NOT LISTED FOR SALE

2248 Atlantic Ave Long Beach, CA 90806

Sunrise Neighborhood
10 Beds
8 Baths
5,046 Sq Ft
5,003 Sq Ft Lot

Last Sold June 24, 2014

Last sale price $849,500 $168 Per Sq Ft

45 Days on Market

Highlights

  • Laundry Room
  • Wrought Iron Fence
  • Wall Furnace
  • Long Beach Polytechnic High School Rated A
  • Carpet
  • 5-minute walk to NAACP Freedom Park

About This Home

As of June 2014

Solid investment property in an active, non-rent controlled rental market. This is a two story sixties apartment with eight separately metered units consisting of six 1bed/1bath apartments and two 2bed/1bath apartments. There is a coin operated laundry system and six private garages that generate additional income. Lots of value-add and upside potential.

The building is located in the heart of one of the strongest rental markets of Southern California. Minutes away from the 405 and 710 freeways and close to major public transportation lines, tenants have access to Orange County and Los Angeles. The employment market is robust due to proximity to Memorial Hospital, LBCC, CSULB, the LBG Airport, and the Deukmejian Court House.

Last Agent to Sell the Property

Lindsey Knobloch

Keller Williams Pacific Estate License #01866263 Listed on: 02/28/2014

Last Buyer's Agent

Daron Case

Re/Max Commercial & Investment License #01702754

Re/Max Commercial & Investment

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 5,003 Sq Ft Lot
  • Lot Dimensions are 40 x 121.5
  • Property fronts an alley
  • Two or More Common Walls
  • Wrought Iron Fence

Parking

  • 6 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 5,046 Sq Ft Home
  • Property Attached

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 8 Bathrooms

Additional Features

  • Laundry Room
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 9 / E
  • Tax Tract Number 12
  • Assessor Parcel Number 7211012008

Community Details

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Electric Expense $625
  • Gardener Expense $420
  • Insurance Expense $2,325
  • Maintenance Expense $5,000
  • Pest Control $769
  • Professional Management Expense $2,938
  • New Taxes Expense $10,000
  • Gross Income $82,240
  • Net Operating Income $53,456

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

6

Listing Details

  • CapRate: 6.00
  • Professional Management Expense: 2938.00
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Subdivision Name Other: Poly High (PH)
  • Property Type: Residential Income
  • Gardener Expense: 420.00
  • Parcel Number: 7211012008
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Flooring: Laminate, Carpet
  • Levels: Two
  • Price Per Square Foot: 168.35

Exterior Features

  • Fencing: Wrought Iron
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 769.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Lot Size: 40 x 121.5
  • Lot Size Sq Ft: 5003.00
  • Lot Size Acres: 0.1150

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 588
  • Average2 Bed Area: 759
  • Electric Expense: 625.00
  • Gross Income: 82240.00
  • Gross Multiplier: 9.11
  • Gross Scheduled Income: 82240.00
  • Insurance Expense: 2325.00
  • Lot Size Area: 5003.0000 Square Feet
  • Maintenance Expense: 5000.00
  • Net Operating Income: 53456.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 28784.00
  • Operating Expense Percent: 35.00
  • Rent Control: No
  • Total Actual Rent: 6825.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 10000.00
  • Tax Area: 11933
  • Tax Block: E
  • Tax Lot: 9
  • Tax Tract Number: 012
  • Tax Year: 2012

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/24/2014 06/24/14 Sold $849,500 0.0% $168 / Sq Ft
04/14/2014 04/14/14 Pending -- -- --
02/28/2014 02/28/14 For Sale $849,500 -- $168 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2014

    Lindsey Knobloch

    Keller Williams Pacific Estate

  • Daron Case

    Buyer's Agent in 2014

    Daron Case

    RE/MAX

    (310) 802-2500

    2 Total Sales

    Daron Case
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14041492

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 Sunrise

2248 Atlantic Ave, Long Beach, CA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes