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1491 Atlantic Ave 5 Unit Apartment Building $2,580,000 ($516,000/Unit) 5.03% Cap Rate Long Beach, CA 90813
Investment Highlights
- Newer 2022 construction with modern finishes and minimal near-term capital needs.
- Unique unit mix with one studio, one 2-bed/2-bath unit, and three 5-bed/3.5-bath townhomes.
- Central A/C, solar panels, private balconies, and in-unit laundry hookups.
- 5-unit Long Beach multifamily asset totaling 6,845 rentable square feet.
- Expansive townhome-style units appeal to families and larger households.
- Adjacent to Roosevelt Elementary School and near Long Beach Polytechnic High School.
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1491 Atlantic Avenue, a newly built 5-unit multifamily investment opportunity located in Long Beach, CA. Built in 2022, the property offers a unique and diverse unit mix consisting of one studio, one 2-bed/2-bath unit, and three expansive 5-bed/3.5-bath townhome-style units across 6,845 rentable square feet. This versatile layout, combined with exceptionally large floor plans for the townhome units, allows the asset to appeal to a wide range of tenant profiles, from single professionals to families seeking additional space.
As a modern, newly constructed building, the asset has been exceptionally well maintained and offers a stable operational profile with virtually zero near-term capital expenditure requirements. The property is equipped with premium contemporary amenities, including central air conditioning, energy-efficient solar panels, private balconies, and the security of controlled access and gated parking, with six garage spaces.
Supporting long-term tenancy, the property is located adjacent to multiple local schools, making the larger townhome units highly attractive to families prioritizing educational proximity. Overall, 1491 Atlantic Avenue represents a rare opportunity to acquire a low-maintenance, turnkey asset in Long Beach, leveraging modern construction efficiencies, top-tier amenities, and an ideal neighborhood footprint to support consistent occupancy and strong operational performance.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
As a modern, newly constructed building, the asset has been exceptionally well maintained and offers a stable operational profile with virtually zero near-term capital expenditure requirements. The property is equipped with premium contemporary amenities, including central air conditioning, energy-efficient solar panels, private balconies, and the security of controlled access and gated parking, with six garage spaces.
Supporting long-term tenancy, the property is located adjacent to multiple local schools, making the larger townhome units highly attractive to families prioritizing educational proximity. Overall, 1491 Atlantic Avenue represents a rare opportunity to acquire a low-maintenance, turnkey asset in Long Beach, leveraging modern construction efficiencies, top-tier amenities, and an ideal neighborhood footprint to support consistent occupancy and strong operational performance.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$200,100
|
$29.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,005
|
$1.46
|
| Effective Gross Income |
$190,095
|
$27.77
|
| Taxes |
$32,743
|
$4.78
|
| Operating Expenses |
$27,706
|
$4.05
|
| Total Expenses |
$60,449
|
$8.83
|
| Net Operating Income |
$129,646
|
$18.94
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $200,100 |
| Annual Per SF | $29.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,005 |
| Annual Per SF | $1.46 |
| Effective Gross Income | |
|---|---|
| Annual | $190,095 |
| Annual Per SF | $27.77 |
| Taxes | |
|---|---|
| Annual | $32,743 |
| Annual Per SF | $4.78 |
| Operating Expenses | |
|---|---|
| Annual | $27,706 |
| Annual Per SF | $4.05 |
| Total Expenses | |
|---|---|
| Annual | $60,449 |
| Annual Per SF | $8.83 |
| Net Operating Income | |
|---|---|
| Annual | $129,646 |
| Annual Per SF | $18.94 |
Property Facts
| Price | $2,580,000 | Apartment Style | Garden |
| Price Per Unit | $516,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.03% | Building Size | 6,845 SF |
| Gross Rent Multiplier | 12.89 | No. Stories | 3 |
| No. Units | 5 | Year Built | 2022 |
| Property Type | Multifamily | Parking Ratio | 0.88/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LBCO | ||
| Price | $2,580,000 |
| Price Per Unit | $516,000 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 12.89 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 6,845 SF |
| No. Stories | 3 |
| Year Built | 2022 |
| Parking Ratio | 0.88/1,000 SF |
| Zoning | LBCO |
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Stainless Steel Appliances
- Patio
Site Amenities
- Fenced Lot
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 440 |
| 2+2 | 1 | - | 1,115 |
| 5+4 | 3 | - | 1,759 - 1,772 |
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Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7269-031-017 | Total Assessment | $2,653,020 (2025) |
| Land Assessment | $1,061,208 (2025) | Annual Taxes | $32,743 ($4.78/SF) |
| Improvements Assessment | $1,591,812 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
7269-031-017
Land Assessment
$1,061,208 (2025)
Improvements Assessment
$1,591,812 (2025)
Total Assessment
$2,653,020 (2025)
Annual Taxes
$32,743 ($4.78/SF)
Tax Year
2026 Payable 2026
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