New 5-Unit Multifamily
For Sale
$2,485,000
1491 Atlantic Ave, Long Beach, CA 90813
Newly built in 2022, this five-unit property offers studio, 2-bedroom, and townhome-style units with gated parking.
Property Size6,845 SF
Price / SF$363.04
Days on Market87
Property Features for 1491 Atlantic Ave
General Information
Standard status
Active
Size
6,845 SF
Total Parking Spaces
6
Property subtype
Multifamily
Financials
Cap Rate
4.89%
Business Included
Yes
Additional Details
Multifamily Units
5
Amenities
Built in 2022
Spacious Floor Plans
Garage Parking
Building Details
Building Size
6,845 SF
Year Built
2022
Units
5
Tenancy
Multi
Listed By:
Nick Kazemi · License #License(s): CA: 02008945
(949) 419-3333
Source:
Marcusmillichap
Added: Jun 11
Changed: Sep 3
Last Checked: Sep 4 at 2:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nick Kazemi
Investment Insights
Based on property information with market context.
1491 Atlantic Avenue is a newly built five-unit multifamily investment opportunity constructed in 2022. The unit mix includes one studio, one 2-bedroom/2-bath unit, and three townhome-style units with large floor plans. Across 6,845 rentable square feet, the townhome units are configured as 5-bedroom/3.5-bath residences.
The building is maintained with modern, contemporary features that include central air conditioning and private balconies. It also offers energy-efficient solar panels and controlled access with gated parking. The property provides six garage spaces, supporting resident parking needs.
Designed for long-term tenancy, the larger townhome units are positioned adjacent to multiple local schools, aligning with households seeking proximity to educational facilities. Overall, the offering is presented as a low-maintenance, turnkey asset with virtually zero near-term capital expenditure requirements.
The building is maintained with modern, contemporary features that include central air conditioning and private balconies. It also offers energy-efficient solar panels and controlled access with gated parking. The property provides six garage spaces, supporting resident parking needs.
Designed for long-term tenancy, the larger townhome units are positioned adjacent to multiple local schools, aligning with households seeking proximity to educational facilities. Overall, the offering is presented as a low-maintenance, turnkey asset with virtually zero near-term capital expenditure requirements.
Key Highlights
- Newly built 2022 5‑unit multifamily at 1491 Atlantic Avenue in Long Beach, CA
- Unit mix: 1 studio, 1 two‑bedroom/two‑bath, and 3 townhome‑style units with 5 bedrooms and 3.5 bathrooms
- 6,845 rentable square feet of townhome‑style space across the 5 units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$144,987
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,899,740
$2.9M
Cap Rate 7%
$2,071,243
$2.1M
Cap Rate 9%
$1,610,967
$1.6M
Market Conditions
NOI Build-Up for 6,845 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$275.2K $40.20/SF
− Vacancy
−$11.6K −$1.69/SF
EGI
$263.6K $38.51/SF
− OpEx
−$118.6K −$17.33/SF
NOI
$145.0K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,899,740
Cap Rate 7%
$2,071,243
Cap Rate 9%
$1,610,967
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $144,987 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.25M
$1.97M – $2.62M
NOI $157,331 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly built in 2022, this five-unit property offers studio, 2-bedroom, and townhome-style units with gated parking.
Where is this apartment building located?
The property is located at 1491 Atlantic Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $2,485,000.
What are key features of this property?
This property features: Newly built 2022 5‑unit multifamily at 1491 Atlantic Avenue in Long Beach, CA; Unit mix: 1 studio, 1 two‑bedroom/two‑bath, and 3 townhome‑style units with 5 bedrooms and 3.5 bathrooms; 6,845 rentable square feet of townhome‑style space across the 5 units
