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5/24/23
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A four-unit apartment building in Long Beach sold for $1.1 mil or $275k per unit. The apartment building, located on a 3k sf corner lot at 801 Atlantic Ave, was built in 1914 and comprises four units, including two three-bedroom/one-bath units and two two-bedroom/one-bathroom units.
Tim Steuernol with NAI Capital Commercial represented the seller, a private owner, in the transaction.
"Long Beach's high demand as a rental area, combined with the property offering two vacant units and one unit undergoing eviction, presents the new owner with significant potential for growth through renovation and rental increases," commented Steuernol. "Navigating through the pending eviction was a challenge, and the seller is very pleased with the outcome."
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