New 5-Unit Multifamily
For Sale
$2,250,000
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$328.71
Days on Market134
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
Listing Agency:
Orange County Office
(949) 419-3200
Listed By:
Nick Kazemi · License #CA: 02008945
(949) 419-3333
Source:
Marcusmillichap
Added: Jun 11
Changed: Oct 21
Last Checked: Oct 20 at 5:11PM
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 Orange County Office
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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 / Yr
$144,987
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
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
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 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 6.44%
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 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,023
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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 $2,250,000.
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
