New 5-Unit Multifamily
1491 Atlantic Ave Long Beach, CA 90813
1491 Atlantic Ave, Long Beach, CA, 90813
$2,850,000
For Sale
$2,850,000
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$416.36
Days on Market41
Property Features for 1491 Atlantic Ave
General Information
- Standard status
- Active
- Size
- 6,845 SF
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap - Orange County
(949) 419-3333
Listed by
Nicholas Kazemi · License #License(s): CA: 02008945
(949) 419-3333
Source
Marcusmillichap
Added: Jun 11 Updated: Jul 20 at 8:28PM Checked: Jul 21 at 3:05AM
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 Marcus & Millichap - Orange County
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $275.2k | $40.20 |
| − Vacancy | −$11.6k | −$1.69 |
| EGI | $263.6k | $38.51 |
| − OpEx | −$118.6k | −$17.33 |
| NOI | $145.0k | $21.18 |
6,845 SF · lease $40.20/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $144,987 @ 7.0% cap · market cap 5.09%
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 5.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
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 $2,850,000.
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
