SoldMar 7, 2023

Listed by Matthew Wenzel from Marcus & Millichap

Source: San Diego MLS #PW22220148

1491 Atlantic Ave, Long Beach, CA, 90813

$2,550,000

12
11
0.16 ac.

MultiFam

•

30+ days on the market

Sold: Mar 7, 2023

What's around 1491 Atlantic Ave

About this property

The subject property is a newly constructed 5-unit (fourplex + ADU) townhouse style apartment building located at 1491 Atlantic Blvd. in the city of Long Beach. Completed in 2022, this property is composed of two three-story structures with approximately 6,845 SF of rentable space sitting on a parcel of approximately 6,970 SF. The units at this property are significantly larger than other for-rent units typically found in the Long Beach market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Three of the units are large 5-bedroom, 3.75 bath three-story townhome units of approximately 1,759 1,772 SF with attached two-car garages. One of the units is a 2-bedroom, 2.5 bath three-story townhome and the other remaining unit is a Studio ADU of approximately 440 SF. The 5br units and the 2br unit are fully occupied while the Studio ADU unit is still under construction and is scheduled to be completed in early January. For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in the Long Beach market, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large townhome units certainly help fill this need. In terms of amenities, all units have central heating and air conditioning and all units except the Studio ADU have private balconies, a

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