 5-unit apartment building that benefits from a unit mix that is unique to the market.
Listed By CRMLS_CA / Matthew Wenzel / Marcus & Millichap
Last checked:
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Last updated May 23, 2024
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MLS# PW22220148 —
The Building
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Year Built:2022
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Year Built Source:Builder
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New Construction:Yes
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Roof:Bitumen, Flat
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Foundation:Slab
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Common Walls:1 Common Wall
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Building Area Total:6845.00
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Building Area Units:Square Feet
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# of Buildings:2
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Total Number Of Units:5
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# of Separate Gas Meters:5
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# of Separate Water Meters:1
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# of Separate Electric Meters:5
Interior
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Features:Balcony
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Levels:Three Or More
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Laundry:Gas Dryer Hookup, Washer Hookup
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Laundry:1
Financial & Terms
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Disclosures:Accessory Dwelling Unit
Location
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Directions:West side of Atlantic, one parcel south of 15th Street
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Latitude:33.78549400
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Longitude:-118.18525400
The Property
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Property Type:Residential Income
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Zoning:LBCO
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Lot Features:31-35 Units/Acre
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Lot Size Area:6970.0000
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Lot Size Acres:0.1600
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Lot Size SqFt:6970.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:5753.00
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Tax Lot:51
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7269031017
Heating & Cooling
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Heating:1
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Heating:Central
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Cooling:Yes
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Cooling:Central Air
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:Poly High (PH)
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Subdivision:Poly High (PH)
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Senior Community:No
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Features:Curbs, Sidewalks, Storm Drains, Street Lights
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Pool:None
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Private Pool:No
Parking
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Parking Spaces:6.00
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Garage Spaces:6.00
Extra Units
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Average 2 Bed Area:1115
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Average 3 Bed Area:1759
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Average Studio Area:440
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/7/23
Mar 7, 2023
|
Sold | CRMLS_CA | $2,550,000 | -2.9% |
1/17/23
Jan 17, 2023
|
Pending | CRMLS_CA | $2,625,000 | |
12/9/22
Dec 9, 2022
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Price Changed | CRMLS_CA | $2,625,000 | -2.8% |