2244-2246 Atlantic Ave, Long Beach, CA 90806

2244-2246 Atlantic Ave, Long Beach, CA 90806

Long Beach, CA
$515,000

Property Description

Lyon Stahl is excited to present 2244-2246 Atlantic Ave, two craftsman style homes in a desirable pocket of Northeast Long Beach, just a short commute to Long Beach Waterfront, The Queen Mary, and Shoreline Village. The two homes were built in 1913 and consist of 1,120 SF situated on a 4,881 SF lot. 2244-2246 Atlantic Ave offers a great unit mix consisting of (1) 3-Bed/1-Bath (736 SF) house and a (1) 1-Bed/1-Bath (384 SF) house. The property has been well maintained and features a detached garage, laundry facilities, and a large courtyard garden granting a tranquil private back yard. The front house will be delivered vacant and has been recently renovated to move-in condition. Located in one of the strongest rental markets in California – this is an excellent opportunity for a potential investor to obtain 30-year fixed residential financing while rates are at a historic low.

• Two Detached Craftsman Style Homes on a Large 4,881 SF Lot

• Front House Consist of a 3-Bed/1-Bath House Delivered Vacant & Renovated & a 1-Bed/1-Bath Back House

• Detached Garage, Laundry Facilities, and Large Courtyard Garden Granting a Tranquil Private Back Yard Atmosphere for all Tenants

Property Features

  • Sale Price: $515,000
  • Area Size: 1120 SF
  • Land Area: 4881 SF
  • Year Built: 1913
  • Listing Date: 1/21/2020
  • Closing Date: 3/27/2020
  • Units: 2
  • Current GRM: 14.88
  • Current Cap Rate: 3.98%
  • Price Per Unit: $247,500
  • Market GRM: 13.52
  • Market Cap Rate: 4.62%